NASCLA Contractor's Guide UPDATED ACTUAL Questions and CORRECT
Answers
bid documents
Name the elements of a business plan
advantages of sole proprietorship
disadvantages of sole proprietorship
who has limited liability in the company?
advantages of a general partnership
disadvantages of a general partnership
, the death of a gen-eral partner
-cover page
-executive summary
-company summary
-products and services
-market analysis
-marketing strategy
-financial plan
-minimal legal restrictions
-simple ownership form
-low start up costs
-sole ownership of profits
-freedom in decision making
process
-unlimited personal liability
-less available capital
-possible diflculty obtaining long-term
financing
-dissolution of the business on the
even of the owner'sdeath
limited partners
-ease of formation
-direct profit rewards
-larger management base than that of a
sole proprietor-ship
-unlimited personal liability of general
partners
-multiple decision makers
-limited life of the business
-changes of partners or partnership
agreement may bediflcult
-partnership dissolves in the event of
, -invitation to bid
-bid instructions
-bid forms
-supplements
gives a brief overview of the project, deadlines, and gen-
what is an invitation to bid
eral requirements
contain specifics of how the bis should be completed and
bid instructions
submitted
bid sheet
bid schedule
bid forms bidder's questionnaire on the experience
financial responsibility and capability
copy of the contract
includes all items important to the overall bid process such
supplements
as property and soil analysis
when setting up your estimating framework to make sure
what is the estimating checklist helpful for?
that you have accounted for all materials and labor
what is the most effective estimating method? quantity take off method
(30% of labor cost)
medicare and social security
federal unemployment insurance
what is labor burden worker's compensation
liability insurance
state unemployment insurance
company benefits (health insurance, vacations)
small tools and pickup trucks are examples of? what are indirect costs
items not specified in the project plans such as carpeting,
what are allowances
fixtures, and lighting)
Answers
bid documents
Name the elements of a business plan
advantages of sole proprietorship
disadvantages of sole proprietorship
who has limited liability in the company?
advantages of a general partnership
disadvantages of a general partnership
, the death of a gen-eral partner
-cover page
-executive summary
-company summary
-products and services
-market analysis
-marketing strategy
-financial plan
-minimal legal restrictions
-simple ownership form
-low start up costs
-sole ownership of profits
-freedom in decision making
process
-unlimited personal liability
-less available capital
-possible diflculty obtaining long-term
financing
-dissolution of the business on the
even of the owner'sdeath
limited partners
-ease of formation
-direct profit rewards
-larger management base than that of a
sole proprietor-ship
-unlimited personal liability of general
partners
-multiple decision makers
-limited life of the business
-changes of partners or partnership
agreement may bediflcult
-partnership dissolves in the event of
, -invitation to bid
-bid instructions
-bid forms
-supplements
gives a brief overview of the project, deadlines, and gen-
what is an invitation to bid
eral requirements
contain specifics of how the bis should be completed and
bid instructions
submitted
bid sheet
bid schedule
bid forms bidder's questionnaire on the experience
financial responsibility and capability
copy of the contract
includes all items important to the overall bid process such
supplements
as property and soil analysis
when setting up your estimating framework to make sure
what is the estimating checklist helpful for?
that you have accounted for all materials and labor
what is the most effective estimating method? quantity take off method
(30% of labor cost)
medicare and social security
federal unemployment insurance
what is labor burden worker's compensation
liability insurance
state unemployment insurance
company benefits (health insurance, vacations)
small tools and pickup trucks are examples of? what are indirect costs
items not specified in the project plans such as carpeting,
what are allowances
fixtures, and lighting)
