Estimating Final Exam Questions With Complete Solutions
____ are quoted for proposed changes in the specifications.
Correct Answers Alternative prices
____ are used when loads that are oversize are transported.
Correct Answers Scout trucks
____ 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. Correct Answers Unit-price
____ contracts are usually the owner's choice of last resort
because they can place the owner in a vulnerable financial
position. Correct Answers Cost-plus
____ estimating methods include the price per unit, price per
unit area, and price per unit volume. Correct Answers Single-
rate
____ estimation methods include price per typical bay,
assembly, and elemental estimates. Correct Answers Multi-rate
____ hardware for lumber mostly consists of nails, but other
fasteners and such items as joist hangers may also be required.
Correct Answers Rough
____ includes an amount for company overhead costs and an
amount for profit. Correct Answers Markup
,____ is an allowance for the cost of helpers assisting a surveyor,
an engineer, or the project superintendent with survey work
involved in setting out the lines and levels of the project. Correct
Answers layout
____ is defined as the amount of money remaining after all
project expenses and company expenses have been paid. Correct
Answers Profit
____ is lumber used for general building purposes. Correct
Answers Yard lumber
____ is the most common method of preliminary estimating.
Correct Answers Price per unit area
____ lumber is sawn lumber that has not been surfaced. Correct
Answers Rough
____ refer to the cost of removing water from excavations and
in some cases from the basements of projects under
construction. Correct Answers Dewatering expenses
____ require subtrades to submit their bids at a specified time
usually two days before the prime bids are due to be submitted.
Correct Answers Bid depositories
"Bank measure" amounts are obtained by using the dimensions
of the holes excavated or filled with no adjustment made to the
quantities obtained for swell or compaction of materials. Correct
Answers True
, 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.
Correct Answers conceptual
A ____ is a process of measuring the work of the project in the
form of a series of quantified work items. Correct Answers
quantity takeoff
A ____% allowance for waste is considered appropriate on
finish carpentry materials. Correct Answers 20
A 1000-board feet unit is written ____. Correct Answers MBF
A bid may sometimes be called a(n) "____" or a "proposal."
Correct Answers tender
A construction contract bid is compiled in three stages: the
advance stage, the review stage, and the ____ stage. Correct
Answers closing
A contractor needs to own some basic construction equipment in
order to carry on business. Correct Answers False
A large-size excavation company is generally equipped to
effectively perform all types of excavation work. Correct
Answers False
A materials takeoff generally provides sufficient information for
pricing. Correct Answers False
____ are quoted for proposed changes in the specifications.
Correct Answers Alternative prices
____ are used when loads that are oversize are transported.
Correct Answers Scout trucks
____ 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. Correct Answers Unit-price
____ contracts are usually the owner's choice of last resort
because they can place the owner in a vulnerable financial
position. Correct Answers Cost-plus
____ estimating methods include the price per unit, price per
unit area, and price per unit volume. Correct Answers Single-
rate
____ estimation methods include price per typical bay,
assembly, and elemental estimates. Correct Answers Multi-rate
____ hardware for lumber mostly consists of nails, but other
fasteners and such items as joist hangers may also be required.
Correct Answers Rough
____ includes an amount for company overhead costs and an
amount for profit. Correct Answers Markup
,____ is an allowance for the cost of helpers assisting a surveyor,
an engineer, or the project superintendent with survey work
involved in setting out the lines and levels of the project. Correct
Answers layout
____ is defined as the amount of money remaining after all
project expenses and company expenses have been paid. Correct
Answers Profit
____ is lumber used for general building purposes. Correct
Answers Yard lumber
____ is the most common method of preliminary estimating.
Correct Answers Price per unit area
____ lumber is sawn lumber that has not been surfaced. Correct
Answers Rough
____ refer to the cost of removing water from excavations and
in some cases from the basements of projects under
construction. Correct Answers Dewatering expenses
____ require subtrades to submit their bids at a specified time
usually two days before the prime bids are due to be submitted.
Correct Answers Bid depositories
"Bank measure" amounts are obtained by using the dimensions
of the holes excavated or filled with no adjustment made to the
quantities obtained for swell or compaction of materials. Correct
Answers True
, 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.
Correct Answers conceptual
A ____ is a process of measuring the work of the project in the
form of a series of quantified work items. Correct Answers
quantity takeoff
A ____% allowance for waste is considered appropriate on
finish carpentry materials. Correct Answers 20
A 1000-board feet unit is written ____. Correct Answers MBF
A bid may sometimes be called a(n) "____" or a "proposal."
Correct Answers tender
A construction contract bid is compiled in three stages: the
advance stage, the review stage, and the ____ stage. Correct
Answers closing
A contractor needs to own some basic construction equipment in
order to carry on business. Correct Answers False
A large-size excavation company is generally equipped to
effectively perform all types of excavation work. Correct
Answers False
A materials takeoff generally provides sufficient information for
pricing. Correct Answers False
