1. When the amount that has been earned (BCWP) is consistentlybelow the actual cost to date (ACWP), it can be concluded that theproject is under cost.

True

False

QUESTION 2

16.6       The main purposeof an audit of a construction company’s financial statements isto:

		Confirm that the statement was prepared in accordance with GAAPrules
		Prepare income tax returns
		Check the arithmetic used in the financial statement
		Find employee malfeasance

QUESTION 3

16.5       From the projectlifecycle, we can learn all of the following except:

		Early CM involvement helps to optimized time and costmanagement
		Material and labor expenditures should be leveled to manage cashflow
		Project risk declines with time
		Cost of change increases with time

QUESTION 4

16.3       Which of thefollowing best describes the challenges in managingdemobilization?

		Managing labor productivity for smaller, fussier tasks andmanaging worker expectations
		Maintaining the project owner's attention
		Slow government approvals
		Subcontractors are unwilling to complete work until finallypaid

QUESTION 5

16.1       When the amountthat has been earned (BCWP) is consistently below the amount thatwas supposed to be earned (BCWS), it can be concluded that theproject is behind schedule.

True

False

QUESTION 6

16.7      Cost estimating and theresulting data are used for all purposes except:

		    Financial Management of theCM Company
		       Planning theproject
		    Monitoring and controllingcosts
		      Costing to win theproject

1. 16.4       Closeoutprocedures can also benefit the construction manager’s long-termperformance in all ways except:

		       Lessonslearned from the project can improve performance on similar futureprojects.
		The closeout documents are the construction manager'sproperty, so the owner must work with the construction manager whenfuture renovations or additions are performed
		      The closeoutinterview between senior construction management personnel and theproject owner increases the likelihood of future constructionwork.
		    Retention of excellent contractdocument records can benefit the project owner in futurerenovations.