Preview Questions Cost Estimator | Role Specific Skill

Question 1: How does a Quantity Surveyor deal with discrepancies between estimated quantities and actual quantities on-site?

Which action should you take?

Choose only one option

By applying a standard contingency allowance for all discrepancies

By ignoring discrepancies as they usually resolve themselves

By adjusting the final estimate based on actual site conditions and remeasured quantities

By updating only the material quantities and leaving labor unchanged

Question 2: What is the main benefit of using a risk register in cost estimation?

Which action should you take?

Choose only one option

It reduces the project duration by focusing on identified risks

It helps track identified risks, their probability, impact, and mitigation strategies

It eliminates the need for contingencies in the budget

It simplifies the estimation process by focusing on labor costs

Question 3: What should a cost estimator do if the final cost estimate exceeds the budgeted amount?

Which action should you take?

Choose only one option

Identify areas where cost-saving adjustments can be made to bring the estimate within budget

Cut scope without consulting stakeholders

Seek approval to increase the budget and continue with the original plan

Halt the project and reassess all costs from scratch

Question 4: How is the "Cost of Quality" typically incorporated into a construction project budget?

Which action should you take?

Choose only one option

By creating a specific budget line for quality-related activities

By estimating the costs of defects and rework

By including costs for training and quality audits

By applying a percentage of the total budget for quality assurance

Question 5: In which phase of a construction project is it most important to prepare a detailed Bill of Quantities (BOQ)?

Which action should you take?

Choose only one option

Tendering and Contract Award Phase

Construction Execution Phase

Project Close-Out Phase

Design Development Phase

Question 6: What strategy should be employed to account for unforeseen labor costs in a project's contingency planning?

Which action should you take?

Choose only one option

Ignore labor cost increases since they are unlikely to affect the budget

Use historical labor costs without factoring in market changes

Use a fixed labor rate for the entire project duration

Include a labor buffer for potential overtime, recruitment, or specialized skills required