BARKLEY PMHNP STUDY EXAM GUIDE QUESTIONS AND
ANSWERS SURE A+
✔✔Bid Shopping - ✔✔The practice of revealing the sub-bid of one subcontractor to
obtain a lower price from another subcontractor.
✔✔Bid Peddling - ✔✔approaching the general contractor once you won the job and try
to get the price lower
✔✔bid rigging - ✔✔Contractors Coordinate their bids to fix the award outcome of a
project
✔✔Total Material Unit Cost - ✔✔Price Per unit x Number of units Needed
✔✔Required Contract Elements - ✔✔Acceptance, Consideration, competent parties,
and legal purpose
✔✔Contract Provisions - ✔✔Contract price and payment terms
obligation of the parties
breach of contract
✔✔breach of contract - ✔✔one party fails to fulfill contract
✔✔boiler plate provisions - ✔✔Contain standard Language designed to protect you in
the event of a lawsuit
✔✔Provisions to limit Risk - ✔✔Limit the liability of the contracting parties by addressing
allocation of risk
✔✔recitals - ✔✔Appears at the beginning of the contract and is intended to give
background information
✔✔Types of Contsruction Contracts - ✔✔adress who is responsible for cost savings
and overuns for estimated work
✔✔Sources of Contracts - ✔✔American institute of Architechs (AIA)
Associated General Contractors (AGC)
✔✔Change Order - ✔✔Written order to make a change in a contract
✔✔Contract Documents and project manual - ✔✔Central Location for bid documents,
Contract Provisions, Technical specifications and agenda
, ✔✔Scheduling Process - ✔✔the sequence of tasks
activity Duration
Contingency time
Task time ranges
Float time
✔✔Scheduling Methods - ✔✔- Calendar scheduling
- Bar Chart Scheduling
- Critical path method
✔✔Project Management - ✔✔- Budgets
- Quality Control
- Project Plans and specifications
- resource Management
✔✔Elements of a Business plan - ✔✔Cover Page, Executive summary, Company
summary, Products and services, Market analysis, Marketing Stragety, Financle plan
✔✔Renewal of License - ✔✔Must be renewed July 1st of each odd year at a cost of
$160
✔✔Bond - ✔✔Risk Transfer mechanism Between a surety, the contractor, and the
project owner.
✔✔Bond Language - ✔✔Total Dollar amount required for the bond, Length of the bond,
Requirments for notice of defect or lack of maintance, Bond enforcement
✔✔Performance Bond - ✔✔Guarantees that the contractor will complete a contract
within its time frame an conditions
✔✔Payment Bond - ✔✔Guarantees Subcontractos and suppliers that they will be paid
for work if they perform properly under the contract
✔✔Maintenance Bond - ✔✔Guarantees that for a stated period, typically for one year,
no defective workmanship or material will appear in the completed project.
✔✔Completion Bond - ✔✔Provides assurance to the financle backers of a construction
project that it will be completed on time
✔✔Fidelity Bond - ✔✔Covers business Owners for losses due to dishonest Acts by
there employees
✔✔Lien Bond - ✔✔Guarantees that liens cannot be placed against the owners property
by contrators for payments of service
ANSWERS SURE A+
✔✔Bid Shopping - ✔✔The practice of revealing the sub-bid of one subcontractor to
obtain a lower price from another subcontractor.
✔✔Bid Peddling - ✔✔approaching the general contractor once you won the job and try
to get the price lower
✔✔bid rigging - ✔✔Contractors Coordinate their bids to fix the award outcome of a
project
✔✔Total Material Unit Cost - ✔✔Price Per unit x Number of units Needed
✔✔Required Contract Elements - ✔✔Acceptance, Consideration, competent parties,
and legal purpose
✔✔Contract Provisions - ✔✔Contract price and payment terms
obligation of the parties
breach of contract
✔✔breach of contract - ✔✔one party fails to fulfill contract
✔✔boiler plate provisions - ✔✔Contain standard Language designed to protect you in
the event of a lawsuit
✔✔Provisions to limit Risk - ✔✔Limit the liability of the contracting parties by addressing
allocation of risk
✔✔recitals - ✔✔Appears at the beginning of the contract and is intended to give
background information
✔✔Types of Contsruction Contracts - ✔✔adress who is responsible for cost savings
and overuns for estimated work
✔✔Sources of Contracts - ✔✔American institute of Architechs (AIA)
Associated General Contractors (AGC)
✔✔Change Order - ✔✔Written order to make a change in a contract
✔✔Contract Documents and project manual - ✔✔Central Location for bid documents,
Contract Provisions, Technical specifications and agenda
, ✔✔Scheduling Process - ✔✔the sequence of tasks
activity Duration
Contingency time
Task time ranges
Float time
✔✔Scheduling Methods - ✔✔- Calendar scheduling
- Bar Chart Scheduling
- Critical path method
✔✔Project Management - ✔✔- Budgets
- Quality Control
- Project Plans and specifications
- resource Management
✔✔Elements of a Business plan - ✔✔Cover Page, Executive summary, Company
summary, Products and services, Market analysis, Marketing Stragety, Financle plan
✔✔Renewal of License - ✔✔Must be renewed July 1st of each odd year at a cost of
$160
✔✔Bond - ✔✔Risk Transfer mechanism Between a surety, the contractor, and the
project owner.
✔✔Bond Language - ✔✔Total Dollar amount required for the bond, Length of the bond,
Requirments for notice of defect or lack of maintance, Bond enforcement
✔✔Performance Bond - ✔✔Guarantees that the contractor will complete a contract
within its time frame an conditions
✔✔Payment Bond - ✔✔Guarantees Subcontractos and suppliers that they will be paid
for work if they perform properly under the contract
✔✔Maintenance Bond - ✔✔Guarantees that for a stated period, typically for one year,
no defective workmanship or material will appear in the completed project.
✔✔Completion Bond - ✔✔Provides assurance to the financle backers of a construction
project that it will be completed on time
✔✔Fidelity Bond - ✔✔Covers business Owners for losses due to dishonest Acts by
there employees
✔✔Lien Bond - ✔✔Guarantees that liens cannot be placed against the owners property
by contrators for payments of service
