1) In preparing an estimate, which of the following is not an element of the project general overhead:
a. Home office rent
b. Office supplies
c. Site offices
d. Office staff salaries
2) The estimator’s checklists and project breakdown will vary in its level of detail depending on:
a. The type and complexity of the project
b. The amount of time allowed to complete the project
c. The architect’s opinion
d. The owner’s financial capabilities
3) When preparing a cost estimate, the contractor will need all but one of the following:
a. Subcontractor’s bids
b. Unit costs
c. Working drawings and specifications
d. Change order
4) For each construction project, the estimator must consider all of the following factors before starting the estimating process except:
a. Project duration
b. Productivity of crew
c. Addition of overheads and profit
d. A building permit
5) In preparing an estimate, the sources of cost data include:
a. Historical data
b. Information provided by others
c. a & b
d. Neither a nor b
6) Communication problems can stem from the following locational difficulty:
a. Remoteness
b. Confined sites
c. Design considerations
d. Vandalism and site security
7) A project cost estimate includes the following items:
a. Direct cost
b. Indirect cost
c. Markups
d. All of the above
8) The concept of variability in cost estimating is initiated because:
a. A construction project has several stakeholders
b. The final costs of a construction project and its general requirements are dictated by many factors
c. Construction projects have different designs
d. If identical drawings and specifications is given to 100 different estimators, 100 different cost estimates will be created
9) “Fine tuning estimate" means:
a. Breaking down the project into measurable items
b. Adding the cost items of an estimate to find the total project cost estimate
c. Collecting the required data to calculate the cost of a project
d. Modification of the initial estimating selection by an estimator and then selecting the most likely value of an estimate
10) The cost alterations made by an estimator to account for profit and contingencies are:
a. Liquidated damages
b. Construction costs
c. Markups
d. Insurance