(November 20, 2025 @ 6pm ET) 40 Minutes of Competence CE Study Session: More Pay Applications!

This week's Amber Book: 40 Minutes of Competence program is titled, “More Pay Applications!”

Relevant Exam Division: Construction & Evaluation (CE)

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:

(Click here to see the image enlarged)

Refer to the exhibit.

A contractor submits an application for payment when the project is more than three-quarters of the way through construction. The construction contract requires that twice the estimated cost of punch list items be withheld and released upon final payment once all punch list work is complete. Retainage of 10% applies to both work completed and materials stored, and will be released at substantial completion. If the project is completed on budget with no change orders or revisions, and punch list items total $40,000, how much retainage should the contractor receive at substantial completion? Round to the nearest whole dollar.

A) $261,500

B) $293,500

C) $257,500

D) $221,500

(November 20, 2025 @ 6pm ET) 40 Minutes of Competence CE Study Session: More Pay Applications!

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