CMGT 3500 Test 3 Exam Questions and
Answers (Latest 2026)
Unlike other businesses, the construction industry is paid on
periodic payments for progress of completion of a project. -
Correct Answers ✅True
An express warranty is one that clearly stated either verbally
in writing. - Correct Answers ✅True
The duration of a project is measured against substantial
completion to determine: - Correct Answers ✅When the
last periodic payment can be made
Retainage is: - Correct Answers ✅Used as incentive for the
contractor to complete the project
Project Closeout - Correct Answers ✅- Preparations should
begin at the start of construction
- Should include Contractor self-inspections
- May create a loss on a project to the contractor if it is drawn
out
-Provides the creation of a punchlist
A warranty is - Correct Answers ✅A certification that an
aspect of a contract is promised to be, and based on a
specified time period of validity
, CMGT 3500 Test 3 Exam Questions and
Answers (Latest 2026)
When a project is accepted, the Owner should carefully
inspect the project for any defects, and resolution of defects
should take place after final payment is made. - Correct
Answers ✅False
Patent defects are defects not readily observed - Correct
Answers ✅False
The general contractor is responsible for: - Correct Answers
✅-Performance of subcontractors
-All materials and equipment furnished
-Contractor assisted selection of materials with the owner
An implied warranty means that the contractor guarantees
that the completed project will be suitable for its intended
purpose. - Correct Answers ✅False
The courts have ruled that Owner's inspection and
acceptance of work waive any claims that result from the
Contractor's defective performance, except latent defects. -
Correct Answers ✅True
Subcontractors: - Correct Answers ✅Are independent
contractors hired by General Contractors
Answers (Latest 2026)
Unlike other businesses, the construction industry is paid on
periodic payments for progress of completion of a project. -
Correct Answers ✅True
An express warranty is one that clearly stated either verbally
in writing. - Correct Answers ✅True
The duration of a project is measured against substantial
completion to determine: - Correct Answers ✅When the
last periodic payment can be made
Retainage is: - Correct Answers ✅Used as incentive for the
contractor to complete the project
Project Closeout - Correct Answers ✅- Preparations should
begin at the start of construction
- Should include Contractor self-inspections
- May create a loss on a project to the contractor if it is drawn
out
-Provides the creation of a punchlist
A warranty is - Correct Answers ✅A certification that an
aspect of a contract is promised to be, and based on a
specified time period of validity
, CMGT 3500 Test 3 Exam Questions and
Answers (Latest 2026)
When a project is accepted, the Owner should carefully
inspect the project for any defects, and resolution of defects
should take place after final payment is made. - Correct
Answers ✅False
Patent defects are defects not readily observed - Correct
Answers ✅False
The general contractor is responsible for: - Correct Answers
✅-Performance of subcontractors
-All materials and equipment furnished
-Contractor assisted selection of materials with the owner
An implied warranty means that the contractor guarantees
that the completed project will be suitable for its intended
purpose. - Correct Answers ✅False
The courts have ruled that Owner's inspection and
acceptance of work waive any claims that result from the
Contractor's defective performance, except latent defects. -
Correct Answers ✅True
Subcontractors: - Correct Answers ✅Are independent
contractors hired by General Contractors
