CAC CAC Contract Administration

Question 1

What document formally establishes the relationship between an owner and a contractor?

Accepted Answer

Construction contract

Answer

Bid bond

Answer

Notice to proceed

Answer

Certificate of occupancy

Question 2

Which AIA contract document is most commonly used for a stipulated sum agreement between owner and contractor?

Accepted Answer

AIA A101

Answer

AIA B101

Answer

AIA A201

Answer

AIA G702

Question 3

A Change Order in construction contract administration is used to:

Accepted Answer

Modify contract scope, price, or schedule with owner and contractor agreement

Answer

Document daily construction activity

Answer

Authorize subcontractor payments

Answer

Record punch list items

Question 4

What is a Contractor's Schedule of Values used for?

Accepted Answer

Allocating contract value to work items for progress payment purposes

Answer

Listing subcontractor bids

Answer

Tracking material deliveries

Answer

Documenting RFI responses

Question 5

Which document is submitted by the contractor to request periodic payment during construction?

Accepted Answer

Application for Payment (AIA G702)

Answer

Notice to Proceed

Answer

Submittals log

Answer

Punch list

Question 6

Retainage in a construction contract refers to:

Accepted Answer

A percentage of each payment withheld until project completion

Answer

The contractor's profit margin

Answer

Money held for warranty repairs

Answer

The architect's fee reserve