CM 4221 Final
one major advantage of multi-prime contracting is the ease in phasing a project. Select one: True False
True
During the early stages of the engineering and design phase of a project, the Owner typically procures the lead design firm using qualifications-based selection. Select one: True False
true
Which of the following is not part of an exit route? Select one: a. Exit discharge b. Exit c. Exit alarm d. Exit access
C. Exit ALARM
CPA's and sureties state that underbilling is never a good thing for a construction company. Select one: True False
True
Typically, any VE savings realized are split evenly between the general contractor and the owner. Select one: True False
Correct
How many CSI divisions does the post-2004 masterformat have? Select one: a. 100 Divisions b. 32 Divisions c. 16 divisions d. 50 Divisions
D
One major barrier to the use of VE on construction projects is that VE is not required on public or private projects. Select one: True False
F
A feasibility study is used early in the construction phase of a project to help determine the means and methods of construction Select one: True False
False
A project is always considered to be 50% complete once it has reached the "dried-in" stage. Select one: True False
False
An efficiency factor of 0.92 means that productivity has increased by 92% Select one: True False
False
Based on laws and regulations, privately financed projects must utilize competitive bidding to procure a construction firm. Select one: True False
False
Checklists provide risks from lessons learned on previous projects and should be reviewed first before using a formal risk identification tool Select one: True False
False
Current liabilities can be converted into cash within one year to pay off debt Select one: True False
False
Increasing the size of a sample increases the reliability of the testing and also decreases the cost of testing Select one: True False
False
Locking an exit door with a chain and padlock is acceptable as long as someone has a key to open the exit door? Select one: True False
False
Only certain types of businesses are required to have an Emergency Action Plan? Select one: True False
False
Overbilling occurs when a contractor bills an Owner for unapproved change orders Select one: True False
False
Site investigation visits are used for an Owner to determine which contractor will be awarded the project Select one: True False
False
The Actual Cost of Work Performed is the Earned Value for a project Select one: True False
False
The straight line method of depreciation is a series of depreciation methods that calculates more depreciation in the early years of an asset and less depreciation in later years Select one: True False
False
For a company's annual balance sheet, the total amount of assets must always equal the total amount of liabilities plus the total amount of equity Select one: True False
True
Labor productivity is a critical risk to be accounted for as it can affect the overall profitability of the project Select one: True False
Tfue
If the cost performance index for an earned value analysis is greater than one, then the project is under budget at that point in time. Select one: True False
True
In earned value, if the planned percent complete value is less than the percent complete value, then the project is ahead of schedule Select one: True False
True
In the Charlotte Pipe Company video, the plumbing contractor and owner accepted a value engineering alternative to change the underground cast iron pipe to PVC to reduce cost, which ultimately reduced the function and quality of the underground plumbing system. Select one: True False
True
A benefit of Just-in-Time inventory is low month-to-month holding costs Select one: True False
True
A cash flow schematic diagram is used to forecast the maximum amount of working capital a contractor will need to have to finance the construction work Select one: True False
True
A project that shows good quality will be completed per the design and specifications as well as being completed on time and on budget. Select one: True False
True
A tool used by project managers to help control schedule performance is CPM Select one: True False
True
OSHA requires employers to provide proper exits, fire fighting equipment, and employee training to prevent fire deaths and injuries in the workplace? Select one: True False
True
The G702 payment application and G703 continuation sheet are common documents used in construction for requesting payment from an Owner for completed work by a contractor Select one: True False
True
The quick ratio is calculated by adding all cash and receivables and dividing that value by the total current liabilities for a company. Select one: True False
True
Uncertainty is the set of positive and negative outcomes that could occur within a known risk Select one: True False
True
Value is calculated by dividing the total of function and quality by the cost Select one: True Fals
True
Vertical building projects are first designed by an architect and then engineered by design engineers while horizontal infrastructure projects are typically designed and engineered by design engineers True False
True
If a project has a BCWS of $45,500,000 and a BCWP of $47,500,000 at the end of the 14th month of the project, what is the status of this project? Select one: a. The project is 4% ahead of schedule b. The project is 4% underbudget c. The project is 4% behind schedule d. The project is on schedule and on budget e. The project is 4% overbudge
a. The project is 4% ahead of schedule
Which of the following materials management issues relates to manufacturers being affected by government policy that slows down production of a specific material? Select one: a. Inventory control b. Security of materials c. Market availability d. Organizational e. Procurement
c. Market availability
What is an EIS? Select one: a. A document prepared to describe the effects for proposed construction activities on the surrounding natural and physical environment b. A process used to determine the feasibility of constructing a project c. The format used to organize construction trades into specific categories d. None of these e. A document used by a contractor to inquire about additional information from the owner and/or design team
a. A document prepared to describe the effects for proposed construction activities on the surrounding natural and physical environment
A Fire Prevention Plan should include all of the following except? Select one: a. A listing of every employees name, phone number and job title in the organization b. Names or job titles for those responsible for maintenance of equipment and systems c. A list of the major fire hazards and handling, storage and control procedures d. Names or job titles for of persons responsible for control of fuel source hazards
a. A listing of every employees name, phone number and job title in the organization
Which value analysis approach listed keeps the function and quality the same while lowering the cost? Select one: a. Cost reduction approach b. Compound approach c. Expand growth approach d. None of these e. Function increase approach
a. Cost reduction approach
Which of the following delivery methods is the most used method in construction today? Select one: a. Design-Bid-Build b. Design-Build c. Construction Manager at-Risk d. Multi-prime Contracting e. None of these
a. Design-Bid-Build
If a $1,000,000 project is 75% complete and a WIP report shows that the project is underbilled by $15,000.00, what does this mean? Select one: a. Work has been performed on this project for unapproved change orders b. The project is front-end loading costs for long lead items c. Rounding error d. None of these e. The project will cost less than budgeted
a. Work has been performed on this project for unapproved change orders
This testing process helps to reduce the risk that major project systems (HVAC, electrical, etc) will work according to the project objectives, plans, and specifications. Select one: a. Commissioning b. As-builts c. None of these d. Notice to Proceed e. Constructability review
a. commisioning
A construction firm has just purchased a 3D printer for performing small scale construction work on commercial projects. The initial cost of the new asset is $150,000. The firm expects to use the 3D printer for 12 years and expects to salvage the printer for $3,000 at that time. What is the annual depreciation of the 3D printer? Select one: a. $0 b. $12,250 c. $12,500 d. $14,700 e. $1,225
b. $12,250
In a WIP report, how do you calculate Revenue Earned? Select one: a. Given value, no need to calculate Revenue Earned b. (Revised Contract Amount) times (Percent Complete) c. (Cost to Date) divided by (Revised Estimated Costs) d. (Revised Contract Amount) minus (Revised Estimated Costs) e. (Billed to Date) minus (Revenue Earned)
b. (Revised Contract Amount) times (Percent Complete)
A crew of four electricians that has been studied can be represented by the following productivity trend line: y = -3.25x2 + 1.5x +0.56 What is the maximum productivity of this crew (in hours of overtime)? Select one: a. 3.25 hrs b. 9.5 hrs c. 15 hours d. 23 hrs e. 0.56 hrs
b. 9.5 hrs
This cost component associated with material inventory includes costs such as storage space overhead and re-handling Select one: a. Shortage cost b. Holding cost c. Shipping cost d. Purchase cost e. Just-in-Time
b. Holding cost
Which of the following is one of the major responsibilities of quality assurance? Select one: a. None of these b. Identifies weaknesses in processes and procedures and improves them c. Implements the process d. Identifies defects for the primary purpose of correcting defects e. Verifies if specific attributes are in a specific product or service
b. Identifies weaknesses in processes and procedures and improves them
Which of the following is not a method used to procure a constructor? Select one: a. Qualifications-based selection b. Job order contracting c. Best value d. Low bid
b. Job order contracting
Which of the following choices is not a tool used to help manage risk on a construction project? Select one: a. Insurance b. None of these c. Bonding d. Subcontracting e. Contingency
b. None of these
The properties that define the nature of a product such as dimensions, color, strength, temperature, and appearance is what element of quality? Select one: a. Quality of Design b. Quality Characteristics c. None of these d. Quality Engineering e. Quality of Conformance
b. Quality Characteristics
What is meant by "front-loaded costs" on a project? Select one: a. The contractor allocates less profit and fees to those work items that are completed early in the project, which decreases the amount of billing at the beginning of the project b. The contractor allocates more profit and fees to those work items that are completed early in the project, which increases the amount of billing at the beginning of the project c. The contractor is "lending" money to the Owner d. The contractor allocates more profit and fees to those work items that are completed early in the project, which then increase the total revenue for the project e. None of these
b. The contractor allocates more profit and fees to those work items that are completed early in the project, which increases the amount of billing at the beginning of the project
What is meant by "front-loaded costs" on a project? Select one: a. The contractor is "lending" money to the Owner b. The contractor allocates more profit and fees to those work items that are completed early in the project, which increases the amount of billing at the beginning of the project c. The contractor allocates less profit and fees to those work items that are completed early in the project, which decreases the amount of billing at the beginning of the project d. None of these e. The contractor allocates more profit and fees to those work items that are completed early in the project, which then increase the total revenue for the project
b. The contractor allocates more profit and fees to those work items that are completed early in the project, which increases the amount of billing at the beginning of the project
A firm's working capital will increase when: Select one: a. The firm purchases equipment b. The firm sells equipment c. The firm pays off long term debt d. None of these e. The firm loses money on a job
b. The firm sells equipment
A hospital project in San Diego, CA will be installing an intricate glass curtain wall as the signature aesthetics for a building. There is a 30% chance that the curtain wall construction (which are all critical path activities) will experience difficulties in assembling the curtain wall. This may result in additional labor and time to complete the work. If it is possible that the additional work will cost $70,000 more and will take an additional 10 working days, what contingency could be added to the budget and schedule to account for this uncertainty? Select one: a. None of these b. $70,000 / 10 days c. $21,000 / 3 days d. No contingency needed for budget / 3 days e. $21,000 / No contingency needed for schedule
c. $21,000 / 3 days
During design, which phase represents the best time to realize cost saving opportunities for value engineering? Select one: a. Final design b. Construction c. Conceptual design d. Project close-out e. Preliminary design
c. Conceptual design
Which of the following is not a method used to procure a constructor? Select one: a. None of these b. Best value c. Job order contracting d. Low bid e. Qualifications-based selection
c. Job order contracting
Which of the following is not true about a side-hinged exit door? Select one: a. Must be used to connect any room to an exit route b. Must swing out in the direction of exit travel if the room is designed to occupy more than 50 people or contains high hazard contents c. Must swing in so that it does not get in the way of the direction of exit travel if the room is designed to occupy more than 50 people or contains high hazard contents
c. Must swing in so that it does not get in the way of the direction of exit travel if the room is designed to occupy more than 50 people or contains high hazard contents
The only revenue recognition method acceptable for financial statement use for construction companies is: Select one: a. Straight accrual b. Complete contract c. Percentage of completion d. Cash e. None of these
c. Percentage of completion
What is one benefit of the Arcelor top-down parking garage construction system? Select one: a. Pre-fabricated concrete decking is used for each floor of the garage b. None of these c. Removes the parking garage activities from the critical path d. Excavation of the below-ground garage floors is easier and faster to accomplish e. Permanent casings are used to place cast-in-place columns
c. Removes the parking garage activities from the critical path
What is the definition of a project delivery system? Select one: a. The process by which the feasibility of a project is determined b. None of these c. The contractual relationships that exist between project team members d. The method of procuring a constructor to build a project e. The techniques and processes used for constructing a project
c. The contractual relationships that exist between project team members
Which management activity listed below is where the project manager is tasked with coordinating subcontractors, planning sequences of construction, and developing effective communication? Select one: a. None of these b. Controlling c. Organizing d. Scoping e. Planning
c. organizing
Which of the following items is considered a cash inflow for a construction company? Select one: a. Operating expenses b. Taxes c. Buy equipment d. Borrow money e. None of these
d. Borrow money
What are fringe benefits? Select one: a. An agreement between the contractor and the owner to hire workers through the local unions in exchange for a no-strike clause b. None of these c. Mathematically calculated line that depicts the productivity of crews working overtime d. Employee benefits that employers pay in addition to the employee's base pay e. The base rate of pay for an employee
d. Employee benefits that employers pay in addition to the employee's base pay
One of the primary functions of materials management is Select one: a. Reviewing the topography of a project site b. Investigating the location of utilities to a construction site c. Forecasting demand and quantity of material requirements d. Storing materials and inventory control e. Using value engineering
d. Storing materials and inventory control
What is retainage? Select one: a. None of these b. An amount of money that a contractor charges for overhead and profit to the Owner c. A contractor fee used to retain a contractor for as long as the Owner needs work performed d. An amount of money that an Owner provides to a contractor at the beginning of the project to help finance the initial work e. An amount of money that the Owner holds from every pay app to ensure the contractor continues the work as business as usual
e. An amount of money that the Owner holds from every pay app to ensure the contractor continues the work as business as usual
Which statistical control method is used to determine if the variance of two samples are statistically the same or different? Select one: a. None of these b. Control Charts c. Materials Testing d. t - Test e. F - Test
e. F - Test
The effect on productivity when crews know they are being observed is called what? Select one: a. Productivity trend line b. Total quality management c. None of these d. Superintendent effect e. Hawthorne effect
e. Hawthorne effect
Of the following choices, which one is something that the owner determines that affects productivity? Select one: a. Task repetition b. Trade stacking c. Site layout d. Weather conditions e. Payment terms
e. Payment terms
A t-statistic was calculated to be 2.39. The critical t-value for this test is 3.37. What does this mean in terms of the mean values for two different sample sets for the same testing method? Select one: a. The t-statistic is greater than the critical t-value, so that means the means are statistically the same between the two samples b. The t-statistic and the critical t-value e can be considered the same value c. The t-statistic is greater than the critical t-value, so that means the means are statistically different between the two samples d. The t-statistic is less than the critical t-value, so that means the means are statistically different between the two samples e. The t-statistic is less than the critical t-value, so that means the means are statistically the same between the two samples
e. The t-statistic is less than the critical t-value, so that means the means are statistically the same between the two sample
What is flexibility in design? Select one: a. The VE Job Plan b. The use of prescribed specifications that can seldom be changed c. A rigorous, systematic effort to improve the value and optimize the life cycle costs of a project d. Same function, lower cost e. Use of engineering and design judgment rather than adhering to design standards
e. Use of engineering and design judgment rather than adhering to design standards
A program manager is the same as a project manager. Select one: True False
false
An agency construction manager firm is contracted with the Owner, lead designer, and construction firm on a project. Select one: True False
false
Quality assurance is typically the responsibility of the general contractor Select one: True False
false
The scheduled values shown in column C of G703 Continuation Sheet are monetary values that the contractor can change from one pay app to the next pay app to better fit the cash flow requirements of the contractor Select one: True False
false
The topography of a site describes the location of a project site Select one: True False
false
Using quality management helps to establish true quality control for a project by making quality "inspected-in" rather than "built-in." Select one: True False
false
Value engineering typically cheapens the process by lowering costs and reducing the quality of a function Select one: True False
false