CCT Construction Materials & Labor Costs 4

Question 1

Which of the following is an example of a 'bare cost' in construction estimating?

Accepted Answer

Material + labor + equipment without overhead or profit

Answer

Bare cost represents direct field cost of material, labor, and equipment before adding overhead, profit, or other markups.

Question 2

When escalating a material cost estimate from a base year to a future bid date, which formula is correct?

Accepted Answer

Future Cost = Base Cost × (Future Index / Base Index)

Answer

Cost escalation is calculated by multiplying the base cost by the ratio of the future index to the base index.

Question 3

A subcontractor's bid includes a 'material markup' of 15%. If the net material cost is $80,000, what is the total material cost charged to the owner?

Accepted Answer

$92,000

Answer

$80,000 × 1.15 = $92,000 total material cost including the 15% markup.

Question 4

In construction estimating, 'crew hours' differ from 'worker hours' in that crew hours represent:

Accepted Answer

The elapsed calendar time a crew spends on a task regardless of crew size

Answer

Crew hours measure the duration of the task (calendar time), while worker hours equal crew hours multiplied by the number of workers.

Question 5

Lumber is commonly priced and quantified using which US unit of measure?

Accepted Answer

Board feet (MBF)

Answer

Lumber is sold by the board foot (volume unit = 1" × 12" × 12") and priced per thousand board feet (MBF) in the US.

(CCT) Certified Cost Technician Practice Test