Skip to main content

Contract types

Which of the following types of contracts offers least control of subcontractor selection and bid amounts?
A. Cost of the work plus a fee
B. Fast-track
C. Stipulated sum
D. Guaranteed maximum price

AnswerC. Stipulated sum. The owner enters into an agreement with the GC before having an opportunity to approve subcontractors or their bid amounts.

ARE 4.0 exam prep: CDS

Comments

Post a Comment

Try These Too!

Fire detection

Which of the following detector types can detect smoke or a smoldering fire that has not yet burst into flames? A. Ionization B. Rise-of-temperature C. Photoelectric D. Flame detectors
Post a Comment
See the answer »

Risk management

How does an owner provide a financial safeguard for the following situations: - unanticipated price escalation of a particular product - an architect’s omission of flashing in the construction documents - a necessary change during construction, modifying the project’s scope. A. Allowance B. Alternates C. Contingency D. Escalation Answer C. Contingency is an amount, usually a percentage, that is part of the project budget to offset changes in the scope of the project, unknown conditions, and gaps/oversights in the documents. ARE 4.0 exam prep: PPP
Post a Comment
See the answer »