Question 1

Which of the following is not a direct cost?

Options :

A : Construction trailer footing

B : Process piping

C : Plant switchgear

D : Permanent building slab

Answer: A

Question 2

Two essentials for an effective project control baseline are _________________ .

Options :

A : Cash flow and the estimate

B : A resource‐loaded schedule and value engineering plan

C : The schedule and budget

D : The Actual Cost of Work Performed (ACWP) and an updated schedule

Answer: C

Question 3

A Basis of Estimate (BOE)...

Options :

A : Will not address any anomalies or other shortcomings of the estimate or scoping documents

B : Should not describe the accuracy of the estimate, leaving that up to the independent judgment of the stakeholders

C : Should not discuss drawbacks or shortcomings of the scoping documents in order to not antagonize their developer

D : Will describe the primary estimating methodology used in preparation of the estimate

Answer: D

Question 4

If you suspect a contractor’s bid estimate is unbalanced, which of the following best describes what to look for in an estimate review?

Options :

A : Errors and omissions concentrated in only a few elements of the work breakdown or cost account structure

B : Items that will be purchased or installed early and seem to have very high cost values

C : Extremely high escalation costs, particularly for those items installed later in the project schedule

D : Allowances for overtime that on balance appear to be excessive

Answer: B

Question 5

A budget estimate is typically but not always a Class-----estimate.

Options :

A : 1

B : 5

C : 4

D : 3

Answer: D

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