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CMPM Questions with complete solution 2024/2025

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CMPM Questions with complete solution 2024/2025 CMPM Construction Contract - correct answer A ___________________________ provides a written legal binding agreement, for both the owner and the builder, that the executed job will receive the specific amount of compensation or how the compensat...

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  • October 3, 2024
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  • 2024/2025
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Carzola98
CMPM
Construction Contract - correct answer ✔A
___________________________ provides a written legal binding agreement,
for both the owner and the builder, that the executed job will receive the
specific amount of compensation or how the compensation will be distributed


AGREEMENT - correct answer ✔The document that formalizes the
construction contract and is the basic contract.


GENERAL CONDITIONS - correct answer ✔The portion of the contract
document in which the rights and responsibilities of the involved parties are
itemized.


SUPPLEMENTARY CONDITION - correct answer ✔A portion of a contract
documents that supplements, modifies, changes, adds to, or delete from
provisions stated in the general conditions.


DRAWINGS - correct answer ✔The actual plans from which the project is to
be built.


ADDENDA - correct answer ✔The document that modifies the basic contract
documents after it has been issued to the bidder, but prior to the taking of bids


Price Given in Advance Contracts (Price-based Contracts)
Cost Reimbursement Contracts (Cost-based Contracts) - correct answer
✔TYPES OF CONSTRUCTION CONTRACTS


Lump- Sum Contract - correct answer ✔Contractor agrees to perform job of
work for a fixed sum of money.

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