Quiz On Progress Payment
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This quiz contains 5 questions. Please choose the correct answers.
- 1.Progress Payments are payments made based on the cost incurred by the contractors as work progresses under the contract.
- A.
True
- B.
False
- 2.How to make sure that the work is done as it is claimed in Progress Payment?
- A.
Its is stated in the a written form to the owner.
- B.
The form is written to the owner with the architect's certification .
- C.
The form is written to the owner with the contractor's certification.
- D.
The form is written to the owner with the consultant's certification.
- 3.What are the importance of payment in construction industry?
- A.
Unlike many other industries, the duration of construction projects are relatively long
- B.
The size of each construction is relatively large and each progress payment sum involved are often relatively large.
- C.
Payment terms are usually on credit rather than payment on delivery.
- 4.In Malaysia, what is the CIPA stands for?
- A.
Construction Industry Progress Acts
- B.
Construction Industry Payment and Adjudication Acts
- C.
Construction Industry Payment Acts
- D.
Construction Industry Progress and Payment Acts
- 5.There are two types of payment schedule established for construction contract. One of the type is:
- A.
A Unit Price Payment Schedule
- B.
Monthly Payment Schedule
- C.
Percentage Payment Schedule
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