Mississippi NASCLA & Residential
Questions and Correct Answers
A ______ bond will ensure the contractor that wins the project will draw up and put into action
the contract at the bid price and submit performance and payment bonds. - <CORRECT
ANSWER >>Bid
A ______ bond promises that the contract will stay within the bounds of the contract until
completion. - <CORRECT ANSWER >>Performance
A bond that ensures the subcontractors and suppliers for a specific project will get paid and will
liens from being enforced on said project. - <CORRECT ANSWER >>Labor and Material Payment
________ ________ Insurance will safeguard the contractor just in case there is devastation or
loss to a project before completion. - <CORRECT ANSWER >>Builders Risk
_______ _______ will keep the claim amount from being more than the dollar amount covered
by regular general liability or vehicle insurance. - <CORRECT ANSWER >>Umbrella Liability
Name one of the people responsible for creating an estimate for a job. - <CORRECT ANSWER
>>Project Manager
Superintendent
The part of a project, when creating an estimate, that is the toughest to plan for is the _______
_______. - <CORRECT ANSWER >>Labor Productivity
The percentage of lumber used for framing that is typically wasted is _________. - <CORRECT
ANSWER >>10%
,Name one of the fundamental types of scheduling. - <CORRECT ANSWER >>Bar Chart, Network
Diagram, Critical Path Schedule
A _________ will show all of the activities that have to be completed in order for a project to be
completed. - <CORRECT ANSWER >>Work Breakdown Structure (WBS)
When working on a project there are certain things that must be done but are not on a
deadline to complete, meaning it has a flexible schedule. What term would describe that
flexibility? - <CORRECT ANSWER >>Float Time
A __________ _________ contract will allow the Owner a choice to reimburse the contractor
when supplies are utilized within the scope of the project instead of when they are on the
property. - <CORRECT ANSWER >>Fixed Price
Just In Time delivery has a couple of benefits. Name one of them. - <CORRECT ANSWER
>>Reduces risk of loss,
Prevents job site congestion
Submittals that are to be provided in the last design phase include: - <CORRECT ANSWER
>>Charts
Drawings
Samples
A Free On Board (FOB) Job Site increases the contractor's liability of supplies being lost or
damaged. - <CORRECT ANSWER >>False
A _______ ________ will keep track of the submittal process to anyone associated with the
project, such as subcontractors or orders for materials. - <CORRECT ANSWER >>Expediting Log
, A _______ ______ will keep track of a submittal and number each of them. - <CORRECT
ANSWER >>Submittal Register
A ______ ______ payment is figured in such a way that could sometimes cause an overage of
the amount actually due on the contract terms. - <CORRECT ANSWER >>Lump Sum
A _______ , agreed upon in the contract, will be withheld from the amount billed to ensure the
project will be completed before it is released. - <CORRECT ANSWER >>Retention
A _______ lien release will release all rights to place liens on a project and any money that was
due has been secured. - <CORRECT ANSWER >>Unconditional
A _________ lien release is usually given when a payment request is made and hinges upon
payment being received for goods furnished. - <CORRECT ANSWER >>Conditional
A Change Order must be signed by three different people once the project has been awarded,
which will change certain parts in the scope of the job. Name one of the people that has to sign
that order. - <CORRECT ANSWER >>Owner
Contractor
Architect
If you can not settle a dispute between two people, usually ________ occurs which will take up
a lot of time and is a costly way of resolution. - <CORRECT ANSWER >>Litigation
A dispute that is heard by someone not associated with either of the parties involved to assist
with coming to an agreement is an example of _________. - <CORRECT ANSWER >>Mediation
Questions and Correct Answers
A ______ bond will ensure the contractor that wins the project will draw up and put into action
the contract at the bid price and submit performance and payment bonds. - <CORRECT
ANSWER >>Bid
A ______ bond promises that the contract will stay within the bounds of the contract until
completion. - <CORRECT ANSWER >>Performance
A bond that ensures the subcontractors and suppliers for a specific project will get paid and will
liens from being enforced on said project. - <CORRECT ANSWER >>Labor and Material Payment
________ ________ Insurance will safeguard the contractor just in case there is devastation or
loss to a project before completion. - <CORRECT ANSWER >>Builders Risk
_______ _______ will keep the claim amount from being more than the dollar amount covered
by regular general liability or vehicle insurance. - <CORRECT ANSWER >>Umbrella Liability
Name one of the people responsible for creating an estimate for a job. - <CORRECT ANSWER
>>Project Manager
Superintendent
The part of a project, when creating an estimate, that is the toughest to plan for is the _______
_______. - <CORRECT ANSWER >>Labor Productivity
The percentage of lumber used for framing that is typically wasted is _________. - <CORRECT
ANSWER >>10%
,Name one of the fundamental types of scheduling. - <CORRECT ANSWER >>Bar Chart, Network
Diagram, Critical Path Schedule
A _________ will show all of the activities that have to be completed in order for a project to be
completed. - <CORRECT ANSWER >>Work Breakdown Structure (WBS)
When working on a project there are certain things that must be done but are not on a
deadline to complete, meaning it has a flexible schedule. What term would describe that
flexibility? - <CORRECT ANSWER >>Float Time
A __________ _________ contract will allow the Owner a choice to reimburse the contractor
when supplies are utilized within the scope of the project instead of when they are on the
property. - <CORRECT ANSWER >>Fixed Price
Just In Time delivery has a couple of benefits. Name one of them. - <CORRECT ANSWER
>>Reduces risk of loss,
Prevents job site congestion
Submittals that are to be provided in the last design phase include: - <CORRECT ANSWER
>>Charts
Drawings
Samples
A Free On Board (FOB) Job Site increases the contractor's liability of supplies being lost or
damaged. - <CORRECT ANSWER >>False
A _______ ________ will keep track of the submittal process to anyone associated with the
project, such as subcontractors or orders for materials. - <CORRECT ANSWER >>Expediting Log
, A _______ ______ will keep track of a submittal and number each of them. - <CORRECT
ANSWER >>Submittal Register
A ______ ______ payment is figured in such a way that could sometimes cause an overage of
the amount actually due on the contract terms. - <CORRECT ANSWER >>Lump Sum
A _______ , agreed upon in the contract, will be withheld from the amount billed to ensure the
project will be completed before it is released. - <CORRECT ANSWER >>Retention
A _______ lien release will release all rights to place liens on a project and any money that was
due has been secured. - <CORRECT ANSWER >>Unconditional
A _________ lien release is usually given when a payment request is made and hinges upon
payment being received for goods furnished. - <CORRECT ANSWER >>Conditional
A Change Order must be signed by three different people once the project has been awarded,
which will change certain parts in the scope of the job. Name one of the people that has to sign
that order. - <CORRECT ANSWER >>Owner
Contractor
Architect
If you can not settle a dispute between two people, usually ________ occurs which will take up
a lot of time and is a costly way of resolution. - <CORRECT ANSWER >>Litigation
A dispute that is heard by someone not associated with either of the parties involved to assist
with coming to an agreement is an example of _________. - <CORRECT ANSWER >>Mediation
