CEP-Test UPDATED ACTUAL Exam
Questions and CORRECT Answers
account code structure - CORRECT ANSWER - System useef to assign number to
elements of the work brekdown and account number to individual work packages
Account number - CORRECT ANSWER - An alphanumeric identification of a work
package
Activity - CORRECT ANSWER - An operation or process consuming time and and
possibility resources. An activity is an element of work that must be performed in order to
complete a project.
Acts of god - CORRECT ANSWER - An extraordinary interruption by a natural cause as a
flood or earthquake. An event in nature over which neither the owner nor the contractor has
control.
Actual costs - CORRECT ANSWER - The actual expenditures incurred by a program or a
project.
Addenda - CORRECT ANSWER - Written or graphic instruments issued prior to the
opening of Bids which modify the bidding documents by addition, deletion, clarification or
corrections
Allowances - CORRECT ANSWER - Resources included in estimates to cover the cost of
known but undefined requirements for a specific activity.
Amendement - CORRECT ANSWER - A subsequent agreement after the contract is
signed that modifies it.
Annually recurring costs - CORRECT ANSWER - Those costs that are incurred in a
regular pattern each year
,Authorized work - CORRECT ANSWER - Work that has been authorized by the client
where the scope may or may not be well defined at the time of authorization
Backcharge - CORRECT ANSWER - Faulty work by the contractor which cost is
deducted from the amount owed to the contractor.
Backup - CORRECT ANSWER - Supporting documentation for estimate that includes
calculation, description of data and supporting documentation of data.
Base period - CORRECT ANSWER - Period for which an index is defined as 100 or 1
Base point for escalation - CORRECT ANSWER - Is the cos index used to calculate
escalation as the basis
Baseline - CORRECT ANSWER - In project control, the reference plans in which cost,
schedule, scope and other project performance criteria are documented and against which
performance measures are assessed.
Basis - CORRECT ANSWER - Documentation that describes how and estimate, schedule
or other plan component was developed and defined the information used in support of the
development.
Battery limit - CORRECT ANSWER - Geographical boundaries imaginary or real that a
plant or unit is located at being engineered or erected.
Benchmarking - CORRECT ANSWER - Measurement or analysis process that compares
processes, practices and relevant to a selected basis to improve performance.
, Beneficial occupancy - CORRECT ANSWER - Building is used by owner for its intended
purposes, although other contract work nonessential to the function of the ocupéis section
remains to be completed.
Bid - CORRECT ANSWER - To submit a price for a service either verbal or written, for
doing work and supplying material and equipment.
Bidder - CORRECT ANSWER - Individual, corporation or partnership that submits a bid
directly to the owner.
Bid shopping - CORRECT ANSWER - Prime contractor goes around to shop for quotes
from other subcontractors and suppliers trying to make them underbid the original
subcontractor's proposal.
Bidding Documents - CORRECT ANSWER - The invitation to bid, instructions to
bidders, bid form, and the contract documents including addenda
Bidding requirements - CORRECT ANSWER - invitation to bid, pre-qualification forms,
instruction to bidders, additional information available, bid forms
Bonds - CORRECT ANSWER - Instruments of security furnished by the contractor and
surety in accordance with the contract. Payment bond, performance bond and those instruments
of security required in the contract documents.
Bond, Bid - CORRECT ANSWER - A bond that guarantees the bidder will enter into a
contract on the basis of the bid
Bond, payment - CORRECT ANSWER - A bond that is executed in connection with a
contract and which secured the payment of a all persons suppliying labor and material in the
prosecution of the work provided for in the contract.
Questions and CORRECT Answers
account code structure - CORRECT ANSWER - System useef to assign number to
elements of the work brekdown and account number to individual work packages
Account number - CORRECT ANSWER - An alphanumeric identification of a work
package
Activity - CORRECT ANSWER - An operation or process consuming time and and
possibility resources. An activity is an element of work that must be performed in order to
complete a project.
Acts of god - CORRECT ANSWER - An extraordinary interruption by a natural cause as a
flood or earthquake. An event in nature over which neither the owner nor the contractor has
control.
Actual costs - CORRECT ANSWER - The actual expenditures incurred by a program or a
project.
Addenda - CORRECT ANSWER - Written or graphic instruments issued prior to the
opening of Bids which modify the bidding documents by addition, deletion, clarification or
corrections
Allowances - CORRECT ANSWER - Resources included in estimates to cover the cost of
known but undefined requirements for a specific activity.
Amendement - CORRECT ANSWER - A subsequent agreement after the contract is
signed that modifies it.
Annually recurring costs - CORRECT ANSWER - Those costs that are incurred in a
regular pattern each year
,Authorized work - CORRECT ANSWER - Work that has been authorized by the client
where the scope may or may not be well defined at the time of authorization
Backcharge - CORRECT ANSWER - Faulty work by the contractor which cost is
deducted from the amount owed to the contractor.
Backup - CORRECT ANSWER - Supporting documentation for estimate that includes
calculation, description of data and supporting documentation of data.
Base period - CORRECT ANSWER - Period for which an index is defined as 100 or 1
Base point for escalation - CORRECT ANSWER - Is the cos index used to calculate
escalation as the basis
Baseline - CORRECT ANSWER - In project control, the reference plans in which cost,
schedule, scope and other project performance criteria are documented and against which
performance measures are assessed.
Basis - CORRECT ANSWER - Documentation that describes how and estimate, schedule
or other plan component was developed and defined the information used in support of the
development.
Battery limit - CORRECT ANSWER - Geographical boundaries imaginary or real that a
plant or unit is located at being engineered or erected.
Benchmarking - CORRECT ANSWER - Measurement or analysis process that compares
processes, practices and relevant to a selected basis to improve performance.
, Beneficial occupancy - CORRECT ANSWER - Building is used by owner for its intended
purposes, although other contract work nonessential to the function of the ocupéis section
remains to be completed.
Bid - CORRECT ANSWER - To submit a price for a service either verbal or written, for
doing work and supplying material and equipment.
Bidder - CORRECT ANSWER - Individual, corporation or partnership that submits a bid
directly to the owner.
Bid shopping - CORRECT ANSWER - Prime contractor goes around to shop for quotes
from other subcontractors and suppliers trying to make them underbid the original
subcontractor's proposal.
Bidding Documents - CORRECT ANSWER - The invitation to bid, instructions to
bidders, bid form, and the contract documents including addenda
Bidding requirements - CORRECT ANSWER - invitation to bid, pre-qualification forms,
instruction to bidders, additional information available, bid forms
Bonds - CORRECT ANSWER - Instruments of security furnished by the contractor and
surety in accordance with the contract. Payment bond, performance bond and those instruments
of security required in the contract documents.
Bond, Bid - CORRECT ANSWER - A bond that guarantees the bidder will enter into a
contract on the basis of the bid
Bond, payment - CORRECT ANSWER - A bond that is executed in connection with a
contract and which secured the payment of a all persons suppliying labor and material in the
prosecution of the work provided for in the contract.
