Estimating Final Exam Questions with
Verified Answers
We put together estimates all the time in our everyday lives, often with little or no
calculating. - ANSWERSTrue
The different project delivery systems use the same types of estimates— conceptual,
preliminary and detailed—at various stages in the development of the project. -
ANSWERSFalse
With the design- build method, the owner indicates that he or she requires a certain
facility and usually outlines some parameters relating to location, size, design and the
desired time of occupancy. - ANSWERSTrue
Most general contractors and subtrades enter into cost-plus contracts in order to
perform a defined scope of work. - ANSWERSFalse
A(n) ____ in its essence is an assessment of the probable total cost of some future
activity. - ANSWERSestimate
A ____ estimate has to be prepared from a minimum amount of information because it
is required at a time when the project is often little more than a vague idea in the mind
of the owner. - ANSWERSconceptual
Once the design of a project is underway, budget amounts can be established for the
various elements of the project using procedures for a ____ estimate. -
ANSWERSpreliminary
Using a construction management organization seeks to facilitate overlap between
project stages, often referred to as ____, to allow earlier completion of the project. -
ANSWERSfast tracking
____ contracts are usually the owner's choice of last resort because they can place the
owner in a vulnerable financial position. - ANSWERSCost-plus
____ contracts are based on a pricing schedule that consists of a breakdown of the
work and estimated quantities for each of the items on the breakdown. -
ANSWERSUnit-price
The basis of a ____ is the accurate assessment of the work in the form of a quantity
takeoff that can only be obtained from the full design of the project - ANSWERSdetailed
estimate
, Construction groups in major cities have formed associations or plan service centers
where both public and private bodies may deposit plans and specifications of projects
calling for bids. - ANSWERSTrue
In a closed bid system the number of companies invited to bid is typically limited to no
more than ten contractors who are known to the owner or designers and who meet the
qualification criteria set by the owner. - ANSWERSFalse
An effective way to proceed with the planning of estimating operations is achieved by
means of a simple line chart form of time schedule. - ANSWERSFalse
On most projects general contractors request two complete sets of bid documents for
estimating a project. - ANSWERSTrue
If an estimator does not know exactly what the computer is accomplishing in the
preparation of an estimate, the estimator will not be in control of the process. -
ANSWERSTrue
The use of fax machines, cellular telephones, and e-mail has had little impact on the
bidding process as it is still mostly a manual process. - ANSWERSFalse
Agencies of the U.S. government use a standard form called the "____" to provide bid
information. - ANSWERSPre-Solicitation Notice
Private owners often directly invite contractors to bid on their construction projects in a
system known as a(n) ____ system. - ANSWERSClosed bid
A method of addressing the problem of bids from contractors of questionable financial
situation and experience capability is to call for bids only from ____ contractors. -
ANSWERSprequalified
Designers usually require a cash or certified check deposit from contractors who obtain
bid documents and the deposit is reimbursed when the drawings and specifications are
returned to the designer's office in "____." - ANSWERSGood order
A method of handling the problem of review questions is to compile a list of all the
questions that arise, the ____, then later make a single call to the designer to cover all
the items that have accumulated. - ANSWERSquery list
Significant details provided in response to questions about a bid will be incorporated
into written documents that are distributed to all bidders in publications that are known
as ____. - ANSWERSaddenda
Perhaps the most important item considered at the estimate review is ____. -
ANSWERSthe amount of fee to include in the bid price
Verified Answers
We put together estimates all the time in our everyday lives, often with little or no
calculating. - ANSWERSTrue
The different project delivery systems use the same types of estimates— conceptual,
preliminary and detailed—at various stages in the development of the project. -
ANSWERSFalse
With the design- build method, the owner indicates that he or she requires a certain
facility and usually outlines some parameters relating to location, size, design and the
desired time of occupancy. - ANSWERSTrue
Most general contractors and subtrades enter into cost-plus contracts in order to
perform a defined scope of work. - ANSWERSFalse
A(n) ____ in its essence is an assessment of the probable total cost of some future
activity. - ANSWERSestimate
A ____ estimate has to be prepared from a minimum amount of information because it
is required at a time when the project is often little more than a vague idea in the mind
of the owner. - ANSWERSconceptual
Once the design of a project is underway, budget amounts can be established for the
various elements of the project using procedures for a ____ estimate. -
ANSWERSpreliminary
Using a construction management organization seeks to facilitate overlap between
project stages, often referred to as ____, to allow earlier completion of the project. -
ANSWERSfast tracking
____ contracts are usually the owner's choice of last resort because they can place the
owner in a vulnerable financial position. - ANSWERSCost-plus
____ contracts are based on a pricing schedule that consists of a breakdown of the
work and estimated quantities for each of the items on the breakdown. -
ANSWERSUnit-price
The basis of a ____ is the accurate assessment of the work in the form of a quantity
takeoff that can only be obtained from the full design of the project - ANSWERSdetailed
estimate
, Construction groups in major cities have formed associations or plan service centers
where both public and private bodies may deposit plans and specifications of projects
calling for bids. - ANSWERSTrue
In a closed bid system the number of companies invited to bid is typically limited to no
more than ten contractors who are known to the owner or designers and who meet the
qualification criteria set by the owner. - ANSWERSFalse
An effective way to proceed with the planning of estimating operations is achieved by
means of a simple line chart form of time schedule. - ANSWERSFalse
On most projects general contractors request two complete sets of bid documents for
estimating a project. - ANSWERSTrue
If an estimator does not know exactly what the computer is accomplishing in the
preparation of an estimate, the estimator will not be in control of the process. -
ANSWERSTrue
The use of fax machines, cellular telephones, and e-mail has had little impact on the
bidding process as it is still mostly a manual process. - ANSWERSFalse
Agencies of the U.S. government use a standard form called the "____" to provide bid
information. - ANSWERSPre-Solicitation Notice
Private owners often directly invite contractors to bid on their construction projects in a
system known as a(n) ____ system. - ANSWERSClosed bid
A method of addressing the problem of bids from contractors of questionable financial
situation and experience capability is to call for bids only from ____ contractors. -
ANSWERSprequalified
Designers usually require a cash or certified check deposit from contractors who obtain
bid documents and the deposit is reimbursed when the drawings and specifications are
returned to the designer's office in "____." - ANSWERSGood order
A method of handling the problem of review questions is to compile a list of all the
questions that arise, the ____, then later make a single call to the designer to cover all
the items that have accumulated. - ANSWERSquery list
Significant details provided in response to questions about a bid will be incorporated
into written documents that are distributed to all bidders in publications that are known
as ____. - ANSWERSaddenda
Perhaps the most important item considered at the estimate review is ____. -
ANSWERSthe amount of fee to include in the bid price
