Interim Valuation

Interim Valuation

Assessment

Quiz

Professional Development

Professional Development

Practice Problem

Hard

Created by

Camille Nicolas

Used 2+ times

FREE Resource

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8 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Assessment of Material on site and off site are under this process: _______

Valuing specific heads of cost

Preparing for First Valuation

Post Valuation Activities

Document Management

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The __________ prepares an interim valuation document that values the construction works completed up to a specified point in time.

Contract Administrator

Project Manager

Cost Manager

Client

3.

FILL IN THE BLANK QUESTION

45 sec • 2 pts

____________ is a pre-cursor to the issue of an interim certificate, which in turn allows an interim payment to be made.

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Most valuations typically use an agreed tender pricing document as the basis of quantities and rates.

True

False

5.

FILL IN THE BLANK QUESTION

45 sec • 2 pts

In construction, the ____ ___ _______ is used to describe additional costs that a Contractor incurs following the breaches of the contract by the Employer.

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The value of any works that are substandard, defective, or not compliant with the intended specification can be partially included in interim valuations.

True

False

7.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Select parts of the interim valuation process.

Desktop check for completeness

Site visit

PCRA Process and internal review

Issue Interim Valuation Documentation

8.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

A _______ certificate or agreement for construction goods, plant or materials, in letter form, used to confirm that ownership of the goods, plant or materials will transfer from one party to another on payment.

Payment

Vesting

Valuation

Contract