Which distinguishes detailed quantity survey from installed-unit estimating?
Correct Answer
A) Quantity survey itemizes quantities/tasks; unit-in-place applies supported installed-unit costs.
Quantity survey uses detailed material and labor quantities; unit-in-place uses installed assemblies or units. Both need appropriate additional costs not already embedded. Detail alone does not guarantee superior accuracy if inputs are weak, and no assessor-only permission rule is imposed.
Why This Is the Correct Answer
Option A is correct because the quantity survey method itemizes quantities of material, labor and other cost elements, while unit-in-place applies supported installed costs per construction unit. Unit-in-place is a condensed version of the quantity survey.
Why the Other Options Are Wrong
Option B: Quantity survey applies one buildingwide square-foot price; unit-in-place itemizes each material quantity.
Option B reverses the methods. Applying one buildingwide square-foot price describes the comparative unit method, not quantity survey, and unit-in-place applies installed unit costs rather than itemizing each material quantity.
Option C: Unit-in-place is the more detailed method and is presumed more accurate than a quantity survey.
Option C says unit-in-place is the more detailed method and is presumed more accurate. Unit-in-place is a condensed version of the quantity survey, so quantity survey is the more detailed method, and detail alone does not guarantee better accuracy if inputs are weak.
Option D: Both methods exclude the indirect costs and price the materials alone, without labor.
Option D says both methods exclude indirect costs and price materials alone without labor. Quantity survey includes labor and other cost elements, unit-in-place uses installed costs that include labor, and both need appropriate indirect costs added if not already included.
Survey counts, unit summarizes
A quantity survey counts each material and labor item; unit-in-place summarizes them into installed units like a wall or roof square.
How to use: Use this to match each cost method to its level of detail.
Exam Tip
Rank the cost methods by detail: comparative unit, then unit-in-place, then quantity survey.
Common Mistakes to Avoid
- -Thinking unit-in-place is more detailed than quantity survey
- -Confusing quantity survey with the square-foot method
- -Assuming installed unit costs exclude labor
Concept Deep Dive
Analysis
This question tests the difference between the quantity survey and unit-in-place cost-estimating methods. Quantity survey itemizes the quantities of material, labor and other cost elements, while unit-in-place is a condensed version that applies installed costs to construction units. The candidate must also avoid assuming that more detail by itself means more accuracy.
Background Knowledge
Cost new can be estimated by comparative unit, unit-in-place, or quantity survey methods, in increasing order of detail. The quantity survey replicates a contractor's bid with itemized material, labor and other costs, while unit-in-place summarizes in-place costs of building components.
Real-World Application
A contractor bidding a custom home prepares a quantity survey listing lumber, concrete, labor hours and fees. An appraiser reviewing the same project might instead use unit-in-place costs for foundation, framing, roofing and mechanical systems to reach a cost estimate more quickly.
More Cost Approach Questions
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The improvements have direct costs of $320,000, indirect costs of $40,000 and a separate entrepreneurial incentive of $40,000. These amounts do not overlap and make up the full cost of the improvements. Total depreciation is estimated at 22% of their sum, and the site value is $180,000. What is the indicated value by the cost approach?
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A component is expected to require replacement before the structure’s analyzed remaining horizon. How is it treated in this breakdown?