PART 1: Scan-Iron 50% 1. Profit for a construction should be considered separate
ID: 1714014 • Letter: P
Question
PART 1: Scan-Iron 50% 1. Profit for a construction should be considered separately from all other construction costs a) True b) False 2. Which of the following is not a benefit of adding profit at the end of an estimate? a) The contractor as a good idea of the risks and problems for the project b) It allows contractors to add the optimal amount of profit c) It allows estimators to focus on project costs without worrying about proft d) It allows estimators to be inaccurate during the beginning of the estimate 3, small construction jobs often have a profit range as high as 20% to 25% a) True b) False 4. Large construction jobs often have a profit range between 5% to 10% a) True b) False 5. Conceptual Estimates can be used to estimate costs when little or no design is available. a) True b) False 6. Which of the following methods of estimating is usually not appropriate for a conceptual estimate a) Square Foot b) Project Comparison c) Assembly d) Detailed 7. Which method of estimating usually begins by comparing the costs to a similar project and making adjustments to fit the current project? a) Square Foot b) Project Comparison c) Assembly d) Detailed 8. Square Foot Estimates should take into account buildings height and perimeter. a) True b) False When working as an estimator for a general contractor it necessary to have detailed knowledge of HVAC and Electrical systems. a) True b) False 9. Electrical, Plumbing, and HVAC work is often bid under separate contracts. a) True b) False 10.Explanation / Answer
1) True. for all the constructions, profit will be considered separately other than construction cost.
2) Option D is correct. It is not a benifit that if estimators are inaccurate during beginning of the estimate.
3) True. for small construction jobs profit margin in between 20 to 25 %
4) True. for largeconstruction jobs profit margin in between 5 to 10 %
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