STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS | WITH COMPLETE SO
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
1. This provides the general contractor an acceptable Profit Margin
rate of return and compensation for the risk associat-
ed with the project. Choose the ONE best answer.
2. A detailed estimate determines the quantity and cost Bonds, Insurance, Over-
of everything required for the project including: Select head, Labor, Materials
All that Apply.
3. Square foot estimates may be adjusted for: Choose Building Height
the ONE best answer.
4. Quantity takeoff skills include: Choose the ONE best Reading and quantifying
answer. plans
5. Types of bids include: Choose the ONE best answer. Competitive and Negoti-
ated bids
6. Contract documents include: Choose the ONE best Technical specifications
answer. and drawings
7. The best source of estimating information is: Choose Historical Data
the ONE best answer.
8. Types of Agreements include: Select All that Apply. Lump Sum, Unit-Price,
Cost-Plus-Fee
9. Agreement Provisions include: Choose the ONE best All the answers shown
answer.
10. The type of bond which guarantees payment on an- Surety
other party's obligations is a _________ bond. Choose
the ONE best answer.
, STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS | WITH COMPLETE SO
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
11. The type of bond which guarantees that the contrac- Performance
tor will perform all the work in accordance with the
contract documents is a _______ bond. Choose the ONE
best answer.
12. ________________ insurance provides benefits for work- Worker's Compensation
ers injured or killed on the job. Choose the ONE best
answer.
13. Real property includes: Choose the ONE best answer. All the answers shown
14. Instruction to bidders include which procedures: All the answers shown
Choose the ONE best answer.
15. Which of the following statement is correct? Choose The advantage of the per-
the ONE best answer. centage fee is that it al-
lows the owner to save
fees paid to the contractor
when construction costs
go down.
16. Document ________ should be brought to the attention Errors
of the architect or engineer. Choose the ONE best
answer.
17. The required level of accuracy coupled with the Project Comparison -
amount of information about the project that is avail- Square Foot - Parametric
able will dictate the type of estimate that can be pre- - Model - Assembly - De-
pared. Which of the following is a correct order for tailed
estimating methods from lower to higher accuracy
and time to complete? Choose the ONE best answer.
18. All the answers shown
, STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS | WITH COMPLETE SO
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
To be able to do quantity takeoffs, the estimator must
_____________. Choose the ONE best answer.
19. ___________________ is a drawing or information that Addenda
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.
20. In a _______________ agreement, the contractor agrees Lump-Sum
to construct the project in accordance with the con-
tract 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.
21. Which of the following is not an example of informa- Local ordinances and reg-
tion that should be collected during the site visit after ulations and note any spe-
making a preliminary examination of the drawings cial requirements
and the project manual : Choose the ONE best answer.
22. A _________ contractor is a separate contractor hired by Specialty
the prime contractor to perform certain portions of
the work. Choose the ONE best answer.
23. The following items should be included in common A, B, C, and D
errors doing estimating: Choose the ONE best answer.
24. Computerized estimating
packages do not allow the
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
1. This provides the general contractor an acceptable Profit Margin
rate of return and compensation for the risk associat-
ed with the project. Choose the ONE best answer.
2. A detailed estimate determines the quantity and cost Bonds, Insurance, Over-
of everything required for the project including: Select head, Labor, Materials
All that Apply.
3. Square foot estimates may be adjusted for: Choose Building Height
the ONE best answer.
4. Quantity takeoff skills include: Choose the ONE best Reading and quantifying
answer. plans
5. Types of bids include: Choose the ONE best answer. Competitive and Negoti-
ated bids
6. Contract documents include: Choose the ONE best Technical specifications
answer. and drawings
7. The best source of estimating information is: Choose Historical Data
the ONE best answer.
8. Types of Agreements include: Select All that Apply. Lump Sum, Unit-Price,
Cost-Plus-Fee
9. Agreement Provisions include: Choose the ONE best All the answers shown
answer.
10. The type of bond which guarantees payment on an- Surety
other party's obligations is a _________ bond. Choose
the ONE best answer.
, STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS | WITH COMPLETE SO
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
11. The type of bond which guarantees that the contrac- Performance
tor will perform all the work in accordance with the
contract documents is a _______ bond. Choose the ONE
best answer.
12. ________________ insurance provides benefits for work- Worker's Compensation
ers injured or killed on the job. Choose the ONE best
answer.
13. Real property includes: Choose the ONE best answer. All the answers shown
14. Instruction to bidders include which procedures: All the answers shown
Choose the ONE best answer.
15. Which of the following statement is correct? Choose The advantage of the per-
the ONE best answer. centage fee is that it al-
lows the owner to save
fees paid to the contractor
when construction costs
go down.
16. Document ________ should be brought to the attention Errors
of the architect or engineer. Choose the ONE best
answer.
17. The required level of accuracy coupled with the Project Comparison -
amount of information about the project that is avail- Square Foot - Parametric
able will dictate the type of estimate that can be pre- - Model - Assembly - De-
pared. Which of the following is a correct order for tailed
estimating methods from lower to higher accuracy
and time to complete? Choose the ONE best answer.
18. All the answers shown
, STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS | WITH COMPLETE SO
TIONS/NEWEST UPDATE
Study online at https://quizlet.com/_h73cok
To be able to do quantity takeoffs, the estimator must
_____________. Choose the ONE best answer.
19. ___________________ is a drawing or information that Addenda
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.
20. In a _______________ agreement, the contractor agrees Lump-Sum
to construct the project in accordance with the con-
tract 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.
21. Which of the following is not an example of informa- Local ordinances and reg-
tion that should be collected during the site visit after ulations and note any spe-
making a preliminary examination of the drawings cial requirements
and the project manual : Choose the ONE best answer.
22. A _________ contractor is a separate contractor hired by Specialty
the prime contractor to perform certain portions of
the work. Choose the ONE best answer.
23. The following items should be included in common A, B, C, and D
errors doing estimating: Choose the ONE best answer.
24. Computerized estimating
packages do not allow the
