Let’s work on question 15-20 from the 2015 First-Class Constructor Examination, related to \"Engineering Economics\": multiple-choice questions 01-02

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I’ve gathered some questions from this year’s First-Class Constructor exam, along with their answers. I’m sharing them here to boost everyone’s interest in participating. Instead of posting them all at once, I’ll present a few multiple-choice questions or one case study at a time, with the answers hidden. The answer will be visible after responding. Everyone is welcome to participate; the moderator will give a reward for correct answers. ****************************************** 1. The total cost for the construction and installation of a project, including the purchase of equipment and construction tools, is 70 million yuan. The construction period is 2 years, with investments of 40 million yuan and 30 million yuan made in separate phases. During the construction period, the expected annual average price increase rate is 5%, and the loan interest for the construction period amounts to 7.35 million yuan. Other costs related to project construction amount to 4 million yuan. The basic reserve rate is 10%, and the working capital amount is 8 million yuan; therefore, the static investment for this project is X million yuan. A. 8948.5 B. 8140 C. 8940 D. 9748.5. To solve this problem, it is necessary to understand the components and classifications of investment, as well as the basis used for calculating the basic reserve. Firstly, construction investment can be divided into static investment and dynamic investment. Static investment consists of construction and installation costs, costs for purchasing equipment and tools, other expenses related to project construction, and a basic reserve fund. The basic contingency cost in this question is not given directly; it needs to be calculated using a formula: Basic Contingency Cost = (Cost of construction work + Cost of purchasing equipment and fixtures + Other costs related to project construction) × Basic Contingency Rate. Data such as price increase contingency funds, interest during the construction period, and working capital are misleading information and should not be included here. Static investment = (7000 400) * (1 + 10%) = 81.4 million yuan. 2. In accordance with the \"Code for Quantity Calculation and Pricing of Construction Projects\" (GB50500–2013), when project changes result in modifications to the construction plan and lead to changes in the measure items, the contractor, if wishing to adjust the costs associated with these measure items, must first submit such requests to the employer for approval. A. The proposed construction plan B. Notice of intention to file a claim C. Details of the additional costs to be requested D. Contents of the project changes 【Reference answer】A. This question examines the methods for determining the cost adjustments due to project changes. When a change in the project leads to modifications in the construction plan and changes in the various measures to be taken, if the contractor wishes to request an adjustment to the costs associated with these measures, he must first submit the proposed plan to the employer for approval, and must provide a detailed explanation of the changes compared to the measures specified in the original plan. It is common knowledge that, in order to adjust the costs related to measures, the contractor must submit a construction plan for approval by the employer; this is also mentioned several times in the textbooks – see paragraph 1 on page 246, the second-to-last paragraph on page 256, and paragraph 1 under section (II) on cost adjustments for measure items on page 268.