CSLB Estimating, Bidding, and Cost Control 2

Question 1

Which estimating method uses cost-per-square-foot figures from similar past projects to produce a quick early estimate?

Accepted Answer

Parametric estimating

Answer

Bottom-up estimating

Answer

Quantity takeoff

Answer

Earned value analysis

Question 2

A contractor's 'labor burden' includes which of the following in addition to base wages?

Accepted Answer

Payroll taxes, insurance, workers' comp, and benefits

Answer

Material costs and equipment rental

Answer

Subcontractor overhead and profit

Answer

Permit fees and inspection costs

Question 3

When preparing a bid, a contractor discovers a material error in their calculations after submitting. Under California law, the contractor may typically:

Accepted Answer

Withdraw the bid without penalty by notifying the owner promptly

Answer

Never withdraw a submitted bid

Answer

Only adjust the bid if approved by all other bidders

Answer

Amend the bid within 24 hours

Question 4

Which document defines exactly what the contractor is responsible for building and forms the basis of the bid?

Accepted Answer

The specifications and drawings (contract documents)

Answer

The bid bond

Answer

The project schedule

Answer

The subcontractor list

Question 5

On California public works projects, a prime contractor typically must perform at least what percentage of the work with their own forces?

Accepted Answer

25%

Answer

10%

Answer

50%

Answer

The law sets no minimum for public works

Question 6

What is the purpose of a 'contingency' allowance in a construction estimate?

Accepted Answer

To account for unforeseen conditions and estimating uncertainties

Answer

To cover the contractor's profit on the project

Answer

To fund design changes requested by the owner

Answer

To pay for permit fees