100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
NICET 3 Fire Alarm Study Guide Test. $13.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Nicet
  4.  
  5. Nicet

Exam (elaborations)

NICET 3 Fire Alarm Study Guide Test.
 0 purchase
  • Course
  • Nicet
  • Institution
  • Nicet

NICET 3 Fire Alarm Study Guide Test. The beginning of every design project starts with the customer specification included in the - CORRECT ANSWER Request For Proposal or RFP. Reading and interpreting the ____________ is a major factor in a good bid proposal and system design. - CORRECT ANS...

[Show more]

Preview 4 out of 33  pages

Document information

  • August 4, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • nicet
  • nicet 3 fire alarm study guide test

Written for

  • Nicet
  • Nicet

Seller

avatar-seller
Nursewendo

Reviews received

Content preview

NICET 3 Fire Alarm Study Guide Test.

The beginning of every design project starts with the customer specification included in the - CORRECT
ANSWER Request For Proposal or RFP.



Reading and interpreting the ____________ is a major factor in a good bid proposal and system design. -
CORRECT ANSWER Specification



If you take the safer approach, and add safety factors into your bid to account for things you may have
missed in the specification, you probably will ______________ - CORRECT ANSWER not be the low or
successful bidder.



Accounts Payables - CORRECT ANSWER debts that the company owes and expects to pay within one
year that are not evidenced by a written promise to pay.



Accounts Receivable - CORRECT ANSWER invoices owed to the company that will likely be paid within
one year and have not been formalized by a written promise to pay, such as a note receivable.



Assets - CORRECT ANSWER resources held by the company that will probably lead to some future cash
inflows. For example, a piece of property is an asset because it could be sold to produce a cash inflow.



Balance Sheet - CORRECT ANSWER The balance sheet is a snapshot of a company's financial assets,
liabilities, and the value of the company to its owner at a specific point in time (often referred to as net
worth, or equity).



Balance Sheets are prepared how often? - CORRECT ANSWER At the end of each month and at the end
of the year



Cash - CORRECT ANSWER demand deposits (such as savings and checking accounts), time deposits (such
as certificates of deposits) with a maturity of one year or less, and petty cash.

,Committed Costs - CORRECT ANSWER those costs that the company has committed to pay and can be
identified before a bill is received for the costs.



Cost Control - CORRECT ANSWER occurs when the accounting system provides management with the
accounting data in time for management to analyze the data and make corrections in a timely manner..



Cost Reporting - CORRECT ANSWER occurs when the accounting system provides management with the
accounting data after the opportunity has passed for management to respond and correct the problems
indicated by the data.



Direct Costs - CORRECT ANSWER the labor and material to complete a project.



Fixed Assets - CORRECT ANSWER land, buildings, construction equipment, trucks and autos, and office
equipment.



Fixed Costs - CORRECT ANSWER costs that tend to be fixed over a specific range of revenues. For
example, if a company currently has two salaried employees working as estimators, the cost of these
employees is fixed over the volume of work that can be won by these employees. Rent is normally a
fixed cost if the size of the office does not vary based on workload.



General Overhead - CORRECT ANSWER costs that cannot be specifically identified to the completion of a
construction project. includes all main office and supervisory costs that cannot be billed to a specific
construction project.



Another term for General Overhead - CORRECT ANSWER indirect costs



Gross Profit Margin - CORRECT ANSWER the gross profit divided by the total revenue times 100%.



Inventory - CORRECT ANSWER materials that are available for sale, or are available and expected to be
incorporated into a construction project within the next year.

,Liabilities - CORRECT ANSWER obligations for a company to transfer assets or render services at some
future time for which the company is already committed. Loans and warranty reserves are common
examples



Mixed Costs - CORRECT ANSWER costs that contain both a variable cost component and a fixed cost
component. For example, if a company paid its estimators a base salary plus a bonus based on the
volume of work won



Net Profit - CORRECT ANSWER calculated as Gross Profit minus Taxes.



If you think of it in terms of your paycheck, you have your profit, and the amount you are left with after
taxes



Net Profit Margin - CORRECT ANSWER deducts taxes from the gross profit to obtain the margin.



The net profit margin used on each estimate may vary based on: - CORRECT ANSWER The risk involved
in the project.

The owner's desired profit.

The current workload of the company.

The customer - a difficult customer may pay a penalty.



Overhead Costs - CORRECT ANSWER may be divided into three types of costs: variable costs, fixed costs,
and mixed costs.



Profit Equation - CORRECT ANSWER ——————— = Revenue - Construction Cost - Overhead



Variable Costs - CORRECT ANSWER costs that tend to vary with the volume of work, which is most
commonly expressed as a percentage of the revenues from construction projects.



Example:

If you laid off employees when there was no work.

Or:

, Sales commissions that vary with the amount of sales .



Important Chapters IBC - CORRECT ANSWER 2, 3, 4, 7, 9



Chapter 2 IBC - CORRECT ANSWER Definitions



Chapter 3 IBC - CORRECT ANSWER Use and Occupancy

Classification



Chapter 4 IBC - CORRECT ANSWER Special Detailed

Requirements Based on

Use and Occupancy



Chapter 7 IBC - CORRECT ANSWER Fire and Smoke

Protection Features



Chapter 9 IBC - CORRECT ANSWER Fire Protection Systems



You find one of your employees drinking at a local bar with the company truck during working hours.
You send them home in a taxi.

What should you do next? - CORRECT ANSWER D. Terminate the

employee for misuse

of the company truck

The correct answer is: Terminate the employee for misuse of the company truck. Companies have
policies about the use of company vehicles. It will be easier to terminate the employee for misuse of the
company truck.



You are inspecting an installation and you notice that a large part of the

NAC wiring is #16 AWG and the customer specified #14 AWG. The voltage drop calculations show that
#16 is sufficient for the job, but #14 was on the customer specifications.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Nursewendo. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$13.49
  • (0)
Add to cart
Added