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Fedor Frolov

January 07, 2024 02:46

Hello. 
Please check CE Test Question for discrepancy. 
Considering the Thoughts and logic in attached document.
Thank you.

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  NCARB January 08, 2024 18:02

  Hello Fedor.

  This item has been flagged and will be reviewed and revised as part of our update to practice exam at the end of February.

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  Clayton Artz March 31, 2024 20:53

  Fedor,

  When calculating 90% (work completed “This Period” + “Materials Presently Stored”), shouldn’t you exclude $21,073 for Sitework since retainage is no longer being collected once the Description of Work has reached 90%? It doesn’t make sense for the Owner to pay back the Contractor for all retainage from Sitework, but still collect 10% in retainage for Sitework completed this period. The question doesn’t tell us the specifics of agreement, but I would assume once the line item hits 90% completion and the Owner releases all retainage for this item, the retainage would stop all together for this line item for remainder of construction.

  My Calculation:

  1. 161,565 - 21,073 = 140,492
  2. 140,492 + 37,940 = 178,432
  3. 178,432 x 0.9 = 160,588.80
  4. 160,588.80 + 21,073 = 181,661.80 (Sitework completed “This Period” is added back on with no retainage)
  5. 181,661.80 + 11,348.30 = 193,010.10

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  Fedor Frolov April 01, 2024 00:23

  Hello. 
  Take a look on retainage column in table. Its amount for sitework item equals 11,348.30 which is 10% of 113,483 which is the sum of 21,073 and 92,410. So to have a 11,348 retainage you should also retain 10% of 21,073.

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