Studio 2 - Estimating Exam | 114
Questions | With Complete
Solutions!!
This provides the general contractor an acceptable rate of return and compensation for
the risk associated with the project. Choose the ONE best Answer. - AnswerProfit
Margin
A detailed estimate determines the quantity and cost of everything required for the
project including: Select All that Apply. - AnswerBonds, Insurance, Overhead, Labor,
Materials
Square foot estimates may be adjusted for: Choose the ONE best Answer. -
AnswerBuilding Height
Quantity takeoff skills include: Choose the ONE best Answer. - AnswerReading and
quantifying plans
Types of bids include: Choose the ONE best Answer. - AnswerCompetitive and
Negotiated bids
Contract documents include: Choose the ONE best Answer. - AnswerTechnical
specifications and drawings
The best source of estimating information is: Choose the ONE best Answer. -
AnswerHistorical Data
Types of Agreements include: Select All that Apply. - AnswerLump Sum, Unit-Price,
Cost-Plus-Fee
Agreement Provisions include: Choose the ONE best Answer. - AnswerAll the
Answers shown
The type of bond which guarantees payment on another party's obligations is a
_________ bond. Choose the ONE best Answer. - AnswerSurety
The type of bond which guarantees that the contractor will perform all the work in
accordance with the contract documents is a _______ bond. Choose the ONE best
Answer. - AnswerPerformance
, ________________ insurance provides benefits for workers injured or killed on the job.
Choose the ONE best Answer. - AnswerWorker's Compensation
Real property includes: Choose the ONE best Answer. - AnswerAll the Answers
shown
Instruction to bidders include which procedures: Choose the ONE best Answer. -
AnswerAll the Answers shown
Which of the following statement is correct? Choose the ONE best Answer. -
AnswerThe advantage of the percentage fee is that it allows the owner to save fees
paid to the contractor when construction costs go down.
Document ________ should be brought to the attention of the architect or engineer.
Choose the ONE best Answer. - AnswerErrors
The required level of accuracy coupled with the amount of information about the project
that is available will dictate the type of estimate that can be prepared. Which of the
following is a correct order for estimating methods from lower to higher accuracy and
time to complete? Choose the ONE best Answer. - AnswerProject Comparison -
Square Foot - Parametric - Model - Assembly - Detailed
To be able to do quantity takeoffs, the estimator must _____________. Choose the
ONE best Answer. - AnswerAll the Answers shown
___________________ is a drawing or information that modifies the basic contract
documents after they have been issued to the bidder, but prior to the taking of bids.
They may provide clarification, correction, or changes in the other documents. Choose
the ONE best Answer. - AnswerAddenda
In a _______________ agreement, the contractor agrees to construct the project in
accordance with the contract documents, for a set price arrived at through competitive
bidding or negotiation. The contractor agrees that the work will be satisfactorily
completed regardless of the difficulties encountered. Choose the ONE best Answer. -
AnswerLump-Sum
Which of the following is not an example of information that should be collected during
the site visit after making a preliminary examination of the drawings and the project
manual : Choose the ONE best Answer. - AnswerLocal ordinances and regulations
and note any special requirements
Questions | With Complete
Solutions!!
This provides the general contractor an acceptable rate of return and compensation for
the risk associated with the project. Choose the ONE best Answer. - AnswerProfit
Margin
A detailed estimate determines the quantity and cost of everything required for the
project including: Select All that Apply. - AnswerBonds, Insurance, Overhead, Labor,
Materials
Square foot estimates may be adjusted for: Choose the ONE best Answer. -
AnswerBuilding Height
Quantity takeoff skills include: Choose the ONE best Answer. - AnswerReading and
quantifying plans
Types of bids include: Choose the ONE best Answer. - AnswerCompetitive and
Negotiated bids
Contract documents include: Choose the ONE best Answer. - AnswerTechnical
specifications and drawings
The best source of estimating information is: Choose the ONE best Answer. -
AnswerHistorical Data
Types of Agreements include: Select All that Apply. - AnswerLump Sum, Unit-Price,
Cost-Plus-Fee
Agreement Provisions include: Choose the ONE best Answer. - AnswerAll the
Answers shown
The type of bond which guarantees payment on another party's obligations is a
_________ bond. Choose the ONE best Answer. - AnswerSurety
The type of bond which guarantees that the contractor will perform all the work in
accordance with the contract documents is a _______ bond. Choose the ONE best
Answer. - AnswerPerformance
, ________________ insurance provides benefits for workers injured or killed on the job.
Choose the ONE best Answer. - AnswerWorker's Compensation
Real property includes: Choose the ONE best Answer. - AnswerAll the Answers
shown
Instruction to bidders include which procedures: Choose the ONE best Answer. -
AnswerAll the Answers shown
Which of the following statement is correct? Choose the ONE best Answer. -
AnswerThe advantage of the percentage fee is that it allows the owner to save fees
paid to the contractor when construction costs go down.
Document ________ should be brought to the attention of the architect or engineer.
Choose the ONE best Answer. - AnswerErrors
The required level of accuracy coupled with the amount of information about the project
that is available will dictate the type of estimate that can be prepared. Which of the
following is a correct order for estimating methods from lower to higher accuracy and
time to complete? Choose the ONE best Answer. - AnswerProject Comparison -
Square Foot - Parametric - Model - Assembly - Detailed
To be able to do quantity takeoffs, the estimator must _____________. Choose the
ONE best Answer. - AnswerAll the Answers shown
___________________ is a drawing or information that modifies the basic contract
documents after they have been issued to the bidder, but prior to the taking of bids.
They may provide clarification, correction, or changes in the other documents. Choose
the ONE best Answer. - AnswerAddenda
In a _______________ agreement, the contractor agrees to construct the project in
accordance with the contract documents, for a set price arrived at through competitive
bidding or negotiation. The contractor agrees that the work will be satisfactorily
completed regardless of the difficulties encountered. Choose the ONE best Answer. -
AnswerLump-Sum
Which of the following is not an example of information that should be collected during
the site visit after making a preliminary examination of the drawings and the project
manual : Choose the ONE best Answer. - AnswerLocal ordinances and regulations
and note any special requirements
