Quiz On Progress Payment

5 Questions

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Payment Quizzes & Trivia

This quiz contains 5 questions. Please choose the correct answers.


Questions and 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