Florida Building Contractor
Business/Finance FINAL Exam
QUESTIONS WITH CORRECT
SOLUTIONS||100% GUARANTEED
PASS||UPDATED 2026/2027
SYLLABUS||A+ GRADED||<<RECENT
VERSION>>
1. The deadline for filing this year's employee W-2's with the Social Security
Administration is: - ANSWER ✓ Feb 28
2. Workers compensation insurance covers injuries or illnesses: - ANSWER ✓
That are job related
33. The immigration reform and control act requires, that all employees hired on
or after Nov 7, 1986, must complete _________ to verify their employment
eligibility status. - ANSWER ✓ I-9
34. How does an employer obtain worker's compensation insurance? - ANSWER
✓ By purchasing a policy from an insurance agent
From the Joint Underwriting Association
By qualifying as an individual self-insured
An employer may contract with a professional employer organization that has
secured worker's comp
35. Employees must complete, file with the Social Security Administration and
furnish to their employees Form W-2, Wage and Tax Statement, showing the
wages paid and taxes withheld for the _______ for each employee. - ANSWER ✓
Year
, 36. An employee must be at least ____ years old to work in most non-farm jobs an
dat least ____ to work in non-farm jobs declared hazardous by the Secretary of
Labor. - ANSWER ✓ 16:18
37. What are the Penalties for contracting without a License in Florida? -
ANSWER ✓ First degree misdemeanor, with penalties of up to one year in jail and
a $1000 fine.
38. In the event that an employee quits without prior notice the contractor must
pay wages: - ANSWER ✓ In full, paid a the next regular pay period.
39. Who would be responsible if a building code violation was found after the
contract was completed? - ANSWER ✓ Contractor and architect
40. Under the accrual basis of accounting, revenues are reported in the accounting
period when the: - ANSWER ✓ Services or good have been delivered
41. When would an employee be required to complete a new IRS form for W-4? -
ANSWER ✓ A change in marital status
42. Which is found generally to be TRUE about construction contracts? -
ANSWER ✓ Specific provisions prevail over general provision
43. Are employees required to pay extra for weekend or night work? - ANSWER
✓ Depends on the agreement between the employer and employee
44. The ________ guarantees both job completion and payment of sub-contractors
and suppliers? - ANSWER ✓ Contract bond or surety bond
45. Written documents issued after the execution of a contract, which alter
contract documents by additions, deletions, or corrections, are known as: -
ANSWER ✓ Addenda
46. The most important factor with respect to a schedule of payments is: -
ANSWER ✓ Amount
47. Which improvements does not require a building permit? - ANSWER ✓
Painting and wallpaper hanging
Business/Finance FINAL Exam
QUESTIONS WITH CORRECT
SOLUTIONS||100% GUARANTEED
PASS||UPDATED 2026/2027
SYLLABUS||A+ GRADED||<<RECENT
VERSION>>
1. The deadline for filing this year's employee W-2's with the Social Security
Administration is: - ANSWER ✓ Feb 28
2. Workers compensation insurance covers injuries or illnesses: - ANSWER ✓
That are job related
33. The immigration reform and control act requires, that all employees hired on
or after Nov 7, 1986, must complete _________ to verify their employment
eligibility status. - ANSWER ✓ I-9
34. How does an employer obtain worker's compensation insurance? - ANSWER
✓ By purchasing a policy from an insurance agent
From the Joint Underwriting Association
By qualifying as an individual self-insured
An employer may contract with a professional employer organization that has
secured worker's comp
35. Employees must complete, file with the Social Security Administration and
furnish to their employees Form W-2, Wage and Tax Statement, showing the
wages paid and taxes withheld for the _______ for each employee. - ANSWER ✓
Year
, 36. An employee must be at least ____ years old to work in most non-farm jobs an
dat least ____ to work in non-farm jobs declared hazardous by the Secretary of
Labor. - ANSWER ✓ 16:18
37. What are the Penalties for contracting without a License in Florida? -
ANSWER ✓ First degree misdemeanor, with penalties of up to one year in jail and
a $1000 fine.
38. In the event that an employee quits without prior notice the contractor must
pay wages: - ANSWER ✓ In full, paid a the next regular pay period.
39. Who would be responsible if a building code violation was found after the
contract was completed? - ANSWER ✓ Contractor and architect
40. Under the accrual basis of accounting, revenues are reported in the accounting
period when the: - ANSWER ✓ Services or good have been delivered
41. When would an employee be required to complete a new IRS form for W-4? -
ANSWER ✓ A change in marital status
42. Which is found generally to be TRUE about construction contracts? -
ANSWER ✓ Specific provisions prevail over general provision
43. Are employees required to pay extra for weekend or night work? - ANSWER
✓ Depends on the agreement between the employer and employee
44. The ________ guarantees both job completion and payment of sub-contractors
and suppliers? - ANSWER ✓ Contract bond or surety bond
45. Written documents issued after the execution of a contract, which alter
contract documents by additions, deletions, or corrections, are known as: -
ANSWER ✓ Addenda
46. The most important factor with respect to a schedule of payments is: -
ANSWER ✓ Amount
47. Which improvements does not require a building permit? - ANSWER ✓
Painting and wallpaper hanging
