Free ASIS ASIS-PSP Practice Exam with Questions & Answers | Set: 12

The contingency fee in a bid package is typically set at 10% of the total project cost. This budgetary buffer accounts for unforeseen issues, changes, or risks that might arise during project execution. It is a standard practice in both construction and security system projects.

A (5%) may be insufficient.

C (15%) and D (20%) are considered excessive unless the project has high uncertainty.