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CMIT FINAL EXAM 2024 LATEST UPDATED 400 QUESTIONS WITH DETAILED VERIFIED AND 100% CORRECT ANSWERS ACTUAL BRAND-NEW EXAM ALREADY GRADED A+$11.99
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CMIT FINAL EXAM 2024 LATEST
UPDATED 400 QUESTIONS WITH
DETAILED VERIFIED AND 100%
CORRECT ANSWERS ACTUAL
BRAND-NEW EXAM ALREADY
GRADED A+
The first step in the risk allocation process is:
A) Determine which player has the greatest financial
resources
B) Identify the sources of risk and assess their impact on
the project
C) Calculate the amount of risk the project budget can
absorb
D) Prioritize the risks to the project - ....ANSWER...B)
Identify the sources of risk and assess their impact on the
project
It is in the best interests of the owner to allocate all risk to
other parties.
True False - ....ANSWER...True
1
,Which of the following statements is FALSE?
A) Risk should be assigned to the party who can best
control it.
B) Risk should be assigned to the party who can bear it at
the lowest cost.
C) Assumption of the risk by other parties results in lower
cost to the owner.
D) If no other party can control the risk or bear the loss,
the risk should be assigned to the owner. -
....ANSWER...C) Assumption of the risk by other parties
results in lower cost to the owner.
Indemnification protects one party (indemnitee) from
claims by third parties in that another party (indemnitor) is
obligated to pay for any liabilities incurred.
True False - ....ANSWER...True
A limitation provision seeks to limit a party's liability to
the party's client.
True False - ....ANSWER...True
A CM must purchase insurance coverage for protection
against claims by its own employees.
True False - ....ANSWER...True
2
,The process of evaluating the construction documents for
clarity, completeness, & consistency is referred to as a
.
A) maintainability review
B) constructability review
C) biddability review
D) operability review - ....ANSWER...B)
constructability review
A CM's role and responsibilities are governed solely by the
Owner/CM Agreement.
True False - ....ANSWER...True
There are two basic forms of CM, agency and at-risk. Each
form provides for the basic services of construction
management practice. However, there are some key
differences. Which of the following do not apply to both
CM forms?
A) Both forms provide advice to the owner on
constructability, budget and the schedule.
B) Both require that the liabilities and risks assumed by the
parties be clearly understood, coordinated, and stated in
the respective contracts.
C) Both forms allow the CM to function in an advisory
role for the entire engagement of the CM.
D) Services can vary based on the contractual relationships
of the parties and the risks that are assumed. -
....ANSWER...C) Both forms allow the CM to function in
an advisory role for the entire engagement of the CM.
3
, Construction management had its beginnings in the early
to mid-1960's. Which of the following factors contributed
to the initial use of this delivery system?
4
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