Cmit Exams With Actual Correct Questions

1 | P a g e CMIT EXAMS WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED RATIONALES ANSWERS 2024(NEWEST) ALREADY GRADED A+ Under a GMP contract, with services provided by a CM-at-Risk, which of the following statements is NOT true? A) The GMP is usually established on less than 100% complete drawings and specifications. B) It is important that the phrase Guaranteed Maximum Price be clearly defined in the contract regarding what it includes and excludes. C) With a GMP type CM agreement, the CM is responsible for all costs associated with the project. D) Once a GMP for construction costs is established, the CM takes on the risk for completing the project. C) With a GMP type CM agreement, the CM is responsible for all costs associated with the project. Once the Guaranteed Maximum Price is established, the owner does not have to be concerned with managing costs or schedules. True False False Liquidated damages on a contract are included to compensate the owner for a delay in completing the work. True False True The owner can transfer risk to the CM and maintain a full agency relationship with the CM. True False False A CM under an agency relationship,