Practice Test Geeks(CDT) Certified Drafting Technician Practice Test
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Cost Estimation & Budgeting Flashcards

7 cards from real CDT practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Cost Estimation & Budgeting flashcards as text

  1. What is the 'three-point estimate' formula (PERT) used to calculate the expected activity cost?

    Answer: (Optimistic + 4×Most Likely + Pessimistic) / 6

    The PERT formula weights the most likely estimate four times and averages it with the optimistic and pessimistic estimates: (O + 4ML + P) / 6.

  2. When a drafting technician creates a parts list for a hydraulic assembly, why is specifying exact material grades (e.g., SAE 1018 vs. SAE 4140 steel) critical for cost estimation?

    Answer: Different material grades have significantly different purchase prices per pound

    Different steel grades vary significantly in cost per pound; for example, alloy steels like SAE 4140 cost considerably more than plain carbon steels like SAE 1018.

  3. A contractor submits a bid with a 12% markup for overhead and 8% for profit, applied sequentially to $500,000 in direct costs. What is the total bid price?

    Answer: $606,720

    Direct costs × 1.12 = $560,000 (with overhead); $560,000 × 1.08 = $604,800 ≈ $604,800; applying sequentially: 500,000 × 1.12 × 1.08 = $604,800.

  4. What is 'earned value' (EV) in project cost control?

    Answer: The budgeted cost of work actually performed

    Earned Value (EV) represents the budgeted cost of work actually performed, used to measure project performance against the plan.

  5. Which of the following best describes a 'ROM' (Rough Order of Magnitude) estimate?

    Answer: An early estimate with an accuracy range of −25% to +75%

    A ROM estimate is produced early in a project with very limited information and typically carries an accuracy range of −25% to +75%.

  6. In a manufacturing environment, which cost is considered a 'direct cost' that can be traced specifically to a product?

    Answer: Raw steel used to fabricate a bracket

    Direct costs like raw steel can be directly traced and attributed to a specific product, unlike overhead items such as facility costs or management salaries.

  7. When reviewing a cost estimate for constructability, a drafting technician notes that a structural detail requires field welding in a confined space. How should this affect the estimate?

    Answer: Labor costs should be increased to reflect the difficulty and lower productivity

    Confined space welding significantly reduces welder productivity and may require additional safety equipment, which must be reflected in increased labor cost estimates.