CM 4211 Final questions with verified answers
A partnership may be: Ans✓✓-- Family members in business with each other
"LLC" stands for: Ans✓✓-- Limited liability company
A joint venture is: Ans✓✓-- A business entity created for a single business
venture
Which one of the following is NOT a characteristic of a corporation?
- Personal liability to owners
- Centralized Management
- Ease of transferability of ownership
- Perceptual duration
- Access to capital by sale of stock Ans✓✓-- Personal liability to owners
A construction manager may be licensed: Ans✓✓-- As an architect, engineer, or
contractor depending on the state
Which one of the following is not a reason for licensing _______? Ans✓✓-- To
insure payment by owners to contractor
Which one of the following is not one of the general responsibilities of the
owner's representative granted under the AIA A201 General Conditions?
Ans✓✓-- Changing the work
,A construction contract contains a provision that the contractor must guarantee
that a sewer system to be installed will not be subject by groundwater infiltration
of over 300 gallons per day per inch diameter of pipe per mile. Upon completion
of the installation, tests reveal infiltration of 8000 gallons per day in 12,000 feet
per 8-inch pipe. Which one of the following statements is false?
- If third persons are harmed, there would be tort liability
- There is contract liability
- Tort liability would be strict
- If statues limit the infiltration in 400 gallons per day per inch diameter of pipe
per mile, there would be statutory liability
- All of the above statements are true Ans✓✓-- All of the above statements are
true
Which one of the following is not a source of liability in the construction process?
- Absolute
- Contract
- Tort
- Statutory
- All of the above are sources of liability Ans✓✓-- Absolute
Liability usually can be caused by an intentional act or via negligence. Which of
the following can only be caused via negligence?
- Contract Liability
- Tort Liability
- Statutory Liability
- None of the above can be caused by either an intentional act or via negligence
, - All of the above can be caused by either an intentional act or via negligence
Ans✓✓-- All of the above can be caused by either an intentional act or via
negligence
Which one of the following is not one of the Louisiana Civil Code requirements for
a contract to be valid?
- Parties legally capable of contracting
- Privity
- Consent legally given
- A certain object
- A lawful purpose Ans✓✓-- Privity
Which one of the following statements is false?
- An offer is an unconditional willingness to enter into a contract
- An acceptance is a conditional agreement to an offer
- Consideration is the value given by the parties to a contract
- A counter offer is a conditional agreement to an offer
- A counter offer requires an acceptance by the original offeror Ans✓✓-- An
acceptance is a conditional agreement to an offer
Which one of the following contracts is the riskiest for a contractor? Ans✓✓--
Lump sum fee
A contract was entered into for which an estimate of the project cost (exclusive of
the contractor's fee) in the amount of $18,000,000 was agreed to by the parties.
The contractor's fee was agreed to be 5% of the estimated cost. The contract
further provided that the owner and contractor would share 50/50 in any cost
A partnership may be: Ans✓✓-- Family members in business with each other
"LLC" stands for: Ans✓✓-- Limited liability company
A joint venture is: Ans✓✓-- A business entity created for a single business
venture
Which one of the following is NOT a characteristic of a corporation?
- Personal liability to owners
- Centralized Management
- Ease of transferability of ownership
- Perceptual duration
- Access to capital by sale of stock Ans✓✓-- Personal liability to owners
A construction manager may be licensed: Ans✓✓-- As an architect, engineer, or
contractor depending on the state
Which one of the following is not a reason for licensing _______? Ans✓✓-- To
insure payment by owners to contractor
Which one of the following is not one of the general responsibilities of the
owner's representative granted under the AIA A201 General Conditions?
Ans✓✓-- Changing the work
,A construction contract contains a provision that the contractor must guarantee
that a sewer system to be installed will not be subject by groundwater infiltration
of over 300 gallons per day per inch diameter of pipe per mile. Upon completion
of the installation, tests reveal infiltration of 8000 gallons per day in 12,000 feet
per 8-inch pipe. Which one of the following statements is false?
- If third persons are harmed, there would be tort liability
- There is contract liability
- Tort liability would be strict
- If statues limit the infiltration in 400 gallons per day per inch diameter of pipe
per mile, there would be statutory liability
- All of the above statements are true Ans✓✓-- All of the above statements are
true
Which one of the following is not a source of liability in the construction process?
- Absolute
- Contract
- Tort
- Statutory
- All of the above are sources of liability Ans✓✓-- Absolute
Liability usually can be caused by an intentional act or via negligence. Which of
the following can only be caused via negligence?
- Contract Liability
- Tort Liability
- Statutory Liability
- None of the above can be caused by either an intentional act or via negligence
, - All of the above can be caused by either an intentional act or via negligence
Ans✓✓-- All of the above can be caused by either an intentional act or via
negligence
Which one of the following is not one of the Louisiana Civil Code requirements for
a contract to be valid?
- Parties legally capable of contracting
- Privity
- Consent legally given
- A certain object
- A lawful purpose Ans✓✓-- Privity
Which one of the following statements is false?
- An offer is an unconditional willingness to enter into a contract
- An acceptance is a conditional agreement to an offer
- Consideration is the value given by the parties to a contract
- A counter offer is a conditional agreement to an offer
- A counter offer requires an acceptance by the original offeror Ans✓✓-- An
acceptance is a conditional agreement to an offer
Which one of the following contracts is the riskiest for a contractor? Ans✓✓--
Lump sum fee
A contract was entered into for which an estimate of the project cost (exclusive of
the contractor's fee) in the amount of $18,000,000 was agreed to by the parties.
The contractor's fee was agreed to be 5% of the estimated cost. The contract
further provided that the owner and contractor would share 50/50 in any cost
