Which of the following item is required FIRST for the cost of lump-sum estimating?
A. Indirect costs
B. Equipment
C. Material (Quantity takeoff )
D. Markup
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Which of the following item is NOT directly related to bid ethics?
A. Bid Shopping
B. Increase sub-bid quotes to GC after the award of prime bid
C. Inflation
D. Bid Rigging
Which of the following description is correct?
A. The definition of “principal structure” is unclear in China.
B. Parties in item JV participate in common profits or losses.
Chinese Law regulates that GC may subcontract part of its work without consent of the owner.
Which of the following description is correct?
A. In practice, FDL makes applicable provisions of the prime contract also applicable to the PO.
B. “Free on board (FOB) construction jobsite” means the buyer would have bear risk of loss during transit.
C. GCs can always reject payment to the subcontractors when the “No pay until paid” provision exists in the subcontracts.
D. If an agreement involves a high volume of on-site labor activities, this agreement is normally regarded as “purchase order.”
Which of the following description is correct about labor agreements?
A. The purpose of“Lockout provisions” is protecting labors’ rights (to be paid timely and safety).
B. The union may cease the work as long as any dispute is being settled.
C. “Hiring hall provisions” indicate that the union is NOT the exclusive source of labor for job openings.
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