CM4221 FINAL ASSESSMENT
QUESTIONS AND COMPLETE
SOLUTIONS GRADED A+
Your Exam Plug
, An expressed warranty is a written document that details the terms and the length of time of a
performance warranty - Answer: True
There is a 40% chance that you will experience 'unforeseen site conditions' on your project. When there
are unforeseen site conditions, the average increase in foundation cost is $20,000. If you plan to allocate
risk of unforeseen site condition to the foundation subcontractor, how much would you expect them to
inflate their bid? - Answer: $8000
Which of the following is a category or element of the balance sheet? - Answer: Liabilities
A temporary certificate of occupancy states an expiration date - Answer: True
Waivers of lien are collected from the general contractor and the subcontractors and are provided to
the owner after accepting the work for final acceptance - Answer: False
Earned value incorporates scope, and schedule into various methods of evaluating project performance.
- Answer: False
Quality assurance is the actions and considerations necessary to assess and adjust production and
construction process so as to control the level of quality being produced in the end product - Answer:
False
Bulk materials are materials that are delivered in small quantities and deposited into a container at the
construction site - Answer: False
Which one of the following is a tool for managing risks? - Answer: All of the above
A highway asphalt contractor is considering purchasing a new fleet of three Caterpillar AP355F Pavers,
which cost $145,000 each brand new in 2016. The contractor expects to use the new fleet for at least 10
years. The expected salvage value of each paver at the end of 10 years is $35,000. What is the yearly
depreciation expense for all three AP355F Pavers? - Answer: $33000
Which of the following is an example of a short-term liability? - Answer: Taxes
QUESTIONS AND COMPLETE
SOLUTIONS GRADED A+
Your Exam Plug
, An expressed warranty is a written document that details the terms and the length of time of a
performance warranty - Answer: True
There is a 40% chance that you will experience 'unforeseen site conditions' on your project. When there
are unforeseen site conditions, the average increase in foundation cost is $20,000. If you plan to allocate
risk of unforeseen site condition to the foundation subcontractor, how much would you expect them to
inflate their bid? - Answer: $8000
Which of the following is a category or element of the balance sheet? - Answer: Liabilities
A temporary certificate of occupancy states an expiration date - Answer: True
Waivers of lien are collected from the general contractor and the subcontractors and are provided to
the owner after accepting the work for final acceptance - Answer: False
Earned value incorporates scope, and schedule into various methods of evaluating project performance.
- Answer: False
Quality assurance is the actions and considerations necessary to assess and adjust production and
construction process so as to control the level of quality being produced in the end product - Answer:
False
Bulk materials are materials that are delivered in small quantities and deposited into a container at the
construction site - Answer: False
Which one of the following is a tool for managing risks? - Answer: All of the above
A highway asphalt contractor is considering purchasing a new fleet of three Caterpillar AP355F Pavers,
which cost $145,000 each brand new in 2016. The contractor expects to use the new fleet for at least 10
years. The expected salvage value of each paver at the end of 10 years is $35,000. What is the yearly
depreciation expense for all three AP355F Pavers? - Answer: $33000
Which of the following is an example of a short-term liability? - Answer: Taxes
