Con-367 Exam 2 Questions With Correct
Answers
T/F |Our |textbook |advises |that |the |starting |date |of |a |project |should |not |be |the |date |of |the |
execution |(signing) |of |the |agreement. |- |CORRECT |ANSWER✔✔-True
Under |what |type |of |bond, |the |surety |has |an |obligation |to |the |owner |for |any |additional |costs |
to |complete |the |project |due |to |the |contractor's |failure |to |comply |with |its |contract |
requirements? |- |CORRECT |ANSWER✔✔-Payment |Bond
T/F |Multiple-Peril |Builder's |Risk |Insurance |provides |similar |but |broader |coverage |than |the |
Standard |Builder's |Risk |policy |- |CORRECT |ANSWER✔✔-True
Bid |bonds |should |preferably |be |in |an |amount |equal |to |_____ |percent |of |the |bid |price |for |the |
project. |- |CORRECT |ANSWER✔✔-10%
T/F |The |contract |documents |should |require |that |evidence |of |specified |insurance |be |submitted |
at |the |time |of |submitting |the |bid |bond. |- |CORRECT |ANSWER✔✔-False
T/F |The |following |events |are |in |correct |order: |Bid |Opening-Bid |Award-Notice |to |Proceed-
Signing |of |Agreement |- |CORRECT |ANSWER✔✔-False
T/F |In |construction |projects, |owners |have |a |direct |contractual |relationship |with |the |
subcontractors. |- |CORRECT |ANSWER✔✔-False
T/F |The |utilization |of |a |contractor |quality |control |(CQC) |representative |is |a |requirement |in |
private |construction |projects. |- |CORRECT |ANSWER✔✔-False
, Which |one |of |the |following |is |not |one |of |the |activities |that |can |be |performed |after |the |award |
of |the |contract? |- |CORRECT |ANSWER✔✔-Obtain |and |submit |a |Bid |Bond
T/F |According |to |our |textbook, |the |Resident |Project |Representative |should |adopt |a |"firm |but |
fair" |policy |in |assuring |the |compliance |of |the |Contractor |with |the |contract |documents. |- |
CORRECT |ANSWER✔✔-True
T/F |An |owner |can |suspend |the |work |in |a |construction |project |due |to |unsuitable |weather |
conditions. |- |CORRECT |ANSWER✔✔-True
T/F |Suspensions |and |extensions |of |time |will |necessitate |the |issuance |of |a |formal |change |order.
|- |CORRECT |ANSWER✔✔-True
Which |of |the |following |is |not |a |type |of |a |mobilization |cost |incurred |by |the |Contractor? |- |
CORRECT |ANSWER✔✔-Preparing |the |bid
T/F |In |some |cases, |the |retained |funds |are |held |throughout |the |life |of |the |job; |in |other |cases, |
the |amount |may |be |reduced |or |actually |eliminated |at |some |point |after |the |midpoint |of |the |
project. |- |CORRECT |ANSWER✔✔-True
T/F |Unit-price |contracts |require |a |schedule |of |values |to |be |submitted |before |progress |
payments. |- |CORRECT |ANSWER✔✔-False
Guaranteed |Maximum |Price |Contract |is |a |variation |of |which |other |contract |type? |- |CORRECT |
ANSWER✔✔-Cost |Plus
According |to |the |texbook, |approximately |how |many |days |before |the |payment |due |date |should
|a |contractor |submit |the |progress |payment |request |to |the |Resident |Project |Representative? |- |
CORRECT |ANSWER✔✔-10
Answers
T/F |Our |textbook |advises |that |the |starting |date |of |a |project |should |not |be |the |date |of |the |
execution |(signing) |of |the |agreement. |- |CORRECT |ANSWER✔✔-True
Under |what |type |of |bond, |the |surety |has |an |obligation |to |the |owner |for |any |additional |costs |
to |complete |the |project |due |to |the |contractor's |failure |to |comply |with |its |contract |
requirements? |- |CORRECT |ANSWER✔✔-Payment |Bond
T/F |Multiple-Peril |Builder's |Risk |Insurance |provides |similar |but |broader |coverage |than |the |
Standard |Builder's |Risk |policy |- |CORRECT |ANSWER✔✔-True
Bid |bonds |should |preferably |be |in |an |amount |equal |to |_____ |percent |of |the |bid |price |for |the |
project. |- |CORRECT |ANSWER✔✔-10%
T/F |The |contract |documents |should |require |that |evidence |of |specified |insurance |be |submitted |
at |the |time |of |submitting |the |bid |bond. |- |CORRECT |ANSWER✔✔-False
T/F |The |following |events |are |in |correct |order: |Bid |Opening-Bid |Award-Notice |to |Proceed-
Signing |of |Agreement |- |CORRECT |ANSWER✔✔-False
T/F |In |construction |projects, |owners |have |a |direct |contractual |relationship |with |the |
subcontractors. |- |CORRECT |ANSWER✔✔-False
T/F |The |utilization |of |a |contractor |quality |control |(CQC) |representative |is |a |requirement |in |
private |construction |projects. |- |CORRECT |ANSWER✔✔-False
, Which |one |of |the |following |is |not |one |of |the |activities |that |can |be |performed |after |the |award |
of |the |contract? |- |CORRECT |ANSWER✔✔-Obtain |and |submit |a |Bid |Bond
T/F |According |to |our |textbook, |the |Resident |Project |Representative |should |adopt |a |"firm |but |
fair" |policy |in |assuring |the |compliance |of |the |Contractor |with |the |contract |documents. |- |
CORRECT |ANSWER✔✔-True
T/F |An |owner |can |suspend |the |work |in |a |construction |project |due |to |unsuitable |weather |
conditions. |- |CORRECT |ANSWER✔✔-True
T/F |Suspensions |and |extensions |of |time |will |necessitate |the |issuance |of |a |formal |change |order.
|- |CORRECT |ANSWER✔✔-True
Which |of |the |following |is |not |a |type |of |a |mobilization |cost |incurred |by |the |Contractor? |- |
CORRECT |ANSWER✔✔-Preparing |the |bid
T/F |In |some |cases, |the |retained |funds |are |held |throughout |the |life |of |the |job; |in |other |cases, |
the |amount |may |be |reduced |or |actually |eliminated |at |some |point |after |the |midpoint |of |the |
project. |- |CORRECT |ANSWER✔✔-True
T/F |Unit-price |contracts |require |a |schedule |of |values |to |be |submitted |before |progress |
payments. |- |CORRECT |ANSWER✔✔-False
Guaranteed |Maximum |Price |Contract |is |a |variation |of |which |other |contract |type? |- |CORRECT |
ANSWER✔✔-Cost |Plus
According |to |the |texbook, |approximately |how |many |days |before |the |payment |due |date |should
|a |contractor |submit |the |progress |payment |request |to |the |Resident |Project |Representative? |- |
CORRECT |ANSWER✔✔-10
