CM 410 Final Exam Questions & Answers 100% Correct

*5 types of bonds* - ANSWERBid bond Performance bond Payment bond Warranty bond Green bond *A101* - ANSWERLUMP sum contract *A111* - ANSWERCOST OF THE WORK PLUS FEE *A121 CMc* - ANSWERCM @ Risk *A131 CMc* - ANSWERCM @ Management A141 - ANSWERDesign-build *A201* - ANSWERGeneral Conditions A401 - ANSWERAgreement between contractor and sub All Risk Insurance - ANSWERInsurance that covers loss caused by all perils except those specifically excluded in the contract. Covers all direct loss but freezing settlement rain and snow Does not cover the costs of connections due to errors and omissions Most common B141 Part 1 - ANSWERAgreement between owner and architect with standard form of architect's services Bid Bond - ANSWERIf low bidder; owner is assured contractor will enter into contract; surety cover 5-10% of bid price B