CIA Construction Cost Estimating & Building Materials 2

Question 1

Which type of roof covering generally has the longest expected lifespan and the highest replacement cost per square foot?

Accepted Answer

Metal standing seam roofing

Answer

Three-tab asphalt shingles

Answer

Architectural asphalt shingles

Answer

Built-up roofing (BUR) membrane

Question 2

In insurance appraisal, what is the primary significance of masonry construction versus wood-frame construction?

Accepted Answer

Masonry construction generally provides greater fire resistance and carries higher replacement costs due to material and labor requirements

Answer

Masonry construction is always less expensive to replace than wood-frame

Answer

Wood-frame construction is considered superior for earthquake resistance in all regions

Answer

Construction type has no significant impact on insurance appraisal values

Question 3

What does the ISO construction class system refer to in building appraisal?

Accepted Answer

Insurance Services Office classification rating a building's combustibility from fire-resistive to frame

Answer

International Standards Organization certification for approved building materials

Answer

An appraisal category based on square footage tiers for premium calculation

Answer

A building code classification for structural occupancy types

Question 4

When estimating replacement costs, why is it important to correctly identify whether exterior walls are EIFS (Exterior Insulation and Finish System) rather than traditional stucco?

Accepted Answer

EIFS has documented moisture infiltration problems and unique repair and replacement cost characteristics distinct from traditional stucco

Answer

EIFS is always less expensive than traditional stucco to replace

Answer

EIFS qualifies for special federal tax incentives that affect the appraisal value

Answer

EIFS is prohibited in most U.S. states for commercial construction

Question 5

Which flooring material typically commands the highest replacement cost per square foot when calculating insurance values?

Accepted Answer

Polished natural stone such as marble or granite

Answer

Vinyl composition tile (VCT)

Answer

Engineered hardwood

Answer

Laminate flooring

Question 6

In construction cost estimating for insurance purposes, what does the standard 'like kind and quality' mean?

Accepted Answer

Replacing damaged materials with materials of equivalent quality, type, and characteristics as the original

Answer

Using the least expensive material available that performs the same basic function

Answer

Upgrading damaged materials to meet current building code requirements

Answer

Using nationally averaged cost data without local market adjustments

Question 7

What is the significance of identifying 'green building' or LEED-certified features when performing an insurance appraisal?

Accepted Answer

Green-certified materials and systems typically carry higher replacement costs and may require specialized contractors to restore properly

Answer

Green building features never affect replacement cost calculations since they use standard materials

Answer

Green buildings always qualify for significantly reduced insurance premiums regardless of other risk factors

Answer

Green building features are only relevant for new construction appraisals, not existing buildings