NCARB Project-Management Exam Dumps

A punch list is a document prepared near project completion that identifies incomplete or nonconforming work requiring correction before final payment. It ensures all parties agree on outstanding items and facilitates project closeout. Punch lists are a key concept in ARE 5.0 PjM related to construction phase closeout procedures.

Substantial completion means the project or a portion of it is sufficiently complete in accordance with the contract documents so that the owner can occupy or use the space for its intended purpose. Punch list work typically remains. It triggers warranty periods and changes in risk responsibility. ARE 5.0 PjM requires understanding of contract milestones.

The total compensation includes the portion of work completed up to termination. From the chart:

Schematic Design: 80% of $24,000 = $19,200

Design Development: 20% of $32,000 = $6,400

Total earned to date = $19,200 + $6,400 = $25,600

$5,000 has already been paid

So the total compensation for the project (earned) is $25,600

No additional work was completed after that, and termination fees were waived.

Therefore, total compensation = amount earned = $25,600

Answer choice C ($30,400) includes incorrect math.

The correct total compensation is:

Corrected Answer: B. $25,600.00

(However, if we assume the exam expects selection from available options closest to correct math and B was mistakenly labeled as $25,000, then C would be selected.)

Final Answer: B. $25,600.00 (if allowed to correct); otherwise, select C as closest estimate per question

AIA B101 9.6, 9.7 -- Compensation and Termination

NCARB ARE 5.0 Handbook -- PjM Content Area 1: Project Resource Management

Verified Answer

According to AIA Document B101 6.7, if the lowest bona fide bid or negotiated proposal exceeds the budget, the architect is required to make reasonable modifications to bring the cost in line with the budget --- at no additional compensation --- provided the architect's cost estimate was based on current market conditions.

* This clause ensures the architect takes responsibility for staying within budget expectations.

* Reference: AIA B101-2017 6.7

* NCARB ARE 5.0 Handbook -- PjM Content Area 2: Cost Estimating and Budgeting

Verified Answer

On private projects, if a subcontractor is not paid, they may file a mechanic's lien against the owner's property. This legal tool can delay or block sale or refinancing until the debt is settled. It is often the most effective method for securing payment on private projects.

* A mechanic's lien attaches to the property, putting legal and financial pressure on the owner to resolve the issue.

* This is more effective than a collection agency or contacting the surety (which applies only if there is a payment bond, usually on public projects).

* Reference: AIA A201 9.6.5

* NCARB ARE 5.0 Handbook -- PjM Content Area 5: Construction Phase Responsibilities