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Questions in this quiz (18)
1Which group does not have their own standard form construction contracts?
- AThe Engineers Joint Contract Documents Committee (EJCDC)
- BAssociated General Contractors of America (AGC)
- CAmerican Institute of Constructions (AIC)
- DAmerican Institute of Architects (AIA)
2A contract _______________.
- Acannot be formed by actions alone
- Bis like a specification
- Cis a promise
- Dmust be a written document
3Most of the laws that we encounter are written by ___________.
- Athe U.S. Congress
- Bregulatory agencies
- Cstate legislatures
- Dthe court system
4Which Statement is false?
- Abad bargains still make valid contracts
- Bdonative promises are enforceable as contracts
- Cdetriment is an element of the consideration necessary to form an enforceable contract
- Dbenefit is an element of the consideration necessary to form an enforceable contract
5This type of contract can occur without spoken words of agreement.
- Aquantum meruit
- Bspecific performance
- Cquasi-contract
- Dimplied-in-fact
6Verbal contracts _____________.
- Amust be put into writing
- Bare too vague to be useful
- Care enforceable
- Dare uncommon
7This damage award includes the profit that the contractor would have made had the contract been completed.
- AExpectation damages
- Brestitution
- Cinjunction
- Dunjust enrichment
8Which is more likely an enforceable contract?
- Atemporary contract
- Bletter of intent (LOI)
- Cpreliminary contract
- DMemorandum of Understanding (MOU)
9A warranty that arises from the words in a construction contract.
- AExpress Warranty
- BImplied Warranty
- CWarranty of Fitness
- DWorkmanlike Performance
10Which is not an application of good faith and fair dealing?
- Auncovering design problems
- Bduty of cooperation
- Creporting errors or omissions
- Dinchoate contract
11For a federal agency cost-plus-fixed-fee contract ______________.
- Athe contractor may be reimbursed for doing work over a second time
- Bthere is no ceiling price for the work
- Cthe contractor must have a job cost accounting system
- Dthe fixed fee cannot be modified
12Which should the contractor prepare first?
- Acertificate for payment
- Bapplication for payment
- Cmechanics' lien
- Dschedule of values
13Which phrase best describes a stipulation that allows a contractor to adjust its contract price based on changes in wage rates due to local labor agreements?
- Aeconomic price adjustment
- Bunit-price method
- Cguaranteed maximum price
- Dfirm-fixed-price
14A certificate for payment ___________.
- Aauthorizes the owner to pay the contractor
- Bis an approval of the contractor's work
- Conce issued, bars the architect from rejecting the work upon final inspection
- Dnotifies the owner to inspect the contractor's work
15Which pricing method will not impose a fiduciary duty on a contractor?
- Aguaranteed maximum price
- Bfirm-fixed-price
- Ccost-plus-variable-percentage
- Dcost-plus-fixed-fee
16Which is not included in an application for payment?
- Athe retention amount
- Bthe amounts die for completed work
- Cpayments for material and equipment purchased for the work but stored offsite
- Dproject feasibility report fees
17Which pricing method exposes a contractor to the greatest risk of loss?
- Acost-plus-percentage
- Bcost-plus-variable-percentage
- Ccost-plus-fixed-fee
- Dguaranteed maximum price
18When one of the parties to a contract the other party is excused from further performance on the contract.
- Aachieves substantial performance
- Bachieves substantial completion
- Ccommits a material breach
- Dcommits an immaterial breach
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- Quiz on Untitled, created by Keith Hackleman on 04/06/2019.
- Author
- Keith Hackleman
- Language
- English
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