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Louisiana Contractor's Exam - Business and Law Questions and Correct Answers with Rationales (2026/2027)

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This document contains questions and verified answers for Louisiana Contractor's Exam - Business and Law . It includes detailed explanations, revision-focused content, and exam preparation material suitable for 2026/2027 students.

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Louisiana Contractor's Exam -
Business and Law

$100.000 - ANS-Projects worth how tons require bonds underneath the Miller Act?

$50,000 - ANS-A contractor's license is needed when the residential mission is valued over
___

12 weeks - ANS-How many weeks are personnel entitled to below the Family Medical Leave
Act

20 weeks - ANS-Federal Unemployment tax have to be paid after an employee works ____
weeks

Bid bond
performance bond
fee bond - ANS-Types of surety bonds

Bid Bond - ANS-promise to complete the project for the bid rate and provide a overall
performance and fee bond.

Bid Shopping - ANS-What occurs when bids are revealed to create extra competition?

Liabilities/assets - ANS-What is the debt ratio?

Liquidity - ANS-belongings/liability is which ratio?

Payment bond - ANS-Promise that the employees, subcontractors and suppliers may be
paid

performance bond - ANS-promise that the undertaking might be finished w/within the
promised time and w/in spec.

Save you double taxation - ANS-What blessings does an S enterprise have?

Quantity take off technique - ANS-What is the most accurate method of estimate?

While signed - ANS-When is a settlement taken into consideration time-honored?

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  • louisiana business and law
  • 100000 ans projects worth how tons require bon
  • liquidity ans belongingsliability is which rati

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