Quiz Questions Flashcards
What are ways of compensation an employer can give an employee without being taxed
- Paying for travel to conentions and seminars
- Day care services offered to all employees
- Educational reimbursements
What would typically be taxed even if it’s a reward to employees
- Raise
- Bonus
According to the NCARB Rules of Conduct what should architect do if client or employer violates law/regulation or changes a vital aspect of s project without architect’s consent
- Report the decision to local building inspector
- refuse to consent to the decision
- terminate his/her services with reference to project if architect believes decision was made with his objection
What is G703
Continuation Sheet
Who should attend an exexutive meeting
- Principal in-charge
- Project Manager
During the schematic design phase for a hospital diagnostics suite renovation, a project architect in a 55-person firm is reviewing the drawing delivery schedule. The project architect has determined that it will be difficult to meet the project milestones since the majority of staff assigned to the project have little experience in hospital renovations.
What is the best option for the project architect to propose to the partner in charge?
A. Make replacements to the staffing plan
B. Revise the milestones to meet the staffing plan
c. Provide a training plan for the inexperienced staff that have been assigned
D. Assign additional staff to the project
A Make replacements to the staffing plan
Correct. Replacing inexperienced staff with experienced staff should allow for greater efficiency and better work flow, making it easier to meet the milestones. In the long run, the cost of utilizing experienced staff could be less than the potential costs for overtime or additional staffing that might be required to meet the milestones.
B Revise the milestones to meet the staffing plan
Incorrect. Revising the established project milestones could negatively impact the architect’s relationship with the owner as well as the owner’s financial and scheduling needs. This may also add to the architect’s production costs by extending the time allocated to the project.
C. Provide a training plan for the inexperienced staff that have been assigned
Incorrect. Providing a training plan for inexperienced staff members could be a good long-term solution to this problem. However, implementing this plan in the middle of a project with a deadline could result in an increase of production costs and time delays. Staff assignments should be made to match staff members’ skills and experience levels with project needs.
D Assign additional staff to the project
Incorrect. Assigning additional staff to the project will increase the production costs and may not add any helpful experience to the project.
AIA A101
Standard Form of Agreement Between Owner and Contractor where the basis of payment is Stipulated Sum
What is the break-even rate per hour for an employee who is paid $25/hr in a firm with an overhead rate of 1.2?
Formula
Break-even rate = Overhead rate + 1.0
X =(25 x (1.2 + 1) ) = $55/hr
In an initial meeting with a client for a new project, the client is shown to have unrealistic design and construction deadlines for a hotel project. What could be a possible solution to minimize risk to the architect in such a situation?
A. agree to all conditions set by the client
B. Negotiate preliminary design and construction schedule to establish the feasibility of the project
C. Have client agree verbally to construction deadlines
D. reduce architect’s fees to allow for future increases
F. Negotiate scope and duration of project to establish architect’s fee
B. Negotiate preliminary design and construction schedule to establish the feasibility of the project
F. Negotiate scope and duration of project to establish architect’s fee
Which of the following statements on cash flow statements are true?
A. It is also called a profit and loss statement
B. Shows only the inflow of cash
C. The information in a cash flow statement can be used to develop reports for individual projects
D. It is used at the end of the year to calculate taxes
E. Shows the monthly financial situation of the business
C. The information in a cash flow statement can be used to develop reports for individual projects
E. Shows the monthly financial situation of the business
What is the difference between a cash flow statement and an income statement?
A cash flow statement shows the inflow and outflow of cash or cash equivalents. It shows the monthly financial status of the business. The information in a cash flow statement can be used to develop reports for individual projects for tracking their progress.
T/F
The preparation of records is normally compensated as an additional service
True
Record drawings are prepared by the architect and reflect on-site changes the contractor noted in the as-built drawings. This is not a standard part of the Owner-Architect agreement and would be considered an additional service
