LARE Section 1 exam 2024/2025 with 100% correct answers
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Course
LARE Section 1 n
Institution
LARE Section 1 N
Bond correct answersDebt security under which the issuer owes the holders a debt and depending on the terms interest should be paid
Public work projects are finance by correct answersThe government agencies in municipalities, counties, states and federal government.
General contractor correct...
Bond correct answersDebt security under which the issuer owes the holders a debt and depending on
the terms interest should be paid
Public work projects are finance by correct answersThe government agencies in municipalities, counties,
states and federal government.
General contractor correct answersHas unique skills that should reduce the cost of construction to the
owner
General contractor correct answersHis/Her skills are: Administration of construction operations, efficient
procurement of materials, efective management of workforce, planning and coordination of the
construction process
Certificate of occupancy correct answersIt certifies that the building structure conforms to all relevant
code sections and is safe for use.
Owner must obtain it before the use of the building.
In some instances, a partial certificate is issued for portions of the building to be occupied.
Builder or Contractor correct answersAnyone who contracts to provide the labor and services necessary
to complete a project.
Hired by the owner or by another contractor.
Certificate correct answersWritten and signed document establishing that a fact is true.
Certificate of occupancy correct answersBuilding inspector certifies that the structure conforms all
relevant code is safe for use.
,Certificate of payment correct answersIs a document issued by the Landscape Architect in which the
Landscape Architect certifies that the contractor has adequately performed. The certificate is then
presented to the owner for payment to the contractor.
Substantial completion correct answersIssued by the landscape architect when the building is complete
to the degree that the owner can use the building.
Licensing process correct answersIt was established to protect the health and welfare of the public.
ASLA correct answersEstablished on 1899. Non-profit. Headquarters in Washington D.C
An organization that promotes high professional standards among landscape architects. Members are
required to continually update their education and knowledge.
assures both public and profession maintain highest possible level of educational preparation
Project closeout correct answersWritten notice of satisfactory completion of construction.
Partnership correct answersShare risks, profits and losses
Unlimited liability
No state taxes
Partnership pays no income tax (not separate legal entity), the income tax falls on the partners.
Each partner is liable
Profits must be shared
Addenda correct answersDocument added to the contract documents/construction documents
Correct errors or omissions
Clarify questions raised by the bidders
Issue new requirements including decisions to decrease/increase the scope of work
Cancel the project after it has been advertised but before is a bid
,Addenda correct answersThis document should not be used to complete the design phase, minor/small
value changes or oral instructions.
Addenda correct answersGet all the required information for one large "document". This is possible by
issuing this document as close as possible to the bid date.
Actual damages VS Liquidated damages correct answersDamages resulting from real and substantial loss
VS Estimated amount calculated as anticipated loss at future time
Acceleration cost correct answerscost incurred by a contractor when the project is interfered with by the
owner, in such a way, that the contractor must employ more manpower or work more hours in order to
complete the project on time. If the contractor contributes to the cause of its own delays, acceleration
cost may not be granted.
Addenda correct answersDocument added to the contract:
Replies to important questions
Delays the bid opening if changes are critical
Program changes
Bid correct answersIs an offer to perform a contract for work and labor or supplying materials at specific
price.
Offer by the contractor to the owner
Short list correct answers(noun) a list of applicants winnowed from a longer list who have been deemed
suitable and from which the successful person will be chosen
Bid depository correct answersa facility created by a group of contractors or a trade association to collect
written bids from subcontractors and material suppliers and convey them to the general contractors.
Contract correct answersBid becomes a ________ once the owner accepts the bidder's offer with all
contractual requirements
, 15% to 20% correct answersThe owner place contractual limits on the amount of work that can be
subcontracted. Percentage that must be performed by the general contractors own workers
Anticipatory breach correct answersWhen a party to a contract repudiates (reneges on) his/her
obligations under that contract before fully performing those obligations.
Attachment Lien correct answersA court process by which property may be seized and held as security
for a possible future judgement.
Real property is 'attached' by recording a copy of the writ of attachment in the public record thereby
creating a lien vs. the property .
Bid bond correct answerssurety provided by bidder to guaranty they will enter into a contract & will
supply the contract performance/payment bond if awarded the contract. Bond amount indicated on bid
manual.
Performance bond correct answersInsures the completion of the project by the contractor guaranteeing
that the contractor defaults the bonding company will finish the work. Between owner- contractor and
contractor-subcontractor.
Payment bond correct answersLabor and material source of payment for the subcontractors and
contractors.
Usually included with the performance bond, a guarantee by a surety that the contractor's suppliers and
subcontractors will be paid if the contractor does not pay them
Maintenance bond correct answersA contract bond guaranteeing that the work will be free from defects
in materials and workmanship for a specified period after the project is completed.
hold harmless correct answersAn indemnity clause that provides that both parties agree to defend
and/or compensate the other party for asserted claims against, or liability damages incurred by, the
other party due to the acts or omissions of the first party.
contractual liability correct answerswhen an insured agrees to assume the legal liability of another party
by a written or oral contract
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