Professional Practice (12) Flashcards

1
Q

Construction Management organizations should provide training to all employees in:

A

Ethics and standards of practice

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2
Q

Which of the following method of compensation for CM services is INconsistent with the agency CM’s fiduciary relationship to its owner?

A

Percentage of construction costs

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3
Q

A CM at-Risk’s firm has an obligation to:

A

Work in the best interest of the owner until the assignment of construction risk

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4
Q

A CM’s response to an owner’s request for qualifications and/or proposal can be incorporated into the agreement between the owner and CM to:

A

Identify the scope and quality of services the CM is to provide

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5
Q

When the owner assigns risk to the CM, the CM has fiduciary responsibility to:

A

Its own firm

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6
Q

As an agency CM, the CM bears a limited financial responsibility equal to the:

A

The scope of services and the fee agreed upon between the owner and the CM

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7
Q

The ethical practice of construction management focuses primarily on the:

A

Relationship between the CM and clients

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8
Q

When Construction Managers conduct themselves in an unethical manner:

A

They not only damage their reputation but also, they hurt the profession

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9
Q

Which of the following does NOT constitute unethical behavior for a construction management firm during the administration of a project?

A

Balancing fees against required resources and scope of services

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10
Q

The role of the CM changes from Agent for the owner to CM at-Risk when:

A

The CM accepts the performance of construction for a fixed price

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11
Q

The standard of care to which a CM is likely to be held is:

A

That of other CMs similarly-situated by experience, profession and trade

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12
Q

The Code of Professional Ethics of the Construction Manager states that the CM shall:

A

Accept assignments for which I am qualified by my education, training, professional experience and technical competence

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13
Q

Which of the following is a contract stipulation that would have the potential for conflict of interest between the owner and an Agency CM?

A

Offer a low fee and renegotiate with the client once selected as the CM

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14
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15
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