CM 3111 Test Questions and Answers | New
2025/2026 Update | With Complete Solutions
What is estimating?
determination of probable construction costs for a project
What are prepared from the contract documents?
Plans
Project manual (specs)
What is estimating used for?
establish project budget
order materials
Profit Margin
provides the general contractor an acceptable rate of return and compensation for the risk
associated with the project
Liquidated Damages
penalized for late work
Detailed Estimates
determines quantity and cost of everything required for project (materials, labor, equipment)
Assembly Estimates
bid by groups of components
, Square-foot Estimates
bid based on average cost per square foot
Model Estimates
prepares an estimate based upon the answers to a number of questions
Quantity Takeoff Skills
read and quantify plans
knowledge of math and geometry
patience
does careful and thorough work
computer literate with takeoff software
Competitive Bid
awarded based upon lowest price and best value
Negotiated Bid
owner and contractor agree upon price
Invitation to Bid
invites potential contractors to bid on the project and provide a brief summary of the project
Instructions to Bidders
provides bidders with the procedures that must be followed to submit a complete bid
Bid Form
2025/2026 Update | With Complete Solutions
What is estimating?
determination of probable construction costs for a project
What are prepared from the contract documents?
Plans
Project manual (specs)
What is estimating used for?
establish project budget
order materials
Profit Margin
provides the general contractor an acceptable rate of return and compensation for the risk
associated with the project
Liquidated Damages
penalized for late work
Detailed Estimates
determines quantity and cost of everything required for project (materials, labor, equipment)
Assembly Estimates
bid by groups of components
, Square-foot Estimates
bid based on average cost per square foot
Model Estimates
prepares an estimate based upon the answers to a number of questions
Quantity Takeoff Skills
read and quantify plans
knowledge of math and geometry
patience
does careful and thorough work
computer literate with takeoff software
Competitive Bid
awarded based upon lowest price and best value
Negotiated Bid
owner and contractor agree upon price
Invitation to Bid
invites potential contractors to bid on the project and provide a brief summary of the project
Instructions to Bidders
provides bidders with the procedures that must be followed to submit a complete bid
Bid Form
