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CM 4221 Quizzes Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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CM 4221 Quizzes Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 26, 2024
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  • 2023/2024
  • Exam (elaborations)
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  • cm 4221 quizzes questions with 100 actual correct

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CM 4221 Quizzes
How many CSI divisions does the post-2004 masterformat have? - ANS-50 Divisions

What is an EIS? - ANS-A document prepared to describe the effects for proposed construction
activities on the surrounding natural and physical environment

This testing process helps to reduce the risk that major project systems (HVAC, electrical, etc)
will work according to the project objectives, plans, and specifications - ANS-Commissioning

Based on laws and regulations, privately financed projects must utilize competitive bidding to
procure a construction firm - ANS-False

Bid shipping is illegal, yet construction companies still use it gain a competitive edge -
ANS-False

An agency construction manager firm is contracted with the Owner, lead designer, and
construction firm on a project - ANS-False; An agency CM firm only contracts with the Owner of
the project. There is no contract between the lead designer and construction firm and the
agency CM

Low bid is a procurement procedure used to select a contractor based solely on total
construction cost - ANS-True

One major advantage of multi-prime contracting is the ease in phasing a project - ANS-True

Which of the following delivery methods is the most used method in construction today? -
ANS-Design-Bid-Build

This procurement procedure utilizes cost and technical factors to select a construction firm for a
project - ANS-Best Value

Retained earnings is defined as an inflow of assets, not necessarily cash, in exchange of goods
and services sold - ANS-False

For a company's annual balance sheet, the total amount of assets must always equal the total
amount of liabilities plus the total amount of equity - ANS-True

The quick ratio is calculated by adding all cash and receivables and dividing that value by the
total current liabilities for a company - ANS-True

, A construction firm has just purchased a 3D printer for performing small scale construction work
on commercial projects. The initial cost of the new asset is $150,000. The firm expects to use
the 3D printer for 12 years and expects to salvage the printer for $3,000 at that time. What is the
annual depreciation of the 3D printer? - ANS-$12,250

Which of the following is considered a long-term debt? - ANS-Construction loan

Which of the following contract terms does NOT influence a project's cash flow?
-payment terms and payment schedule
-mobilization
-subcontractor payment requirements
-provisions for stockpile of materials
-none of these - ANS-None of these

What is retainage? - ANS-An amount of money that the Owner holds from every pay app to
ensure the contractor continues the work as business as usual

The scheduled values shown in column C of G703 Continuation Sheet are monetary values that
the contractor can change from one pay app to the next pay app to better fit the cash flow
requirements of the contractor - ANS-False

A cash flow schematic diagram is used to forecast the maximum amount of working capital a
contractor will need to have to finance the construction work - ANS-True

The G702 payment application and G703 continuation sheet are common documents used in
construction for requesting payment from an Owner for completed work by a contractor -
ANS-True

Which statistical control method is used to determine if the variance of two samples are
statistically the same or different? - ANS-F-test

A t-statistic was calculated to be 2.39. The critical t-value for this test is 3.37. What does this
mean in terms of the mean values for two different sample sets for the same testing method? -
ANS-The t-statistic is less than the critical t-value, so that means the means are statistically the
same between the two samples

Using quality management helps to establish true quality control for a project by making quality
"inspected-in" rather than "built-in" - ANS-False

A project that shows good quality will be completed per the design and specs as well as being
completed on time and on budget - ANS-True

Increasing the size of a sample increases the reliability of the testing and also decreases the
cost of testing - ANS-False

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