Certified Cost Professional Question No 16

Question No 16:

A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is
referred to as:

A. Surety bond
B. Performance bond
C. Bid bond
D. Liability bond

Answer: C

Certified Cost Professional Question No 15

Question No 15:

A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. 

New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data. The following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 

Which statement best describes the type of information available for a design phase estimate?

A. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied
B. Square footage of buildings, factored indirect, types of rides and exhibits identified, utility requirements, conceptual layouts
C. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major subcontractors
D. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or estimates received from subcontractors

Answer: D