CMIT EXAM NEWEST 2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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Course
CMIT
Institution
CMIT
Under a fixed fee approach to agency CM compensation,
which of the following statements is NOT true?
A) The fixed fee approach can have an adverse effect on both
the CM and the owner.
B) Unexpected problems could require a CM to expend more
costs than budgeted for staff to perform tasks.
C...
CMIT EXAM NEWEST 2024 ACTUAL EXAM 200
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Under a fixed fee approach to agency CM compensation,
which of the following statements is NOT true?
A) The fixed fee approach can have an adverse effect on both
the CM and the owner.
B) Unexpected problems could require a CM to expend more
costs than budgeted for staff to perform tasks.
C) The CM is not expected to perform a greater level of effort
than originally anticipated.
D) Some believe that a temptation always exists for the CM to
put forth less effort than anticipated or actually required. -
...ANSWER...C) The CM is not expected to perform a greater
level of effort than originally anticipated.
The cost plus fixed fee method of CM compensation can be
divided into two separate phases—pre-construction and
construction.
True False - ...ANSWER...True
Under a cost plus fixed fee arrangement for CM
compensation, the reimbursable expenses usually include:
A) The costs of all job-site personnel, staff relocation costs,
travel and living expenses of jobsite staff.
B) The costs of all job-site material, equipment,
communications, vehicles, fees paid, reproduction, postage,
,computer, and any other reasonable field office-related
expenses.
C) The use of home office personnel who may be involved in
purchasing, expediting, scheduling, estimating, or other direct
project-related tasks.
D) All of the above - ...ANSWER...D) All of the above
The fee as a percentage of construction cost method of
compensating an agency CM has a tendency to discourage
effective time and cost control and is in conflict with the
objectives and benefits of an agency construction
management.
True False - ...ANSWER...True
In cases where a project is extended in duration for reasons
beyond the control of the CM, it is imperative that the CM
agreement address:
A) How changes in scope and additional services will be
handled.
B) Extended CM services.
C) The cost of additional services.
D) All of the above - ...ANSWER...D) All of the above
The cost reimbursement method of compensation is one of the
most commonly used forms of CM compensation associated
with agency CM.
True False - ...ANSWER...True
Under a GMP contract, with services provided by a CM-at-
Risk, which of the following statements is NOT true?
A) The GMP is usually established on less than 100%
complete drawings and specifications.
,B) It is important that the phrase Guaranteed Maximum Price
be clearly defined in the contract regarding what it includes
and excludes.
C) With a GMP type CM agreement, the CM is responsible
for all costs associated with the project.
D) Once a GMP for construction costs is established, the CM
takes on the risk for completing the project. - ...ANSWER...C)
With a GMP type CM agreement, the CM is responsible for
all costs associated with the project.
Which of the following methods of compensation for CM
services is inconsistent with the CM's agency relationship to
its owner?
A) Fixed fee
B) Percentage of construction costs
C) Multiple of direct personnel expenses
D) Professional fee plus expenses - ...ANSWER...C) Multiple
of direct personnel expenses
An agency CM with a fixed fee compensation arrangement
shares in the savings generated by a lower than planned
construction cost of the project. - ...ANSWER...False
It is NOT the purpose of the General Conditions to:
A) Clearly define the owner and contractor rights and
responsibilities.
B) Provide a procedure for executing changes in the work
scope in a fair and equitable manner.
C) Provide a detailed scope of work.
D) Clearly define the roles and responsibilities of the CM -
...ANSWER...C) Provide a detailed scope of work.
, The most common basis of CM liability to a trade contractor
with whom the CM has no contractual relationship is
negligent performance of the CM's:
A) Cost estimating
B) Inspection of work
C) Project coordination and scheduling
D) All of the above - ...ANSWER...C) Project coordination
and scheduling
Most publicly funded projects require which of the following
inclusions as part of their contract obligations?
A) BIM model
B) Performance bond
C) Mock-up model
D) LEED Gold - ...ANSWER...B) Performance bond
A Public-Private Partnership (P3) project is usually
considered by a public entity for which of the following
primary reasons:
A) Better design
B) Incorporate environmental requirements
C) Lack of funding
D) Meet sustainability goals - ...ANSWER...C) Lack of
funding
A CM's role and responsibilities are governed solely by the
Owner/CM Agreement.
True False - ...ANSWER...True
There are two basic forms of CM, agency and at-risk. Each
form provides for the basic services of construction
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