AIC MANAGEMENT QUIZ

A contract is entered into in which the design and scope are undefined and the owner agrees to pay for all direct labor, materials, and equipment, plus an agreed upon fee to the contractor for their services. What is this type of contract called? A) turnkey B) cost plus C) unit price D) lump sum

Cost plus

The owner wants to fast-track a construction project. Which project delivery system best supports this process? A) design build b) partnering c) design-bid-build d) CM agency

Design-build

At which point in time must the owner-contractor agreement be provided to each prospective subcontractor bidder? A) at bid opening B) during bidding phase of project C) at signing of owner-contractor agreement D) before signing the owner-contractor agreement

During the bidding phase of project

Which graphical measurement tool is a bar chart that displays a frequency distribution? A) Histogram B) Pareto Chart C)Pie Chart D) Fishbone Chart

Histogram

A contract is entered into in which the owner holds a contract with the architect and each trade contractor. In addition, the owner holds a contract with a management service company to perform the trade coordination, cost control, and scheduling services. What is this project delivery method called? A) partnering B) Joint Venture C) design build D) CM

CM

Which legal entity is considered perpetual? A)Partnership B)corporation C)joint venture D)sole proprietorship

Corporation

Which of the following principles of law states that if the prime contractor reasonably relies on the promise or price of the subcontractor to its detriment, then the subcontractor must be held to its promise to avoid harm to the prime contractor even though a signed contract between the contractor and subcontractor does not exist at the bidding phase of a project? A) consideration B) legal Purpose C) promissory estoppel D)Equitable adjustment

Promissory estoppel

Under which municipal law are corporations formed? A)City B) State C) Federal D) municipal

STATE

Which law establishes basic rules governing the sale of goods used to establish a purchase order? A) Davis bacon act B) UCC C) National Labor Relations D) Uniform transport code

UCC