AFSB 152 Simulated Exam Questions (100% Top Score)With Well Explained Answers
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Course
AFSB 152
Institution
AFSB 152
The tender preparation stage of estimating begins after... - CORRECT ANSWER the architect and owner solicit bids, when the contractors begin their estimating processes
To find clarity on payment bond terms, you can... - CORRECT ANSWER consult the applicable and relatively stable case law that do...
AFSB 152 Simulated Exam Questions
(100% Top Score)With Well Explained
Answers
The tender preparation stage of estimating begins after... - CORRECT ANSWER the architect and owner
solicit bids, when the contractors begin their estimating processes
To find clarity on payment bond terms, you can... - CORRECT ANSWER consult the applicable and
relatively stable case law that does define the terms
A surety needs additional information, such as _____________, to adequately evaluate the work-backlog
risk of granting this bond - CORRECT ANSWER the contractor's overall capacity and financial capacity
The Schedule of __________ is one of the most important schedules used by producers and
underwriters when analyzing a contractor's financial statement - CORRECT ANSWER construction in
progress
A potential problem a project owner could encounter when using a design/build contractor is that
government requirements may require a seal on the plans from a professional engineer or a registered
architect, and the design/build contractor may not have a designer on staff (T/F) - CORRECT ANSWER T
The design/build contractor charges a separate design fee in addition to the construction overhead and
profit (T/F) - CORRECT ANSWER F
You can recognize a small companies tax method by looking at their balance sheet (T/F) - CORRECT
ANSWER T
Vast majority of small contractors use one method for both tax reporting and financial reporting -
CORRECT ANSWER F
Bid bonds may not contain specific penal sums or bond penalties (T/F) - CORRECT ANSWER T
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