LARE Section 3: Construction Documentation & Administration exam 2024/2025 with 100% correct answers
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Course
LARE Section 3: Cons
Institution
LARE Section 3: Cons
Addenda correct answersformal changes or clarifications issued to all identified bidders by the owner or the owner's representative during the bid process
Additional Work correct answersConstruction work that was not recognized at the contract award but that must be performed in order to deliver...
LARE Section 3: Construction
Documentation & Administration
Addenda correct answersformal changes or clarifications issued to all identified bidders by the owner or
the owner's representative during the bid process
Additional Work correct answersConstruction work that was not recognized at the contract award but
that must be performed in order to deliver a project as planned.
Agency agreement correct answersan agreement between a principal and an agent by which the agent
agrees to perform certain tasks for the principal. The principal is bound by the actions of the agent.
Alternates correct answersan itemization of selected items of work for which bidders are asked to
provide prices that will add to or subtract from the base bid. These prices items will give the owner
greater flexibility in choosing items to add to or delete from the contract.
Arbitration correct answersa well-established alternative to litigation in which the conflict is resolved by
an impartial third party or an impartial panel of selected individuals.
As Built Drawings correct answersalso called as built's; project drawings that show all data concerning
the actual in-place locations of all construction items, including any items that differ from what was
shown in the original drawings.
Balanced Bid correct answersa unit price bid that accurately reflects the actual anticipated price of each
item of work to be performed.
Bid Bond correct answersa surety instrument that guarantee to the owner that the bearer, if awarded
the contract will enter into a binding contract and provide all required bonds.
Bid peddling correct answersthe effort by a bidder, usually a subcontractor, on a project to determine the
relative standing of a quoted bid. If the bid is not the lowest bid, the bidder may reassess the amount
originally quoted and submit a lower bid before the deadline for bid submittal.
,Bilateral contract correct answersan agreement made through the mutual promises of the contracting
parties.
Boilerplate correct answersthe general conditions that outline the roles of the parties to a construction
agreement and provide guidance concerning procedures to follow under varying circumstances.
Bonding Capacity correct answersthe maximum amount of uncompleted construction work that a
contractor can have under contract, above which no bonds are required
Brokerage correct answersa situation in which the general contractor subcontracts all the work on a
project.
Builders Risk Insurance correct answersconstruction insurance that provides coverage specifically for a
project that is under construction. Although this is normally considered to be fire insurance, other types
of losses are also generally covered.
Cardinal Change correct answersa change order that is of such magnitude that the original scope of the
project is altered to an extent that constitutes a new contract.
Caveat Emptor (let the buyer beware) correct answersa defense, no longer valid, in which it is assumed
that a product must be accepted with whatever flaws exist at the time of purchase.
Certificate of insurance correct answersa written document that serves as evidence that a particular
insurance policy is in force.
Change Order correct answersa directive, usually authorized in writing by the owner, to alter or modify
some aspects of a project. Such a directive is generally accompanied by and adjustment to the contract
amount and/or the contract duration.
Closed Specification correct answersa spec that is expressly restrictive in starting that only one or two
products will satisfy the quality requirements, or is implied when performance is so narrowly prescribed
that only one or two products will satisfy the requirements.
, Code of Ethics correct answersthe written standards of behavior adopted by a profession.
Complimentary Bid correct answersa bid that is not prepared in earnest, but is presented to appear to be
a serious bid. Such bids are usually generated through collaborative efforts with another bidder who
does submit a serious bid.
Construction Schedule correct answersa detailed network analysis or bar chart of a construction project
showing the sequence and duration of activities required to construct a project.
Contractor correct answersthe party, also called the prime or general contractor, who has primary
responsibility for the construction of a project.
Contributory Negligence correct answerscareless acts of an injured person that accompany the careless
acts or physical conditions under the control of a second party.
Cost Plus Contract correct answersa contract in which the contractor is reimbursed for specified incurred
costs, with an additional allowance provided for overhead and profit.
Design Build Method correct answersan agreement by which the owner lets a single contract for both
the design and the construction of a project; also known as design-construct or turnkey construction.
Designer correct answersthe party responsible for translating the concept of a project to a document
that can be used as a guide for its construction.
Design Specifications correct answers"how to" Specifications that state exactly what the contractor is to
do in order to satisfy a quality requirement.
Final Completion correct answersthe status of a project when all punch list items have been satisfactorily
addressed and the owner officially accepts the project. At this point, the retainage can be released to the
contractor.
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