CMGT Exam 1 Questions and Answers
(Top Grade Assured) 2026 Update
What are two types of owners - Correct Answers ✅Public
and Private. One uses public money one uses private
What do Developer Owner's want - Correct Answers
✅maximize return on investment, quick turn around
What do operator owners want - Correct Answers
✅Manimize operating costs, at the expense of construciton
cost.
What is lump syum contract - Correct Answers ✅Most
common, total cost to total amont of work
Integrated Project Delivery - Correct Answers ✅Risk and
reward shared, creates transperancy between parties
What is unit price contract - Correct Answers ✅Based upon
quantities of items in the project and their unit price.
Cost plus a fixed fee - Correct Answers ✅Owners agrees to
pay the cost of the work, pus
Cost plus a percentage Fee - Correct Answers ✅Owners
agrees to pay cost of work plus percentage of total cost
, CMGT Exam 1 Questions and Answers
(Top Grade Assured) 2026 Update
Cost-plus with a guaranteed maximum price - Correct
Answers ✅A cost-plus contract that has a ceiling price on
the amount the owner will pay for the completed project.
What/who are the Project's Stakeholders - Correct Answers
✅People with contractual or legal obligations, and people
with no form contractual agreements but can have strong
interest and influences to whats going on with project.
Architect, General contractor, Subs, Employees, Suppliers,
Lenders, Sureties, Insurance Companies are types of what
kind of stake holders - Correct Answers ✅Primary
Competitors, special groups, General public, and media are
types of what kind of stake holders - Correct Answers
✅Seocndary
What does AIA stand for? - Correct Answers ✅American
Institute of Architects
What are the four main functions of project specs - Correct
Answers ✅Keep the project team organized, provide tupes
and quantities of materials, Give expected construction
methods, and resolve conflict
(Top Grade Assured) 2026 Update
What are two types of owners - Correct Answers ✅Public
and Private. One uses public money one uses private
What do Developer Owner's want - Correct Answers
✅maximize return on investment, quick turn around
What do operator owners want - Correct Answers
✅Manimize operating costs, at the expense of construciton
cost.
What is lump syum contract - Correct Answers ✅Most
common, total cost to total amont of work
Integrated Project Delivery - Correct Answers ✅Risk and
reward shared, creates transperancy between parties
What is unit price contract - Correct Answers ✅Based upon
quantities of items in the project and their unit price.
Cost plus a fixed fee - Correct Answers ✅Owners agrees to
pay the cost of the work, pus
Cost plus a percentage Fee - Correct Answers ✅Owners
agrees to pay cost of work plus percentage of total cost
, CMGT Exam 1 Questions and Answers
(Top Grade Assured) 2026 Update
Cost-plus with a guaranteed maximum price - Correct
Answers ✅A cost-plus contract that has a ceiling price on
the amount the owner will pay for the completed project.
What/who are the Project's Stakeholders - Correct Answers
✅People with contractual or legal obligations, and people
with no form contractual agreements but can have strong
interest and influences to whats going on with project.
Architect, General contractor, Subs, Employees, Suppliers,
Lenders, Sureties, Insurance Companies are types of what
kind of stake holders - Correct Answers ✅Primary
Competitors, special groups, General public, and media are
types of what kind of stake holders - Correct Answers
✅Seocndary
What does AIA stand for? - Correct Answers ✅American
Institute of Architects
What are the four main functions of project specs - Correct
Answers ✅Keep the project team organized, provide tupes
and quantities of materials, Give expected construction
methods, and resolve conflict
