1) Which type of contract is appropriate when the project's actual costs and scope of work are difficult to estimate with accuracy? A. Lump Sum B. Cost Plus C. Unit Prices 2) Which type of contract would be best suited for a CM/GC building project? A. Lump Sum B. Unit Prices C. Cost Plus 3) Unbalancing a bid to take advantage of an owner's error is unethical True False 4) What is the point at which an owner can typically begin to occupy a building or use it for its intended purpose? A. After substantial completion B. When the payment bond is terminated C. At the end of the warranty period D. After final completion5] On a unit price contract, the periodic payment amount is determined based on A. The schedule of values and percentage completion of each pay item B. The submitted invoices, receipts, and timesheets, plus contractor's fee C. The unit prices originally bid, and quantities measured as performed l]. The total amount due, divided by the number of weeks the project is expected to take to complete 6} Please use the excel attached and upload a snippet with your calculations and answer the questions below. For a particular project, the estimated quantity is lllll units, and each day is valued at $l, hy the owner. Contractor bids are shown in the table. a} Complete the tahle {2pts} 7] When might a change by the owner be regarded as a \"cardinal\" change? A. The change resulted in necessary extensions B. The change 1was communicated verbally and not in writing C. The change caused the contractor to lose money l]. The change drastically modied the method or sequence of construction 8) An owner may typically terminate a construction contract for convenience A. True B. False 9) Which of the following is/are not a differing site condition? Select all that apply 1) Unexpected minor price increase 2) Civil unrest 3) Normal, bad weather 4) Owner failure to get permit 10) Differing site conditions are typically less of a source of contention for cost-plus contracts than for lump-sum contracts. A. Ture B. False