CM 4211 EVALUATION EXAMS 2025/2026 QUESTIONS
WITH ANSWERS TAGGED A+
✔✔What is the best definition of dispute resolution? - ✔✔The acceptable methods for
resolving any disputes that may arise before, during, or after the construction process,
such as arbitration, adjudication, or mediation
✔✔The Owner can specify in the contract how and what subcontractors can be sourced
for the project. - ✔✔True
✔✔The GMP will include which of the following. Select all that apply. - ✔✔(A.Labor and
Materials
B.Overhead and Profit
C.Fees and percentages to make a profit)
All of these answers
✔✔Details for Payment Terms are defined by which of the following. Select all that
apply. - ✔✔Contract
✔✔A strong construction contract will outline the project's scope and leave little to no
room for which of the following. - ✔✔Confusion on either side
✔✔A cost-plus contract is looked upon as a favorable contract by Contractors. -
✔✔True
✔✔Select the best definition for change request. - ✔✔Describes how any requested
changes will be communicated to the general contractor, as well as any fees required
for change orders and timelines for when changes can be requested and handled
✔✔Select the best definition for labor and materials. - ✔✔A contractor who is
responsible for procuring the materials, as well as any costs associated with the labor
and materials needed to complete the work
✔✔The owner can terminate a contract for cause and breach of contract anytime it has
evidentiary proof to do so. - ✔✔True
✔✔What is a Lump-Sum contract? - ✔✔A contract that includes a set price and fee for
all services provided, including all labor and materials
✔✔The construction contract will specify contract details such as which of the following.
- ✔✔Scope of Work
, ✔✔Does a Lump Sum Turnkey have better protections than a normal Lump Sum
contract? - ✔✔Yes
✔✔What is a Unit Price contract? - ✔✔The unit price contract details prices per unit,
which may include materials, labor, overhead, supplies, and profit
✔✔T&M contracts can lead to many disputes on pricing. - ✔✔True
✔✔Sole Proprietors cannot sell what to raise money - ✔✔Shares or Interest
✔✔What company structure increases liability for managers and members - ✔✔(a.LLC
b.S Corporation)
None of the above
✔✔To qualify as a DBE entity, the organization must qualify for one of the federally
recognized disadvantaged populations - ✔✔True
✔✔A C Corporation can be subject to ? and issue ? - ✔✔Double Taxation, stock
✔✔Which company structure allows for holding appreciating assets, real estate, and
stock portfolios - ✔✔LLC
✔✔For a Federal SBA Service-Disabled Veteran Owned Business to qualify for the
classification it must have a rating of: - ✔✔0%
✔✔All states offer asset protection for LLCs with a single owner - ✔✔False
✔✔Some states charge extra fee for operating an LLC - ✔✔True
✔✔How many years can an 8(a) participant be in the program? - ✔✔9 Years
✔✔Sole proprietorships are the simplest form of business structure and are? - ✔✔Easy
and cheap to start due to few government rules
✔✔LLC are businesses that are time consuming, difficult, and more expensive to create
- ✔✔False
✔✔A verb that describes the act of forming a business entity - ✔✔Incorporation
✔✔A noun that describes a type of business entity - ✔✔Corporation
WITH ANSWERS TAGGED A+
✔✔What is the best definition of dispute resolution? - ✔✔The acceptable methods for
resolving any disputes that may arise before, during, or after the construction process,
such as arbitration, adjudication, or mediation
✔✔The Owner can specify in the contract how and what subcontractors can be sourced
for the project. - ✔✔True
✔✔The GMP will include which of the following. Select all that apply. - ✔✔(A.Labor and
Materials
B.Overhead and Profit
C.Fees and percentages to make a profit)
All of these answers
✔✔Details for Payment Terms are defined by which of the following. Select all that
apply. - ✔✔Contract
✔✔A strong construction contract will outline the project's scope and leave little to no
room for which of the following. - ✔✔Confusion on either side
✔✔A cost-plus contract is looked upon as a favorable contract by Contractors. -
✔✔True
✔✔Select the best definition for change request. - ✔✔Describes how any requested
changes will be communicated to the general contractor, as well as any fees required
for change orders and timelines for when changes can be requested and handled
✔✔Select the best definition for labor and materials. - ✔✔A contractor who is
responsible for procuring the materials, as well as any costs associated with the labor
and materials needed to complete the work
✔✔The owner can terminate a contract for cause and breach of contract anytime it has
evidentiary proof to do so. - ✔✔True
✔✔What is a Lump-Sum contract? - ✔✔A contract that includes a set price and fee for
all services provided, including all labor and materials
✔✔The construction contract will specify contract details such as which of the following.
- ✔✔Scope of Work
, ✔✔Does a Lump Sum Turnkey have better protections than a normal Lump Sum
contract? - ✔✔Yes
✔✔What is a Unit Price contract? - ✔✔The unit price contract details prices per unit,
which may include materials, labor, overhead, supplies, and profit
✔✔T&M contracts can lead to many disputes on pricing. - ✔✔True
✔✔Sole Proprietors cannot sell what to raise money - ✔✔Shares or Interest
✔✔What company structure increases liability for managers and members - ✔✔(a.LLC
b.S Corporation)
None of the above
✔✔To qualify as a DBE entity, the organization must qualify for one of the federally
recognized disadvantaged populations - ✔✔True
✔✔A C Corporation can be subject to ? and issue ? - ✔✔Double Taxation, stock
✔✔Which company structure allows for holding appreciating assets, real estate, and
stock portfolios - ✔✔LLC
✔✔For a Federal SBA Service-Disabled Veteran Owned Business to qualify for the
classification it must have a rating of: - ✔✔0%
✔✔All states offer asset protection for LLCs with a single owner - ✔✔False
✔✔Some states charge extra fee for operating an LLC - ✔✔True
✔✔How many years can an 8(a) participant be in the program? - ✔✔9 Years
✔✔Sole proprietorships are the simplest form of business structure and are? - ✔✔Easy
and cheap to start due to few government rules
✔✔LLC are businesses that are time consuming, difficult, and more expensive to create
- ✔✔False
✔✔A verb that describes the act of forming a business entity - ✔✔Incorporation
✔✔A noun that describes a type of business entity - ✔✔Corporation
