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Question 1

Which of the following is a non-cash outlay associated with a process manufacturing project?

Options :

A : Depreciation expenses

B : Corporate federal income taxes

C : Interest expenses

D : Operating expenses such as labor and material

Answer: A

Question 2

A common explanation of differences between two estimates is:

Options :

A : The estimator has made a mistake

B : Different estimating software was used in preparation of the two estimates

C : The estimates were prepared at different points in time

D : A change has been made in the scope of the project

Answer: D

Question 3

_______________ are associated with an asset and extend the cost management information beyond the acquisition (creation) of the asset to the use and disposal of the asset.

Options :

A : Life-Cycle Costs (LCC)

B : Indirect Costs

C : Fixed Costs

D : Variable Costs

Answer: A

Question 4

The documents needed for a quantity survey include:

Options :

A : Project drawings

B : Project specifications

C : General conditions

D : All the answers are correct

Answer: D

Question 5

A Basis of Estimate (BOE)...

Options :

A : Will not address any anomalies or other shortcomings of the estimate or scoping documents

B : Should not describe the accuracy of the estimate, leaving that up to the independent judgment of the stakeholders

C : Should not discuss drawbacks or shortcomings of the scoping documents in order to not antagonize their developer

D : Will describe the primary estimating methodology used in preparation of the estimate

Answer: D