Page |1
BCN 3740 - Midterm 2022 Questions and
Correct Answers/ Latest Update / Already
Graded
In order to protect marital assets a married couple's banking account
should be held as a
Ans: Joint Tenancy by the entireties
A licensed contractor must, in order to conduct business in Florida
must have
Ans: An Occupational License
An individual shareholder who holds 10% of all stocks in the
corporation and holds all officer positions in said corporation is
Ans: Both,
-Is not personally liable
-Limited in his/her responsibility to the extent of his/her
investment in the corporation
A corporation which calls itself anything other than its official name, as
registered with the State of Florida, is
Ans: Is said to be doing business under a fictitious name
All rights reserved © 2025/ 2026 |
, Page |2
An individual acting on behalf of a corporation
Ans: Both,
-If doing so without authority shall be personally liable for all
the debts and liabilities incurred.
- May be individually liable for fraud even though he or she was
acting as an officer of the corporation.
A certified building contractor may only
Ans: Be limited to residential or commercial structures not
exceeding three or more stories in height
An individual applying for licensure must
Ans: Both,
-Show good moral character.
-Show financial responsibility.
A certified contractor may
All rights reserved © 2025/ 2026 |
BCN 3740 - Midterm 2022 Questions and
Correct Answers/ Latest Update / Already
Graded
In order to protect marital assets a married couple's banking account
should be held as a
Ans: Joint Tenancy by the entireties
A licensed contractor must, in order to conduct business in Florida
must have
Ans: An Occupational License
An individual shareholder who holds 10% of all stocks in the
corporation and holds all officer positions in said corporation is
Ans: Both,
-Is not personally liable
-Limited in his/her responsibility to the extent of his/her
investment in the corporation
A corporation which calls itself anything other than its official name, as
registered with the State of Florida, is
Ans: Is said to be doing business under a fictitious name
All rights reserved © 2025/ 2026 |
, Page |2
An individual acting on behalf of a corporation
Ans: Both,
-If doing so without authority shall be personally liable for all
the debts and liabilities incurred.
- May be individually liable for fraud even though he or she was
acting as an officer of the corporation.
A certified building contractor may only
Ans: Be limited to residential or commercial structures not
exceeding three or more stories in height
An individual applying for licensure must
Ans: Both,
-Show good moral character.
-Show financial responsibility.
A certified contractor may
All rights reserved © 2025/ 2026 |
