Construction Management exam prep Questions
and 100% Correct Answers
Apparent Low Bidder - ✔✔The bidder who has submitted the lowest competitive
proposal as determined by a cursory examination of the bids submitted.
Approved Bidders List - ✔✔The list of contractors that have survived prequalification
tests.
Approved Changes - ✔✔Changes of any nature in contract requirements which have
been agreed upon through a change approval process and approved by the owner.
As-Built Drawings - ✔✔Also: As Builts; Check: Record Drawings Drawings produced
during or after construction and amended to show the exact location, geometry, and
dimensions of the constructed project. As-Built Drawings are not the same as Record
Drawings.
Bid - ✔✔A binding offer, usually expressed in dollars to provide specific services
within clearly stated requirements.
Bid Bond - ✔✔A pledge from a third party (usually a surety company) to pay
liquidated damages to the owner to the extent of the difference between the bonded
contractor bid and the next highest bidder but not to exceed the face value of the bond;
if the bonded contractor declines an award offered by the owner.
Bid Depository - ✔✔A physical location where trade contractor proposals are fled the
day before general contractor bids are to be received by an owner for pickup, opening,
acceptance, or rejection by general contractors bidding the owner's project.
, Budget Estimate - ✔✔An estimate of cost based on rough or incomplete information,
with a stated degree of accuracy. The more information available, the more accurate
the estimate. Loosely called a "ballpark" estimate.
Change Order - ✔✔Also: Contract Modification The document that alters the
contract amount, contract time, or contract requirements of the original contract
entered into by the owner and a contractor.
Changed Conditions - ✔✔Also: Concealed Conditions; Latent Conditions Conditions
or circumstances, physical or otherwise, which surface after a contract has been signed
and which alter the circumstances or conditions on which the contract is based.
Chart of Accounts - ✔✔Also: Account Codes; Codes of Accounts An alpha/numeric
identification system for budget line items that ensures that project expenditures are
properly debited/credited in the project budget as payments are made in behalf of the
project.
Checks and Balances - ✔✔The term used to describe the use of the overlapping
expertise of each team member during team decision making.
Claim - ✔✔A formal notice sent by a contractor to an owner asserting the fact that
the terms of the contract have been breached and compensation is being sought by the
contractor from the owner.
Clerk-of-the-Work - ✔✔An individual employed by an owner to represent him on a
project at the site of the work. The clerk-of- the-work's abilities, credentials, and
responsibilities vary at the discretion of the owner.
and 100% Correct Answers
Apparent Low Bidder - ✔✔The bidder who has submitted the lowest competitive
proposal as determined by a cursory examination of the bids submitted.
Approved Bidders List - ✔✔The list of contractors that have survived prequalification
tests.
Approved Changes - ✔✔Changes of any nature in contract requirements which have
been agreed upon through a change approval process and approved by the owner.
As-Built Drawings - ✔✔Also: As Builts; Check: Record Drawings Drawings produced
during or after construction and amended to show the exact location, geometry, and
dimensions of the constructed project. As-Built Drawings are not the same as Record
Drawings.
Bid - ✔✔A binding offer, usually expressed in dollars to provide specific services
within clearly stated requirements.
Bid Bond - ✔✔A pledge from a third party (usually a surety company) to pay
liquidated damages to the owner to the extent of the difference between the bonded
contractor bid and the next highest bidder but not to exceed the face value of the bond;
if the bonded contractor declines an award offered by the owner.
Bid Depository - ✔✔A physical location where trade contractor proposals are fled the
day before general contractor bids are to be received by an owner for pickup, opening,
acceptance, or rejection by general contractors bidding the owner's project.
, Budget Estimate - ✔✔An estimate of cost based on rough or incomplete information,
with a stated degree of accuracy. The more information available, the more accurate
the estimate. Loosely called a "ballpark" estimate.
Change Order - ✔✔Also: Contract Modification The document that alters the
contract amount, contract time, or contract requirements of the original contract
entered into by the owner and a contractor.
Changed Conditions - ✔✔Also: Concealed Conditions; Latent Conditions Conditions
or circumstances, physical or otherwise, which surface after a contract has been signed
and which alter the circumstances or conditions on which the contract is based.
Chart of Accounts - ✔✔Also: Account Codes; Codes of Accounts An alpha/numeric
identification system for budget line items that ensures that project expenditures are
properly debited/credited in the project budget as payments are made in behalf of the
project.
Checks and Balances - ✔✔The term used to describe the use of the overlapping
expertise of each team member during team decision making.
Claim - ✔✔A formal notice sent by a contractor to an owner asserting the fact that
the terms of the contract have been breached and compensation is being sought by the
contractor from the owner.
Clerk-of-the-Work - ✔✔An individual employed by an owner to represent him on a
project at the site of the work. The clerk-of- the-work's abilities, credentials, and
responsibilities vary at the discretion of the owner.
