CM 2113 Midterm Questions with Correct Answers (Grade A+)
Question 1: construction equipment is a ______________ for most projects
Answer: critical resource
Question 2: _________________ may represent the largest long-term investment of the company
Answer: equipment fleet
Question 3: equipment management decisions have a significant impact on _________________
Answer: profitability
Question 4: equipment must _______ for itself
Answer: pay
Question 5: equipment must earn more than it costs to:
Answer: purchase own use
Question 6: when the equipment is sitting still it is a_____________
Answer: ownership costs
Question 7: when the equipment is being used it is a ________________
Answer: operating cost
Question 8: construction brings together:
Answer: people tools equipment
Question 9: plan for the acquisition of equipment that will enable the company to complete projects
economically
Answer: engineering economic decisions
Question 10: _________________ makes engineering economic decisions difficult
Answer: estimating a required investment
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, Question 11: __________________ makes engineering economic decisions difficult
Answer: forecasting a demand
Question 12: __________________ makes engineering economic decisions difficult
Answer: estimating a selling price
Question 13: _________________ makes engineering economic decisions difficult
Answer: time and uncertainty
Question 14: accounting evaluates?
Answer: past performances
Question 15: engineering economics evaluates?
Answer: future events
Question 16: the cost of owning, leasing, or renting the equipment
Answer: owning cost
Question 17: the cost of operating, maintaining, and repairing the equipment
Answer: operating cost
Question 18: selecting the proper type and size
Answer: cost effectiveness
Question 19: to control project costs and minimize equipment transportation cost
Answer: versatility
Question 20: when selecting equipment you should consider:
Answer: cost effectiveness and versatility
Question 21: a nearby dollar is worth more than a distant dollar
Answer: principle 1 of EE
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Question 1: construction equipment is a ______________ for most projects
Answer: critical resource
Question 2: _________________ may represent the largest long-term investment of the company
Answer: equipment fleet
Question 3: equipment management decisions have a significant impact on _________________
Answer: profitability
Question 4: equipment must _______ for itself
Answer: pay
Question 5: equipment must earn more than it costs to:
Answer: purchase own use
Question 6: when the equipment is sitting still it is a_____________
Answer: ownership costs
Question 7: when the equipment is being used it is a ________________
Answer: operating cost
Question 8: construction brings together:
Answer: people tools equipment
Question 9: plan for the acquisition of equipment that will enable the company to complete projects
economically
Answer: engineering economic decisions
Question 10: _________________ makes engineering economic decisions difficult
Answer: estimating a required investment
Page 1
, Question 11: __________________ makes engineering economic decisions difficult
Answer: forecasting a demand
Question 12: __________________ makes engineering economic decisions difficult
Answer: estimating a selling price
Question 13: _________________ makes engineering economic decisions difficult
Answer: time and uncertainty
Question 14: accounting evaluates?
Answer: past performances
Question 15: engineering economics evaluates?
Answer: future events
Question 16: the cost of owning, leasing, or renting the equipment
Answer: owning cost
Question 17: the cost of operating, maintaining, and repairing the equipment
Answer: operating cost
Question 18: selecting the proper type and size
Answer: cost effectiveness
Question 19: to control project costs and minimize equipment transportation cost
Answer: versatility
Question 20: when selecting equipment you should consider:
Answer: cost effectiveness and versatility
Question 21: a nearby dollar is worth more than a distant dollar
Answer: principle 1 of EE
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