1|Page
CEM 100 Exam 1 ||Verified Exam!|| Most Recent Exam
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
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The ____ is not an enduring form of business ownership.
Rather the ___ is a temporary form of ownership whereby
two or more companies unite and pool their resources,
assets, and skills to perform a single construction project
and then go their separate ways again following
completion - Answer-Joint Venture
In a partnership, ____ exist when one party, called the
principal, authorizes another who is called the ___ to act
for the former in certain types of defined business or
commercial transactions - Answer-Agency, Agent
According to your textbook, in the settlement of the debts
of a partnership, ___ enjoy a position of first priority -
Answer-Outside creditors
Concerning establishing a partnership, state laws
regarding partnerships are not entirely consistent,
,2|Page
although most states have adopted the ___ more or less
verbatim - Answer-Uniform Partnership Act
A stock palm that is a form of deferred compensation to
those working fro the corporation consisting of those
working for the corporation investing in the stock of their
corporation, with these investments funded by tax-exempt
contributions. This stock plan termed a (an) ___ can be
designed to accomplish different purposes, including
promoting a company growth by providing a new source of
equity capital, providing benefits for long term workers,
allowing for the retirement of company owners,
accomplishing a change of company ownership, and
retiring stock presently owned by stockholders - Answer-
Employee Stock Ownership plan (ESOP)
Under what construction contracting method does the
managing entity work for a professional fee? - Answer-
Agency CM
Statutory entity that combines the limited personal liability
feature of a corporation and the partnership feature of
taxation at the owner level is termed a (an) - Answer-LLC
Concerning business ownership for construction
contracting firms in the US approximately ____ are
individual proprietorships - Answer-75%
,3|Page
Some of Americas largest construction projects including
the Hoover Dam in Southern Nevada, built by Six
companies, have been constructed by this business
ownership from where the assets and other resources of
two or more construction firms are combined for a specific
project - Answer-Joint Venture
A business ownership form that has the principal
advantages of limited liability of its owners, perpetual life
of the company, relative ease of raising capital, the easy
and workable provision of multiple ownership and the
economic benefit that owners pay taxes only on profits
(dividends) actually received is the ____ - Answer-
Corporation
In the partnership method of business ownership, a
partner that is liable for partnership debts only up to the
amount of their investments in the partnership would be
termed a ___ - Answer-Limited partner
What method looks at the lowest life-cycle costs for a
project? - Answer-value engineering
, 4|Page
Under what construction contracting method often results
in shaped savings between owner and contraction if the
project finishes below the target price? - Answer-GMP
The construction contracting method whereby there is
more than one prime contractor is referred to as the
_____- contracts system - Answer-separate
What construction contracting method is referred to as the
traditional method? - Answer-design-bid-build
Services on a construction project that include trash
disposal, temporary electrical power, temporary heat,
guardrails, construction worker parking, and job security
would fall under the ____ category - Answer-general
conditions
This contracting method _____ is also referred to as the
turnkey process or as the turnkey project delivery method
- Answer-design-build
Concerning contract documents, revisions to the design
plans and specifications termed, ______ are issued by the
CEM 100 Exam 1 ||Verified Exam!|| Most Recent Exam
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
Guaranteed Success ||Newest Exam!!!
The ____ is not an enduring form of business ownership.
Rather the ___ is a temporary form of ownership whereby
two or more companies unite and pool their resources,
assets, and skills to perform a single construction project
and then go their separate ways again following
completion - Answer-Joint Venture
In a partnership, ____ exist when one party, called the
principal, authorizes another who is called the ___ to act
for the former in certain types of defined business or
commercial transactions - Answer-Agency, Agent
According to your textbook, in the settlement of the debts
of a partnership, ___ enjoy a position of first priority -
Answer-Outside creditors
Concerning establishing a partnership, state laws
regarding partnerships are not entirely consistent,
,2|Page
although most states have adopted the ___ more or less
verbatim - Answer-Uniform Partnership Act
A stock palm that is a form of deferred compensation to
those working fro the corporation consisting of those
working for the corporation investing in the stock of their
corporation, with these investments funded by tax-exempt
contributions. This stock plan termed a (an) ___ can be
designed to accomplish different purposes, including
promoting a company growth by providing a new source of
equity capital, providing benefits for long term workers,
allowing for the retirement of company owners,
accomplishing a change of company ownership, and
retiring stock presently owned by stockholders - Answer-
Employee Stock Ownership plan (ESOP)
Under what construction contracting method does the
managing entity work for a professional fee? - Answer-
Agency CM
Statutory entity that combines the limited personal liability
feature of a corporation and the partnership feature of
taxation at the owner level is termed a (an) - Answer-LLC
Concerning business ownership for construction
contracting firms in the US approximately ____ are
individual proprietorships - Answer-75%
,3|Page
Some of Americas largest construction projects including
the Hoover Dam in Southern Nevada, built by Six
companies, have been constructed by this business
ownership from where the assets and other resources of
two or more construction firms are combined for a specific
project - Answer-Joint Venture
A business ownership form that has the principal
advantages of limited liability of its owners, perpetual life
of the company, relative ease of raising capital, the easy
and workable provision of multiple ownership and the
economic benefit that owners pay taxes only on profits
(dividends) actually received is the ____ - Answer-
Corporation
In the partnership method of business ownership, a
partner that is liable for partnership debts only up to the
amount of their investments in the partnership would be
termed a ___ - Answer-Limited partner
What method looks at the lowest life-cycle costs for a
project? - Answer-value engineering
, 4|Page
Under what construction contracting method often results
in shaped savings between owner and contraction if the
project finishes below the target price? - Answer-GMP
The construction contracting method whereby there is
more than one prime contractor is referred to as the
_____- contracts system - Answer-separate
What construction contracting method is referred to as the
traditional method? - Answer-design-bid-build
Services on a construction project that include trash
disposal, temporary electrical power, temporary heat,
guardrails, construction worker parking, and job security
would fall under the ____ category - Answer-general
conditions
This contracting method _____ is also referred to as the
turnkey process or as the turnkey project delivery method
- Answer-design-build
Concerning contract documents, revisions to the design
plans and specifications termed, ______ are issued by the
