(November 6, 2025 @ 6pm ET) 40 Minutes of Competence PcM Study Session: Problem Solving - An Expert’s Process for Answering ARE Questions

Join us for our interactive quiz-style 40 Minutes of Competence, where you'll compete against one of our team members to see who can answer the most ARE questions correctly. You may come away with helpful insights about these exams whether your answers are right or wrong.

Relevant Exam Division: Practice Management (PcM)

These study sessions are free and open to all, not just Amber Book subscribers, so join us this Thursday at 6pm ET: https://us02web.zoom.us/j/83922907346

You’ll take the first five minutes of class to answer this week's question alone, but if you would like to get a head-start on that, here is the assignment:

Refer to the exhibit.

In order to avoid problems on future fixed fee projects, an architecture firm is reviewing the financial results from their XYZ Apartments project. For XYZ, the firm originally projected 300 staff hours with an average cost of $125 per hour. Their consultant proposals for the project included $10,000 for structural engineering and $15,000 for mechanical/electrical engineering.

What practices should the firm incorporate to avoid problems on future projects? Check the four that apply.

A. Reduce the overhead factor for the project.

B. Include a contingency in their estimate of hours.

C. Monitor time spent during the project more closely.

D. Secure consultant fee proposals before submitting a fee to the client.

E. Ask the client for more money when the time spent runs over the estimate.

F. Include expenses as a reimbursable item rather than including them in the fee.