1. In case of a unit-price contract, if a contractor quotes higher rates for some items and lower for the other items in the tender, then such a tender is known as ______.
[A] Irregular tender
[B] Unbalanced tender
[C] Balanced tender
[D] Regular tender
Answer: Option B
2. In a civil engineering work contract, the purpose of appointing an arbitrator is to _____.
[A] Arbitrarily take measurement of works done
[B] Avoid legal formalities, delays, and expenses
[C] Make the contract legal
[D] Avoid arbitration and increase speed of work
Answer: Option B
3. The main purpose of framing the conditions of contract is ______.
[A] to make the work stronger and long lasting
[B] to avoid the disputes between parties
[C] to make the contractor responsible for any problem
[D] to make the owner responsible for any problem
Answer: Option B
4. The amount which is paid at the time of submitting a tender is known as _____.
[A] Earnest money deposit
[B] Security deposit
[C] License money deposit
[D] Earnest and security deposits
Answer: Option A
5. Once a tender is accepted, a deposit of about 5% of the total estimated cost of the work is called _____.
[A] Earnest money deposit
[B] Security deposit
[C] License money deposit
[D] Earnest and security deposits
Answer: Option B
6. In construction project management, Sensitivity Analysis is a modeling technique used _____.
[A] to identify sensitive components of the project
[B] to determine impact of uncertainties having significant impact on project
[C] to determine important activities of a project
[D] to determine accuracy of budget estimation
Answer: Option B