Louisiana Contractor’s Exam Business
and Law – Study Guide Questions and
Answers|| LATEST UPDATE 2026
Bid Shopping -CORRECTANSWER What occurs when bids are revealed to create
more competition?
prevent double taxation -CORRECTANSWER What benefits does an S corporation
have?
12 weeks -CORRECTANSWER How many weeks are employees entitled to under the
Family Medical Leave Act
20 weeks -CORRECTANSWER Federal Unemployment tax must be paid after an
employee works ____ weeks
liabilities/assets -CORRECTANSWER What is the debt ratio?
$50,000 -CORRECTANSWER A contractor's license is needed when the residential
project is valued over ___
when signed -CORRECTANSWER When is a contract considered accepted?
and Law – Study Guide Questions and
Answers|| LATEST UPDATE 2026
Bid Shopping -CORRECTANSWER What occurs when bids are revealed to create
more competition?
prevent double taxation -CORRECTANSWER What benefits does an S corporation
have?
12 weeks -CORRECTANSWER How many weeks are employees entitled to under the
Family Medical Leave Act
20 weeks -CORRECTANSWER Federal Unemployment tax must be paid after an
employee works ____ weeks
liabilities/assets -CORRECTANSWER What is the debt ratio?
$50,000 -CORRECTANSWER A contractor's license is needed when the residential
project is valued over ___
when signed -CORRECTANSWER When is a contract considered accepted?
