CEE 320 - Midterm II (Past exam questions)
Residual Value (RV)
- Value of item in the future that you can sell it for _________ = (PP) x (k) x (H^-exp)
Easement is a legal right to use another's land for a specific limited purpose
Define "Easement" in the context of Surveying
Guarantee that contractor will follow through on intended bid
Define bid bond.
Guarantee that contractor will pay vendors/subcontractors for any materials provided or work performed
Define payment bond
Guarantee that contractor will pay for any unfinished or unsatisfactory work
Define performance bond
D
In the R.S. Means catalog, what is NOT included in the bare cost specified for each line item? (A) Labor cost (B) Equipment cost (C) Material cost (D) The contractor's profit
General Conditions
In the context of construction contracts, what does the term "boilerplate" refer to?
Overhead
In what bid item is the salary of the head of the planning department included in the bid price?
Request for Information (RFI)
Issued when there is confusion or gaps in information with the construction documents in order for the contractor to get clarification.
Location, system, materials used, required resources, methods, trades involved
List SIX different ways to breakdown the work in a construction project (6 types of work breakdown structures)
Offices, Employee salaries/benefits, company travel, entertainment, advertising, accounting & legal fees, business taxes & licenses, interest & bank charges
List six of the main cost items included in a Company's overhead.
RS Means
Name a Cost/Price data source an engineer can refer to when he/she has little or no past knowledge in project pricing.
Proposal form, General contract, Supplementary/Special conditions, Technical specifications, Plans and drawings, Addenda and change orders
Name all six (6) items included in a bid package.
Definitions, Time, Payment, Owner, A/E, & Contractor responsibilities, Changes in work, Disputes
Name six (6) items that would be addressed in the General Conditions of a construction contract.
A
Overhead charges for a single piece of equipment include: (A) The wages of mechanics and supervisory personnel (B) The wages paid to the equipment's operator (C) The capital cost (D) Answers a and b (E) None of the above
Value Engineering
Three examples of implementing ______ __________ into a project are as follows: (1) Keep quality and cost steady - reduce time (2) Keep quality and time steady - reduce cost (3) Keep cost and time steady - increase quality
True
True or False A Bid Bond is needed to assure that the lowest responsible bidder will enter into a contract with the owner.
False
True or False A contractor selected for a project can begin mobilizing to site prior to signing a formal contract with an owner.
True
True or False Construction contract documents are used as the governing instrument in a construction project.
False
True or False Economic Life of an equipment is generally longer than its Profit Life.
False
True or False Economic Life of an equipment is generally longer than the Profit Life.
True
True or False Insurance Clause can be found in the Supplementary Conditions of a construction contract.
True
True or False Liquidated damages would be included in SUPPLEMENTARY conditions of a contract.
False
True or False Overhead charges for a piece of equipment include the wages paid to the equipment's operator.
True
True or False Specification phrases such as "Bolted connected to be torqued to 1,500 NM" and "Select only from the following list of manufacturers" are enforceable by contract if the contractor fails to comply.
False
True or False Specification phrases such as "installed in a neat and workmanlike manner" and "to the satisfaction of the engineer" are enforceable by contract if the contractor failed to comply.
False
True or False The RS Means would be accurate for estimating the cost of a specialty offshore oil platform.
False
True or False The cost of renting the job-site Trailer (job-site offices) is part of the Home Office Overhead.
False
True or False The key to a successful cost control is the development of an accurate project schedule.
True
True or False The materials that comprise facilities in building construction are subject to review by the architect or design professional.
True
True or False A contractor's bonding capacity dictates the size of project that can be bid on and undertaken.
C
What are liquidated damages? (A) Liquidated damages are paid by the owners to the contractor if a project is completed earlier (B) Liquidated damages are paid by the contractor to the owner if a project has quality problems (C) Liquidated damages are paid by the contractor to the owner if a project is not completed on time (D) Contractors use them to cover costs and fees associated with loss and damages when a project is not finished on schedule
Bidding & Contractual Documents & Forms, Contract and Conditions, Technical Specifications
What are the three (3) main parts of specifications?
-Cost & Scheduling -Able to visualize the entire project scope -Trade specific help
What are three (3) advantages of using 3D Building Information Modeling compared to 2D drawings?
D
What factor(s) is/are considered when calculating the Minimum Direct O&O cost of equipment. (A) Purchase Price (B) Operating Hours (C) Estimate of Residual Value (D) All of the above
A surety company will pay the owner for any work that is unfinished if the contractor falls through during the construction process. Simply put, they issue bonds.
What is a Surety Company?
An insurance company is a risk management firm intended to hedge potential risks that could lead to financial losses.
What is an insurance company?
B
What is the purpose of Liquidated Damages? (A) Liquidated Damages are punitive. They are meant to penalize the contractor for being late. (B) Liquidated damages are not punitive. They are meant to compensate the owner for any potential loss caused by the contractor's delay. (C) Liquidated damages are included in a project cost estimate to hedge a contractor against risk for potential delays. (D) Answers a and c.
The purpose of the proposal form is for the contractor and the owner to confirm that the tasks outlined in the bid documents will be performed for the price listed in the proposal.
What is the purpose of a bid "Proposal Form"?
To anticipate any future risks or challenges that the construction firm may undergo during the project, so they are aware of what could possibly occur
What is the purpose of construction contingency?
Insurance Clauses, Additional instructions, mandatory wage rates, liquidated damages
What is usually communicated in the Supplementary Conditions of a contract? List four (4) items at least.
bank, loose
When an excavator extracts material from a natural source, the volumetric state of the material goes from _________ to __________.
A
Which of the following is NOT a commonly used method for the development of a cost estimate? (A) Productivity analysis (B) Unit Pricing (C) Resource enumeration (D) Work package/assembly method
E
Which of the following is NOT always included in the proposal agreement form? (A) Price schedule (B) Contract duration (C) Duration between the startup of construction (D) The notice of award (E) Project topography
E
Which of the following represents the "Markup"? (A) Profit (B) General Conditions (C) Company Overhead (D) Addenda (E) Answers a and c
B
Which of the following would NOT be covered in supplementary conditions? (A) Scope clause (B) Shop drawings and samples (C) Location Clause (D) Liquidated damages
B
Why is BIM a helpful tool for bidding phase of a project and project pursuits? (A) To enable clash detection between different building systems (B) To demonstrate construction sequencing and logistic planning to owners (C) To track progress during construction (D) BIM provides less detail than the drawings
C
______________ is the force whose magnitude is expressed in lb/ton and it is a function of the tire's penetration on the ground? (A) Usable force (B) Available force (C) Rolling resistance (D) Grade resistance
