Exam (elaborations)
Cstm451 Final Exam Questions and Answers 2024( A+ GRADED 100% VERIFIED).
- Course
- Institution
Cstm451 Final Exam Questions and Answers 2024( A+ GRADED 100% VERIFIED).
[Show more]
Seller
Follow
Content preview
Cstm451 FinalUnder the CM-at-Risk Delivery method the designer holds the trade contracts and takes
responsibility for the performance of the work - ANS False
One of ___________ codes for builders is that:if a builder builds a house and does not
construct it properly and the house falls in and kills its owner, the builder is put to death -
ANS C. Hammurabi's
According to the text, which of the following is the perfect delivery method? - ANS E.
None of the above
Under a GMP basis of reimbursement the contractor is responsible for cost overruns
due to their own fault within their scope of work that causes the total contract amount to
exceed the GMP. - ANS True
According to the text, an Agent CM should provide advice and consultation regarding a
range of issues including but not limited to site use and improvements, programming
and establishing the scope of work...... - ANS True
Prequalification is the process by which qualifications of prospective designers or
constructors are examined prior to those persons/ companies being solicited to compete
for the project. - ANS True
GMP contracts are almost always considered "Transparent". - ANS True
A Lump Sum contract is most often associated with which delivery method? - ANS E.
Design-Bid-Build
According to the text, the essence of a change clause in a construction contract is that
the owner has the right to direct changes in the work, and the constructor has the right
to an equitable adjustment in the contract amount. - ANS True
According to the text, change clauses are common in construction contracts and in
design contracts. - ANS False
By definition, Design-Bid-Build can be procured with either Low Bid or Best Value: Total
Cost according to the text. - ANS True
, According to the text, the design contingency included in the costs for a Design-Build
project tends to __________ as the documents become more defined. - ANS A.
Decrease
According to the text, which of the following is NOT one of the five phases of a
construction project? - ANS E. Programming
According to the text, when establishing the GMP, the GMP is often set near what
percentage of completed drawings? - ANS D. 60%-65%
The phase of construction referred to in the previous question is often called the
completion of the _______________ phase. - ANS C. Design Development
Which of the following accelerated procurement methods generally relies on a unit price
contracting? - ANS D. Job Order Contract
According to the text, Sole Source procurement is a type of QBS. - ANS True
This insurance is property insurance that covers against physical damage to the work
while construction is in progress and has historically been purchased by the owner. -
ANS C. Builder's Risk Insurance
According to the text, which of the following is not one of the components of the "Total
Construction Costs" (TCC)? - ANS C. Construction Contingency
According to the text, the term "Negotiated" is used to describe which of the following? -
ANS D. Procurement
According to AGC, CM @ Risk can be procured with either Best Value: Fees or QBS. -
ANS True
Due to owners having control of the selection process and the requirement of less
resources for implementation, more owners are choosing this procurement method
(according to DBIA)? - ANS D. Qualifications Based Selection
According to DBIA, what type of contract holds the least risk for the owner? - ANS C.
Lump Sum
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KINGJAY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80435 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now