estimating final exam Questions With 100% Verified Answers.
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Course
ESTIMASTICS
Institution
ESTIMASTICS
T or F When preparing an estimate, the importance of proper organization and structure cannot be overstated. - correct answer True
T or F Labor rates for a company's employees are not overly important when estimating a project - correct answer False
The ______________ views of a doc...
T or F When preparing an estimate, the importance of proper organization and structure cannot be
overstated. - correct answer True
T or F Labor rates for a company's employees are not overly important when estimating a project -
correct answer False
The ______________ views of a document set (the plans) are ideal for determining the composition of,
or what is in, a wall . - correct answer Section
T or F Workers' Compensation is an optional insurance that employers provide to employees for
workplace violence. - correct answer False
T or F Subcontractors and material suppliers do not need to understand the specifications, as that is the
role of the General Contractor - correct answer False
T or F A square-foot / budgetary estimate contains a lower level of detail than a detailed estimate. -
correct answer True
T or F Conceptual estimates commonly contain a high level of detail. - correct answer False
According to your text, Builder's Risk insurance protects the project under construction against
____________________. - correct answer Fire and lightning
What factor would influence labor cost / productivity in a project that is being estimated? - correct
answer weather / time of year
location (on a roof or in a tunnel)
time of day (noon vs midnight)
experience
, wages
T or F Technical specifications commonly provide means and methods for the contractor - correct
answer False
If you were to purchase an estimating software, you would likely still need to customize the cost
database in order make sure your _____________ is/are used. - correct answer base labor rates
labor production rates
overhead costs
winter condition consts
insurance premiums
equipment rates
T or F Per class discussion, determining the scope of our work guides us in what we do, and what we do
not do. - correct answer True
Of the following types of estimates, which would take the longest and should be the most accurate. -
correct answer Detailed
Division 09 of the CSI MasterFormat covers ________________ - correct answer finishes
T or F In a single contract arrangement, the owner maintains responsibility for primary subcontractors. -
correct answer False
T or F The lump sum agreement stipulates that the contract will have one payment due from the owner
that is made at the beginning of the project. - correct answer False
The contractor will make timely payments for labor and material according to the contract documents -
correct answer Payment bond
If awarded within the specified time period, the contractor will enter into a contractual agreement. -
correct answer Bid Bond
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