IDPX Final Exam Questions And Answers
Which of the following is NOT true about the Design-Bid-Build
project delivery method?
generally produces the lowest cost
takes longer than other delivery methods
the contractor may point out problems, make suggestion or
propose changes in the design or specification to reduce the cost of
the project
is the traditional approach to project delivery -
correct answer the contractor may point out problems, make
suggestion or propose changes in the design or specification to
reduce the cost of the project
All of the following are true for a sole proprietorship EXCEPT?
is owned by an individual and operates under either the individual's
nameor a company name
difficult to raise capital and establish credit
,IDPX Final Exam Questions And Answers
is one of the easier types of business to sell
is one of the simplest types of business to set up -
correct answer is one of the easier types of business to sell
In a sole proprietorship, because the business depends primarily on
the work and reputation of the owner, it may be difficult to sell the
business, and the company usually ceases to exist when the owner
quits or dies.
What provision may be included in a Owner-Contractor Agreement
in order to return anticipated losses to the owner in the event that
the contractor cannot complete the project on time?
Compensatory damages
Penalty clause
Liquidated damages
Bonus provision -
correct answer Liquidated damages
,IDPX Final Exam Questions And Answers
Liquidated damages
represent an amount agreed upon by both the owner and the
contractor in the event that the contractor cannot complete the
project on time.
An accident involving the incorrect installation of an office
workstation has caused the owner to file a claim against the interior
designer.
Which should provide protection from this claim?
personal injury protection insurance
errors and omissions insurance
property insurance
general liability insurance -
correct answer errors and omissions insurance
Errors and omissions insurance
(E&O), sometimes called professional liability insurance, covers
lawsuits brought by third parties (anyone who isn't an employee)
who claim you were negligent in your professional duties.
, IDPX Final Exam Questions And Answers
When using B254-2019, prior to entering into a contract with a
vendor, the Interior Designer should provide what to the Owner for
written approval?
A portfolio of the vendor's previous work
Proof of Interior Designer's funds held in escrow for the purchase of
the FF&E
Descriptions, prices and quantities of the items intended for
purchase
Proof of the bidding process used to select the vendor -
correct answer Descriptions, prices and quantities of the items
intended for purchase
An interior designer or design firm should carry all
of the following types insurance except?
interior design insurance
automobile insurance
Which of the following is NOT true about the Design-Bid-Build
project delivery method?
generally produces the lowest cost
takes longer than other delivery methods
the contractor may point out problems, make suggestion or
propose changes in the design or specification to reduce the cost of
the project
is the traditional approach to project delivery -
correct answer the contractor may point out problems, make
suggestion or propose changes in the design or specification to
reduce the cost of the project
All of the following are true for a sole proprietorship EXCEPT?
is owned by an individual and operates under either the individual's
nameor a company name
difficult to raise capital and establish credit
,IDPX Final Exam Questions And Answers
is one of the easier types of business to sell
is one of the simplest types of business to set up -
correct answer is one of the easier types of business to sell
In a sole proprietorship, because the business depends primarily on
the work and reputation of the owner, it may be difficult to sell the
business, and the company usually ceases to exist when the owner
quits or dies.
What provision may be included in a Owner-Contractor Agreement
in order to return anticipated losses to the owner in the event that
the contractor cannot complete the project on time?
Compensatory damages
Penalty clause
Liquidated damages
Bonus provision -
correct answer Liquidated damages
,IDPX Final Exam Questions And Answers
Liquidated damages
represent an amount agreed upon by both the owner and the
contractor in the event that the contractor cannot complete the
project on time.
An accident involving the incorrect installation of an office
workstation has caused the owner to file a claim against the interior
designer.
Which should provide protection from this claim?
personal injury protection insurance
errors and omissions insurance
property insurance
general liability insurance -
correct answer errors and omissions insurance
Errors and omissions insurance
(E&O), sometimes called professional liability insurance, covers
lawsuits brought by third parties (anyone who isn't an employee)
who claim you were negligent in your professional duties.
, IDPX Final Exam Questions And Answers
When using B254-2019, prior to entering into a contract with a
vendor, the Interior Designer should provide what to the Owner for
written approval?
A portfolio of the vendor's previous work
Proof of Interior Designer's funds held in escrow for the purchase of
the FF&E
Descriptions, prices and quantities of the items intended for
purchase
Proof of the bidding process used to select the vendor -
correct answer Descriptions, prices and quantities of the items
intended for purchase
An interior designer or design firm should carry all
of the following types insurance except?
interior design insurance
automobile insurance
