1.The procurement phase precedes the design phase since it involves the bidding and award of architect services.

Group of answer choices

True

False

2. A construction company may reduce its home office overhead percentage costs against individual projectsby:

Group of answer choices

B. Decreasing project overhead

B and D

A. Increasing company work volume

D. Downsizing the workforce

C. Getting involved with highly competitive work

3. ..........is a term synonymous with field overhead costs.

Group of answer choices

D. Material Costs

A or B

A. General Conditions

B. Indirect Costs

C. Direct Costs

4. In a Guaranteed Maximum Price (GMP) contract, the owner always covers costs above the GMP.

Group of answer choices

True

False

5. Which of the below reports is submitted by the trade contractor to the owner and is used as a guide for invoicing?

Group of answer choices

Construction Contract

Bid Form

Bar Chart Schedule

All of the above

Schedule of Values

6. Time card information recorded in the field is essential actual data for the accomplishment of which of the following task(s)?

Group of answer choices

Payroll

All of the above

Completion of invoices and/or requisitions

Job costing

Measurement of job site productivity

7.As facilities become larger in area, or greater in capacity, the construction cost increases, but not in linear proportion.

Group of answer choices

True

False

8. Which of these reasons would explain a negative schedule variance?

Group of answer choices

Added work requirements

Poor field supervision

All of the above

An unrealistic schedule baseline

Poor field productivity

9. When a construction company finds out that it's the low bidder on a new project, the good news is that they are the low bidder, and the bad news is that:

Group of answer choices

You are the low bidder and you cannot wait to get started

You are the low bidder and you may have "left some money on the table"

There are always unknowns in any project

The project might be extremely difficult

a and b

10. The overall responsibility for developing and monitoring a proper cost control system cannot be delegated entirely to the field?

Group of answer choices

True

False

11. What can the Contractor request from the Owner to help improve cash flow if an activity is 50% complete in a cost loaded CPM, but paid by the Owner only when activity is 100% complete?

Group of answer choices

A cash advance

Splitting the activity into two parts

A cost increase