CPE Cost Databases & Resources 2

Question 1

Which RSMeans database division is primarily used for site preparation and earthwork cost data?

Accepted Answer

Division 2 – Existing Conditions

Answer

RSMeans Division 2 (Existing Conditions) covers demolition, excavation, and earthwork cost data.

Question 2

In cost databases, 'bare cost' typically refers to which of the following?

Accepted Answer

Material, labor, and equipment costs without overhead and profit

Answer

Bare cost is the direct cost of material, labor, and equipment before adding overhead and profit markups.

Question 3

When using a historical cost database to estimate a current project, an estimator must apply a cost index to account for what?

Accepted Answer

Changes in construction costs over time due to inflation and market conditions

Answer

Time adjustment indices update historical costs to reflect current pricing due to inflation and market fluctuations.

Question 4

Which publication is a widely recognized source for construction cost data organized by MasterFormat divisions?

Accepted Answer

RSMeans Building Construction Cost Data

Answer

RSMeans Building Construction Cost Data organizes unit costs by MasterFormat CSI divisions and is an industry standard reference.

Question 5

The Engineering News-Record (ENR) Building Cost Index is based on the cost of which components?

Accepted Answer

Structural steel, cement, and skilled labor

Answer

The ENR Building Cost Index tracks costs of structural steel, Portland cement, and skilled labor in 20 cities.

(CPE) Certified Professional Estimator Practice Test