Estimates Exam 1 QUESTIONS AND WELL DETAILED
ANSWERS|| GRADED A+|| LATEST UPDATE 2025/26
How does the work involved in being an estimator for a general contractor differ from
that of an estimator who works for a subcontractor? -CORRECTANSWER An estimator
for a general contractor will have to take off the quantities of each material, determine
the cost to furnish and install the materials, assemble the bids of subcontractors, and
determine costs for insurance, permits, and staff. A subcontractor's estimator checks
specifications, review the drawings, determine the quantities required, and put the
proposal together which is substantially less than the general contractor's estimator
What is the difference between doing a quantity takeoff and doing a full detailed
estimate? -CORRECTANSWER A quantity takeoff includes the amount of material
needed to complete a project, whereas a detailed estimate includes determination of the
quantities and costs of everything that is required to complete the project
What additional skills must the estimator have to be able to take a quantity survey and
turn it into a detailed estimate? -CORRECTANSWER An estimator must be able to:
read and quantify plans, be knowledgeable in mathematics, have patience and work
thoroughly, be computer literate, visualize drawings in 3d contexts, have knowledge of
labor operations, to know material cost and availability, meet deadlines, and be
presentable.
,what is the difference between competitive and negotiated bidding? -
CORRECTANSWER Competitive bids involve contractors submitting lump-sum bids or
proposals amongst other contractors to determine the winner which has the best price/
value. In a negotiated bid, the parties arrive at a mutually agreed-upon price, terms and
conditions, and a contractual relationship.
what is the difference between a detailed estimate and a square-foot estimate? -
CORRECTANSWER The information needed for a square foot estimate is less than
what is needed for a detailed estimate. The contractor must have a complete set of
contract documents in a detailed estimate. The detailed estimate must establish the
estimated quantities and costs of the materials, the time required and its cost, the items
required for overhead and the cost of each item, and the percentage of profit desired,
considering the investment, the time to complete, and the complexity of the project.
Square-foot estimates are prepared by multiplying the square footage of a building by a
cost per square foot and then adjusting the price to compensate for differences in the
building heights, length of the building perimeters, and other building components.
What is a single contract, and what are its principal advantages and disadvantages for
the owner? -CORRECTANSWER The single contract comprises all work required for
the completion of a project and is the responsibility of a single, prime contractor. This
centralization of responsibility provides that one of the distinctive functions of the
general contractor is to plan, direct, and coordinate all parties involved in completing the
project. The subcontractors and material suppliers respond directly to the general
, contractor who is responsible directly to the owner. A disadvantage of the single
contract is the markup for the GC's services which the owner would not want to pay if
they could the work themselves
What are separate contracts, and what are the principal advantages and disadvantages
for the owner -CORRECTANSWER The owner signs separate agreements for the
construction of various portions of a project. The owner retains the opportunity to select
the contractors for the various important phases of the project. The responsibility for the
installation and operations of the phases are between the owner and subcontractors
rather than the general contractor. An Advantage is how cost effective the contract is by
cutting out the middleman. However, the disadvantage, is that the owner must shoulder
all associated risks and hire someone that can get the job done if they can not
effectively delegate.
Lump-sum: -CORRECTANSWER the contractor agrees to construct the project in
accordance with the contract documents. For a set price arrived at through competitive
bidding or negotiation. This agreement provides the owner advanced knowledge of the
construction costs and requires the contractor to accept the bulk of the risk associated
with the project.
unit price -CORRECTANSWER the contractor bases the bid on estimated quantities of
work and on the completion of work in accordance with the contact documents.
ANSWERS|| GRADED A+|| LATEST UPDATE 2025/26
How does the work involved in being an estimator for a general contractor differ from
that of an estimator who works for a subcontractor? -CORRECTANSWER An estimator
for a general contractor will have to take off the quantities of each material, determine
the cost to furnish and install the materials, assemble the bids of subcontractors, and
determine costs for insurance, permits, and staff. A subcontractor's estimator checks
specifications, review the drawings, determine the quantities required, and put the
proposal together which is substantially less than the general contractor's estimator
What is the difference between doing a quantity takeoff and doing a full detailed
estimate? -CORRECTANSWER A quantity takeoff includes the amount of material
needed to complete a project, whereas a detailed estimate includes determination of the
quantities and costs of everything that is required to complete the project
What additional skills must the estimator have to be able to take a quantity survey and
turn it into a detailed estimate? -CORRECTANSWER An estimator must be able to:
read and quantify plans, be knowledgeable in mathematics, have patience and work
thoroughly, be computer literate, visualize drawings in 3d contexts, have knowledge of
labor operations, to know material cost and availability, meet deadlines, and be
presentable.
,what is the difference between competitive and negotiated bidding? -
CORRECTANSWER Competitive bids involve contractors submitting lump-sum bids or
proposals amongst other contractors to determine the winner which has the best price/
value. In a negotiated bid, the parties arrive at a mutually agreed-upon price, terms and
conditions, and a contractual relationship.
what is the difference between a detailed estimate and a square-foot estimate? -
CORRECTANSWER The information needed for a square foot estimate is less than
what is needed for a detailed estimate. The contractor must have a complete set of
contract documents in a detailed estimate. The detailed estimate must establish the
estimated quantities and costs of the materials, the time required and its cost, the items
required for overhead and the cost of each item, and the percentage of profit desired,
considering the investment, the time to complete, and the complexity of the project.
Square-foot estimates are prepared by multiplying the square footage of a building by a
cost per square foot and then adjusting the price to compensate for differences in the
building heights, length of the building perimeters, and other building components.
What is a single contract, and what are its principal advantages and disadvantages for
the owner? -CORRECTANSWER The single contract comprises all work required for
the completion of a project and is the responsibility of a single, prime contractor. This
centralization of responsibility provides that one of the distinctive functions of the
general contractor is to plan, direct, and coordinate all parties involved in completing the
project. The subcontractors and material suppliers respond directly to the general
, contractor who is responsible directly to the owner. A disadvantage of the single
contract is the markup for the GC's services which the owner would not want to pay if
they could the work themselves
What are separate contracts, and what are the principal advantages and disadvantages
for the owner -CORRECTANSWER The owner signs separate agreements for the
construction of various portions of a project. The owner retains the opportunity to select
the contractors for the various important phases of the project. The responsibility for the
installation and operations of the phases are between the owner and subcontractors
rather than the general contractor. An Advantage is how cost effective the contract is by
cutting out the middleman. However, the disadvantage, is that the owner must shoulder
all associated risks and hire someone that can get the job done if they can not
effectively delegate.
Lump-sum: -CORRECTANSWER the contractor agrees to construct the project in
accordance with the contract documents. For a set price arrived at through competitive
bidding or negotiation. This agreement provides the owner advanced knowledge of the
construction costs and requires the contractor to accept the bulk of the risk associated
with the project.
unit price -CORRECTANSWER the contractor bases the bid on estimated quantities of
work and on the completion of work in accordance with the contact documents.
