The two main assests which determine a contractors ability to perform work are correct answers people and Equipment
When a contractor bids a project that has a unit and unit price contract, all of the quantities on the project are provided by the engineer of record before the project is bid. cor...
CNST 241 exam 1 || with 100% Accurate Solutions.
The two main assests which determine a contractors ability to perform work are correct answers
people and Equipment
When a contractor bids a project that has a unit and unit price contract, all of the quantities on the
project are provided by the engineer of record before the project is bid. correct answers true
When comparing different equipment options on a project to determine the most cost effective
option you will have to complete a cost ____________ analysis. correct answers benefit
The internal combustion engine was developed before the steam powered engine. correct
answers false
Equipment technology has advanced over the past 20 years and GPS guided equipment is no
more common. The term GPS stands for global _______________ system. correct answers
positioning
Earthwork contractors take many risks when working on a project.
True of False: One of the risks that have to be concerned with is the time of the year the project
is being constructed? correct answers true
In most cases, a piece of equipment does not work as a stand alone unit. Machines normally
work in a linked production system as a group of machines. This is commonly referred to as an
equipment __ correct answers spread
Which of the OSHA's "Fatal Four" categories of causes of death include construction workers
killed when caught-in or compressed by equipment or objects, and struck, caught, or crushed in
collapsing structure, equipment, or material correct answers Caught-in/between
Cash flow diagrams: When drawing an arrow on the cash flow diagram that represents a future
salvage value the arrow should be drawn above or below the horizontal time axis? correct
answers above
Cost or payments that differ in magnitude and are incurred at different times are not equal, but
they could be correct answers equivalent
A cost that repeats annually and is the same in magnitude each year is called a
_________________ cost. correct answers uniform
You are drawing a cash flow diagram to help determine the cost to purchase a new piece of
equipment. The life of the machine is anticipate to be 10 years. At what period do you draw the
arrow that represents the purchase price. correct answers 0
Your company has owned their current excavator for 10 years. The annual property tax that is
paid to that AHJ's is considered which type of cost? correct answers uniform
, You are drawing a cash flow diagram to help determine the cost to purchase a new piece of
equipment and you want to ensure you are taking into account the annual maintenance cost. The
arrows representing the annual maintenance cost will be drawn at the ____________________ of
the period in which they were incurred. correct answers end
When comparing the ownership costs of different pieces of equipment that have different usual
lives its acceptable to convert all cost to a present value and compare the costs at year 0. correct
answers false
When you make a decision that results is less of a return on your investment than if you would a
selected a more lucrative option, it is referred to as a lost _________________________ . correct
answers opportunity
If order to determine the hourly operating cost for a machine you need to convert the purchase
price, maintenance cost, salvage value, and other misc. costs into uniform annual costs. You then
divide the annual cost by the hours the equipment is used per year. correct answers true
Making a down payment on a new scraper is an example of which type of cost? correct answers
single cost
You are a site utility contractor that owns 5 backhoes. The costs that are incurred even when the
equipment is NOT being utilized on a job site are called ____________________ costs. correct
answers ownership cost
A repair that extends the useful life of the equipment, such as rebuilding an engine, is considered
a operating cost. correct answers false
Select all costs below that could be considered ownership costs. correct answers Purchase price
Salvage value
Lease payments
When estimating a project you complete the following steps:
Determine the quantity of material (CY, SY, CF, SF)
Apply a production factor to the quantity to determine the duration (CY/hr, SY/hr, etc.)CY /
(CY/hr) = hr
Determine the unit cost to put each unit in place ($/hr)
Apply the unit cost to the duration to determine the cost to complete that scope of workhr x
($/hr) = $
What step is the ownership and operating cost used to help complete the estimate? correct
answers determine material quantity
The approx. cost to purchase a new CAT 627 double engine scraper is approx? correct answers
$1,400,000
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