Nevada Estimating & Bidding
An accurate bid starts with correct quantities and the right profit math. This chapter covers the quantity takeoff and the difference between markup and margin.
The quantity takeoff
A quantity takeoff is the systematic measuring and counting of the materials and work quantities shown on the drawings and specifications, so each item can be priced. It is the foundation of an accurate estimate; errors in the takeoff flow straight through to the bid and can turn a profitable job into a loss.
Markup versus margin
Margin is profit measured as a share of the selling price, while markup is profit measured against cost. For a target margin, divide cost by (1 minus the margin): a job costing $80,000 at a 20% margin must be bid at $80,000 / 0.80 = $100,000. Simply adding 20% to cost gives only a 16.7% margin - the classic markup-versus-margin trap the exam sets.
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State-specific details
State exam facts
- State regulator
- Nevada State Contractors Board (NSCB)
- Prelicensing education
- Four years of relevant experience within the last fifteen years
- Passing score
- 75%
- Scored questions
- 60
- Time limit
- 120 minutes
Does Nevada require a state contractor license?
Yes. The Nevada State Contractors Board (NSCB) licenses contractors under NRS/NAC Chapter 624, using Class A (Engineering), Class B (Building), and Class C (specialty). The Board sets a monetary limit on each license, and the financial statement an applicant files depends on the limit sought (NAC 624.593): for $1,000,000 or more it must be reviewed or audited by a CPA.
What is on the Nevada Contractor Management Survey (CMS) exam?
The CMS Business & Law exam has 60 scored questions plus 3 unscored, runs 120 minutes plus 6 for the unscored questions, and requires 45 correct (75%) to pass. It is open book, and the only reference allowed is the Construction Business and Law Manual for Nevada. Applicants must show four years of relevant experience within the last fifteen years. A separate trade exam for the license classification is also required.
How does Nevada protect residential customers?
Nevada maintains a Residential Recovery Fund, and under NRS 108.245 a Notice of Right to Lien may be given at any time after first furnishing, but the lien then reaches only the 31 days before the notice and what follows. Nevada has no personal or corporate income tax but does impose the Modified Business Tax.
Sources: https://www.nvcontractorsboard.com, https://test-takers.psiexams.com/api/content/bulletin/296
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