CBP CBP Estimating & Cost Control

Question 1

Which estimating method uses historical cost data from similar completed projects to predict the cost of a new project?

Accepted Answer

Analogous estimating

Answer

Analogous estimating uses historical data from similar past projects as a basis for predicting costs of a new project.

Question 2

A contractor receives a bid for $450,000 on a job estimated at $400,000. What is the bid-to-estimate variance percentage?

Accepted Answer

12.5%

Answer

The variance is ($450,000 - $400,000) / $400,000 = $50,000 / $400,000 = 12.5%.

Question 3

In a unit-price contract, the contractor is paid based on:

Accepted Answer

Predetermined prices per unit of work completed

Answer

Unit-price contracts pay a set amount per measurable unit of work (e.g., per cubic yard of concrete or linear foot of pipe).

Question 4

Which document provides the most detailed breakdown of materials, labor, and overhead for a construction estimate?

Accepted Answer

Quantity takeoff sheet

Answer

A quantity takeoff sheet itemizes every material and labor component needed, forming the quantitative foundation of a construction estimate.

Question 5

Overhead costs in construction estimating are typically categorized as:

Accepted Answer

General and project overhead

Answer

Overhead is divided into general overhead (company-wide costs like office rent) and project overhead (site-specific costs like a job trailer).

(CBP) Certified Building Professional Practice Test