CCIFP Introduction Questions And Answers

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CCIFP Introduction Questions And Answers

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CCIFP Introduction Questions And Answers CCIFP Introduction Questions And Answers CCIFP Introduction Questions And Answers

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CCIFP Introduction Questions And
Answers
Accountingxforxcontractxcostsx-xCORRECTxxANSWER-
Costsxarexaccountedxforxbyxprojectxandxwithinxthexproject
ArchitectxandxEngineerx-xCORRECTxxANSWER-Typicalxservicesxinclude:
Constructionxdocumentsx-xdrawings/specs
Biddingxandxnegotiatingx-xcouldxhelpxownerxinxobtainingxbidsxorxnegotiatingxcontracts
Constructionxphasex-
xensuresxthexworkxadvancesxaccordingxtoxthexplansxandxspecs.xMayxhelpxinxapprovingxofxc

hangexorders

CMxresponsibilitiesxmayxincludex-xCORRECTxxANSWER-
ThexCMxcontractsxwithxthexGCxorxsubcontractorsxratherxthanxthexowner
ThexCMxguaranteesxaxlumpxsumxorxmaximumxpricexforxthexproject
ThexCMxisxnotxinvolvedxinxthexdesignxphase

Constructionxmanagerx-xCORRECTxxANSWER-
ThexCMxfunctionsxasxaxbusinessxconsultantxorxpartnerxtoxthexowner.xActingxonxbehalfxofxthe
xownerxasxanxagentxprovidingxconsultingxresourcesxthroughoutxthexentirexconstructionxproj

ect.

ContractxTypesx-xCost-Plus-Feex-xCORRECTxxANSWER--
xOwnerxreimbursexthexcontractorxforxthexcostsxincurredxandxpayxthexcontractorxanxestablish

edxfee
-
xCanxbexaxfixedxfeexorxcanxbexaxvariablexamountxbasedxonxthextotalxcostxofxthexproject,xother

xfactorsxorxboth.

-xOwnerxbearsxsubstantialxriskx
-xContractorxbearsxveryxlittlexrisk
-
xCommonxinxrenovationxworkxifxthexstructurexisxoldxandx"asxbuilt"xdrawingsxdoxnotxexist.xThe

xpricexwouldxincludexsubstantialxcontingencyxamounts

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Uploaded on: April 6, 2025
Number of pages: 4
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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