CON 496 Petrie Questions With Complete Solutions
a change order typically requires agreement from the owner and
contractor. t or f Correct Answers true
A commercial general liability insurance policy will cover loss
or damage resulting from a contractors negligence. t or f
Correct Answers True
A competent contractor will use communication to control risk.
T or F Correct Answers True
A contract is not used to shift and allocate risk from the
construction. T or F Correct Answers False
a contractor can impress and secure a lien against public
property t or f Correct Answers false
A contractor does not have the right to secure payment through a
mechanics lien. t or f Correct Answers false
A contractor does not shift the risk from the project to its
subcontractors. T or F Correct Answers False
A contractor must issue a 20 day preliminary lien notice in order
to have lien rights on a project. t or f Correct Answers true
A corporation is operated by its Board of directors and officers
appointed by the board of directors. t or f Correct Answers true
, A cost-plus contract always has a guaranteed max price. t or f
Correct Answers False
A general construction company should not expect to purchase
and maintain commercial general liability insurance. T or F
Correct Answers False
A general contractor would always prefer having a pay-if-paid
provision as opposed to a pay-when-paid provision in the
subcontract agreement. T or f Correct Answers True
A LLC company can be managed by its members or managers. t
or f Correct Answers true
a LLC is formed by the filing of Articles of Organization. T or F
Correct Answers True
A pay if paid is always enforceable. t or f Correct Answers
false
A pay-when-paid provision deals with the timing of when a
subcontractor should expect to be paid by the general contractor.
t or f Correct Answers true
a payment bond is commonly required for public works
construction projects. t or f Correct Answers True
A pedestrian that wanders onto the project site and falls into an
open trench breaking his ribs should be covered by the GC's
commercial general liability insurance. t or f Correct Answers
true
a change order typically requires agreement from the owner and
contractor. t or f Correct Answers true
A commercial general liability insurance policy will cover loss
or damage resulting from a contractors negligence. t or f
Correct Answers True
A competent contractor will use communication to control risk.
T or F Correct Answers True
A contract is not used to shift and allocate risk from the
construction. T or F Correct Answers False
a contractor can impress and secure a lien against public
property t or f Correct Answers false
A contractor does not have the right to secure payment through a
mechanics lien. t or f Correct Answers false
A contractor does not shift the risk from the project to its
subcontractors. T or F Correct Answers False
A contractor must issue a 20 day preliminary lien notice in order
to have lien rights on a project. t or f Correct Answers true
A corporation is operated by its Board of directors and officers
appointed by the board of directors. t or f Correct Answers true
, A cost-plus contract always has a guaranteed max price. t or f
Correct Answers False
A general construction company should not expect to purchase
and maintain commercial general liability insurance. T or F
Correct Answers False
A general contractor would always prefer having a pay-if-paid
provision as opposed to a pay-when-paid provision in the
subcontract agreement. T or f Correct Answers True
A LLC company can be managed by its members or managers. t
or f Correct Answers true
a LLC is formed by the filing of Articles of Organization. T or F
Correct Answers True
A pay if paid is always enforceable. t or f Correct Answers
false
A pay-when-paid provision deals with the timing of when a
subcontractor should expect to be paid by the general contractor.
t or f Correct Answers true
a payment bond is commonly required for public works
construction projects. t or f Correct Answers True
A pedestrian that wanders onto the project site and falls into an
open trench breaking his ribs should be covered by the GC's
commercial general liability insurance. t or f Correct Answers
true
