TYPES OF CONTRACT IN CONSTRUCTION MANAGEMENT
3 days ago
m_m_pal_36961
Save
Edit
Host a game
Live GameLive
Homework
Solo Practice
Practice
12 QuestionsShow answers
  • Question 1
    60 seconds
    Report question
    Q.

    What is Construction contract ?

    answer choices

    An exchange of promises between two or more parties to do, or refrain from doing an act, which resulting contract is enforceable in a court of law.

    A legal agreement document between two parties (client (Owner) & Contractor) that binds the contractor to do the job with the specified requirements and the client to pay for it.

    Exchange of money in return for construction material and building services.

    Buying from external organizations and 3rd parties to start construction project

  • Question 2
    60 seconds
    Report question
    Q.

    Which types of Contracts not used in Construction

    answer choices

    Design Build

    Unit price Contracts

    Lump-sum Contract

    Express and Implied Contracts

  • Question 3
    60 seconds
    Report question
    Q.

    The total cost of work in Unit Price Contract can be calculated

    answer choices

    After the sign the contract

    Before the sign the contract

    After the completion of the work

    Before the completion of the work

  • Question 4
    60 seconds
    Report question
    Q.

    Advantages of Unit price Contracts

    answer choices

    Tenderers prices are on exactly the same basis

    Owner does know the exact cost of the work.

    Avoid a lot of detailed accounting & measurement.

    Project scope and limits are defined prior to the start of construction.

  • Question 5
    60 seconds
    Report question
    Q.

    Which is not of disadvantages of Lump-sum Contract

    answer choices

    Plans & specifications must be every detail.

    Highly skilled Architect or Engineer is needed.

    The lack of time flexibility in this method may result in delayed project implementation.

    Plans & specifications do not need to be completed in detail

  • Question 6
    60 seconds
    Report question
    Q.

    Total cost of Cost Plus fixed fee Contract (CPFF)

    answer choices

    Total cost = Cost for the work X Fixed Fee

    Total cost = Cost for the work + Fixed Fee

    Total cost = Cost for the work + Percentage of cost

    Total cost = Cost for the work X Percentage

  • Question 7
    60 seconds
    Report question
    Q.

    In Cost plus incentive fee (CPIF) Contract, the compensation is based on contracting performance according to

    answer choices

    Budget

    Schedule

    Quality

    Budget, schedule and quality

  • Question 8
    60 seconds
    Report question
    Q.

    Advantage of Cost Plus Contract

    answer choices

    They allow the focus to shift from the overall cost to the on the quality of work being done.

    They may leave the final cost up in the air since they can't be predetermined.

    They may lead to a longer timeline for the project.

    The all risk on the contractor.

  • Question 9
    60 seconds
    Report question
    Q.

    Which sentence is true about Guaranteed Maximum Price (GMP) Contract

    answer choices

    The contractor agrees to perform work up a price ceiling.

    The contractor agrees to perform work within a price ceiling.

    This method gives greater flexibility for the contractor.

    All sentence not true

  • Question 10
    45 seconds
    Report question
    Q.

    In the Negotiated Contract The owner can negotiating with the contract including method of payment for the work, Bid, etc.

    answer choices

    True

    False

  • Question 11
    45 seconds
    Report question
    Q.

    In Design-Build Contracts is a method to deliver a project in which the design and construction services by the owner.

    answer choices

    True

    False

  • Question 12
    45 seconds
    Report question
    Q.

    Turn-key Contracts is a type of project that is constructed so that it could be sold to any buyer as a completed product

    answer choices

    True

    False

Report Quiz
Why show ads?
Report Ad
Join a game