CDT Cost Estimation & Budgeting 2

Question 1

Which estimating method divides a project into its smallest measurable components and prices each individually?

Accepted Answer

Detailed quantity takeoff

Answer

A detailed quantity takeoff breaks the project into individual components, measures each, and applies unit costs for the most accurate estimate.

Question 2

When preparing a cost estimate for a structural steel project, what is the primary purpose of including a contingency allowance?

Accepted Answer

To account for unforeseen conditions and scope changes

Answer

Contingency allowances are included to cover unforeseen conditions, minor scope changes, and uncertainties that are difficult to price at estimate time.

Question 3

A drafter is preparing a bill of materials for a mechanical assembly. Which document most directly supports accurate cost estimation of fasteners and hardware?

Accepted Answer

Parts list / BOM

Answer

The Bill of Materials (BOM) lists every component, quantity, and specification, enabling precise procurement cost estimation for fasteners and hardware.

Question 4

In construction cost estimating, what does the term 'allowance' typically represent?

Accepted Answer

A budgeted sum for items not fully defined at estimate time

Answer

An allowance is a budgeted sum set aside for items whose full scope or specifications are not yet defined, such as owner-selected fixtures.

Question 5

Which type of cost escalates proportionally as more units of a product are manufactured?

Accepted Answer

Variable cost

Answer

Variable costs, such as raw materials and direct labor, increase in direct proportion to the number of units produced.

(CDT) Certified Drafting Technician Practice Test

(CDT) Certified Drafting Technician Practice Test

CDT Cost Estimation & Budgeting 2