question 48\nselect the description that best matches the compensation method known as: hourly with…

question 48\nselect the description that best matches the compensation method known as: hourly with guaranteed maximum price.\na based on a fixed amount for each hour of work expended on the project.\nb based on a fixed amount for each hour expended on the project, except there is price given for a maximum number of hours anticipated by the architect/engineer to be expended.\nc based on a single, fixed stipulated amount for a predetermined and detailed scope of services.\nd all of the above.

question 48\nselect the description that best matches the compensation method known as: hourly with guaranteed maximum price.\na based on a fixed amount for each hour of work expended on the project.\nb based on a fixed amount for each hour expended on the project, except there is price given for a maximum number of hours anticipated by the architect/engineer to be expended.\nc based on a single, fixed stipulated amount for a predetermined and detailed scope of services.\nd all of the above.

Answer

Brief Explanations:

Hourly with Guaranteed Maximum Price means there is a fixed - rate per hour, but also a cap on the total price based on a maximum number of anticipated hours. Option A only mentions the fixed - rate per hour. Option C is a description of a fixed - fee for a scope of services, not the hourly with guaranteed maximum. Option B correctly describes the method where there is a fixed amount per hour and a price for a maximum number of hours.

Answer:

B. Based on a fixed amount for each hour expended on the project, except there is price given for a maximum number of hours anticipated by the architect/engineer to be expended.