Estimating Quizzes Certification Exam Questions With Correct Detailed Answers.
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Course
ESTIMATICS.
Institution
ESTIMATICS.
What type of estimate is prepared by multiplying the square footage of a building by a cost per square foot? - correct answer Square-foot Estimate
By taking off building elements in broad groups, this type of estimate can be prepared fairly quickly (in hours) with moderate accuracy: - corre...
What type of estimate is prepared by multiplying the square footage of a building by a cost per square
foot? - correct answer Square-foot Estimate
By taking off building elements in broad groups, this type of estimate can be prepared fairly quickly (in
hours) with moderate accuracy: - correct answer Assembly Estimate
Which of the following is NOT a component of a detailed estimate? - correct answer A/E Fee
What is the formula for using location factors to adjust cost estimates? - correct answer (Index for
City A/Index for City B)*Cost in City B = Cost in City A
What is the formula for using the historical cost index to adjust cost estimates for time? - correct answer
(Index for Year A/Index for Year B)*Cost in Year B = Cost in Year A
What is the base year for the current cost index in RS Means [in the video]? - correct answer 2016
The cost per square foot of a building may be determined by ________ the cost by the size of the
building. - correct answer Dividing
Square-Foot Estimates are more time consuming than? - correct answer Project Comparison
Estimates
Why would a construction firm not use the quantities proved to them for their estimate? - correct
answer Gives the firm a competitive advantage to use their own numbers
What is unbalancing a unit-price bid? - correct answer Heavy loading the cost of the beginning of a
project, while equally lessening the cost of the latter part of the project
, Project overhead is typically _________ percent of the total project cost? - correct answer 5-15
For what type of bid will cost savings typically go directly to the general contractor? - correct answer
Lump Sum (Hard Bid)
What type of bid is procured similar to a lump sum, but profit is limited to a specified amount? - correct
answer GMP
Typically, what type of bid is utilized for heavy civil projects? - correct answer Unit Price
What are the contract documents? - correct answer All the documents that must be signed to legalize
the work between the contractor and the owner
All the documents needed to prepare a complete and accurate estimate.
Why do we need to visit the worksite? - correct answer The information obtained will influence our
bid
To check for unforeseen conditions
What is the addenda? - correct answer The documents issued to bidders before the bid to notify
them of any changes.
What formalizes the contract? - correct answer The Agreement
Which describes Closed Specifications? - correct answer Described by model name or number
Which describes the Bid Documents? - correct answer Agreement, Drawings, General Conditions
If the subs ? quotes come in late, will it affect the overall bid of the project? - correct answer Yes
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