1 Tor F For a contractor to bid on a project the project mar

1. Tor F For a contractor to bid on a project the project margin should outweigh the risk. 2. Tor F Conceptual estimates use completed drawings for accuracy 3. Tor F Square foot estimates are prepared by multiplying the square footage of a building by the cost per square foot with adjustments for differences such building heights. 4. Tor F In negotiated bidding the contractor negotiates all the subcontractor work 5. Tor F Unit-price works is typically used for projects such as road construction 6. TorF The major disadvantage to the owner with a Lump-Sum contract is the majority of risk is placed on the owner 7. TorF APercentage Fee contract is where the contractor\'s fee is based a specified percentage of the construction costs. 8. Torf Ina Fixed Fee with a Guaranteed Maximum Cost contract the majority of the risk is placed on the contractor for construction cost overruns. 9, Tor F Bid Bonds are typically 20-30% of the contract cost. 10. Tor F All bids must be opened publichy. 11. Tor F Contractors are always given a completion date by the owner. 12. Tor F A bid must be selected and awarded by an owner during the bidding process. 13. Tor F Subcontractors generally create their own bids 14. Tor F The profit margin for a general contractor is typically 10-12%. 15. Tor F Historical accounting data should track both the cost and productivity of work performed. 16 Tor F Overtime generally increases productivity 17. Tor F Open shop contractors have more flexibility in determining wage rates and benefits for workers. 18. T or F Productivity is not a factor for equipment, only labor. 19. Tor F The geotechnical report is generally completed prior to the bidding phase of a project. 20. Tor F Excavation is measured in cubic yards.

Solution

Answer 1-True

Answer 2-True

Answer 3-True

Answer 4-True

Answer 5-False

Answer 6-False

Answer 7-True

Answer 8-False

Answer 9-True

Answer 10-True

Answer 11-True

Answer 12-True

Answer 13-True

Answer 14-False

Answer 15-False

Answer 16-True

Answer 17-True

Answer 18-False

Answer 19-True

Answer 20-True