VA CONTRACTOR GENERAL FINAL PAPER
EXAM SCRIPT WITH CORRECT ANSWERS
2026
● An agreement that calls for a contractor to be paid actual costs for
labor and materials plus a fixed fee for the contractor's overhead and
profit is called a... Answer: cost plus contract
● Equipment needs for a project are BEST estimated by... Answer:
Calculating the number of hours or days it is needed
● What type of insurance is needed for a partnership to insure that the
business does NOT go out of business if one partner dies? Answer: Key
man
● An owner hires a construction manager for a project. Which of the
following is TRUE with regard to subcontractors? Answer: The
subcontractors are prime contractors
● What protects a contractor from risk? Answer: Insurance
, ● An ADVANTAGE of a Critical Path Method (CPM) schedule is it...
Answer: Identifies activities that MUST be completed before other
activities can occur
● What may be covered by an allowance in a contract? Answer: Light
fixture costs
● Which of the following is considered ethical behavior? Answer:
Failing to disclose one subcontractor's bid to another
● Compensation paid to independent contractors is reported on Form...
Answer: 1099
● The BEST business practice for special-ordered materials is to...
Answer: put the order requirements in writing
● A contract refers to an insurance agreement that the contractor is
REQUIRED to have. This is considered... Answer: Part of the contract
● Records of an employee's exposure to hazardous materials MUST be
kept a MINIMUM of how many years? Answer: 30 years
● AT LEAST how often should employees watch for possible hazards at
the job site? Answer: constantly
EXAM SCRIPT WITH CORRECT ANSWERS
2026
● An agreement that calls for a contractor to be paid actual costs for
labor and materials plus a fixed fee for the contractor's overhead and
profit is called a... Answer: cost plus contract
● Equipment needs for a project are BEST estimated by... Answer:
Calculating the number of hours or days it is needed
● What type of insurance is needed for a partnership to insure that the
business does NOT go out of business if one partner dies? Answer: Key
man
● An owner hires a construction manager for a project. Which of the
following is TRUE with regard to subcontractors? Answer: The
subcontractors are prime contractors
● What protects a contractor from risk? Answer: Insurance
, ● An ADVANTAGE of a Critical Path Method (CPM) schedule is it...
Answer: Identifies activities that MUST be completed before other
activities can occur
● What may be covered by an allowance in a contract? Answer: Light
fixture costs
● Which of the following is considered ethical behavior? Answer:
Failing to disclose one subcontractor's bid to another
● Compensation paid to independent contractors is reported on Form...
Answer: 1099
● The BEST business practice for special-ordered materials is to...
Answer: put the order requirements in writing
● A contract refers to an insurance agreement that the contractor is
REQUIRED to have. This is considered... Answer: Part of the contract
● Records of an employee's exposure to hazardous materials MUST be
kept a MINIMUM of how many years? Answer: 30 years
● AT LEAST how often should employees watch for possible hazards at
the job site? Answer: constantly
