Schedule of Rates MCQ with answer and solution

Concept

Schedule of Rates definition and purpose

Formula

NONE

Step-by-step solution

1. Public works organizations periodically prepare an authorized compilation of itemized construction rates based on current market rate analysis. 2. This comprehensive document lists descriptions of all standard items of work alongside their unit rates. 3. This document is termed the Schedule of Rates (SOR). Answer: B

Explanation

A Schedule of Rates (SOR or DSR) is an official compilation published by public works authorities (e.g., CPWD or State PWDs) that contains detailed descriptions, standard specifications, and prevailing approved unit rates for various items of construction work, labor, and building materials.

Why the other options are wrong

A) A tender is an offer or bid submitted by a contractor to carry out work. C) Analysis of rates is the systematic calculation of the unit cost of an individual item based on inputs. D) An abstract estimate is the final summary document calculating the total projected expense of a specific project.

Shortcut

Detailed item descriptions + current unit rates = Schedule of Rates (SOR).

Common mistake

Confusing Schedule of Rates with Analysis of Rates (the cost breakdown calculation per unit) or an Abstract Estimate (the project total cost summary).