Contractor Practice Quiz Questions
EXAM QUESTIONS EXAMINATION
COMPLETE PRACTICE QUESTIONS
AND ANSWERS | VERIFIED
SOLUTIONS | UPDATED 2026/2027
STUDY GUIDE
When a change in business entity occurs (such as death
of sole proprietors/partners), how many days do you
have to return your old license to the Board and apply
for a new one? - CORRECT ANSWER -30 days
How many days does a business have to report a
change to the Qualified Individual? - CORRECT
ANSWER -45 days
,How many days does a business have to report a
change of managers, officers, or a designated
employee? - CORRECT ANSWER -120 days
How many days does a business entity have to report a
change of name or address to the Board? - CORRECT
ANSWER -30 days
What is the fee for a change of designated employee,
qualified individual or addition of a
classification/specialty? - CORRECT ANSWER -$110
What are the minimum requirements of a contract with
a contractor? - CORRECT ANSWER -a. When work is to
begin and the estimated completion date;
b. A statement of the total cost of the contract
c. A listing of specified materials and work to be
performed
d. A "plain-language" exculpatory clause concerning
events beyond the control of the contractor
, e. A statement of assurance that the contractor will
comply with all local requirements for building permits,
inspections, and zoning;
f. Disclosure of the cancellation rights of the parties;
h. Contractor's name, address, license number, class of
license, and classifications or specialty services;
i. A statement providing that any modification to the
contract, which changes the cost, materials, work to be
performed, or estimated completion date, must be in
writing and signed by all parties; and
j. Effective with all new contracts entered into after July
1, 2015, a statement notifying consumers of the
existence of the Virginia Contractor Transaction
Recovery Fund that includes information on how to
contact the board for claim information
How many days must work have ceased for it to qualify
as abandonment of a project? - CORRECT ANSWER -30
days or more
EXAM QUESTIONS EXAMINATION
COMPLETE PRACTICE QUESTIONS
AND ANSWERS | VERIFIED
SOLUTIONS | UPDATED 2026/2027
STUDY GUIDE
When a change in business entity occurs (such as death
of sole proprietors/partners), how many days do you
have to return your old license to the Board and apply
for a new one? - CORRECT ANSWER -30 days
How many days does a business have to report a
change to the Qualified Individual? - CORRECT
ANSWER -45 days
,How many days does a business have to report a
change of managers, officers, or a designated
employee? - CORRECT ANSWER -120 days
How many days does a business entity have to report a
change of name or address to the Board? - CORRECT
ANSWER -30 days
What is the fee for a change of designated employee,
qualified individual or addition of a
classification/specialty? - CORRECT ANSWER -$110
What are the minimum requirements of a contract with
a contractor? - CORRECT ANSWER -a. When work is to
begin and the estimated completion date;
b. A statement of the total cost of the contract
c. A listing of specified materials and work to be
performed
d. A "plain-language" exculpatory clause concerning
events beyond the control of the contractor
, e. A statement of assurance that the contractor will
comply with all local requirements for building permits,
inspections, and zoning;
f. Disclosure of the cancellation rights of the parties;
h. Contractor's name, address, license number, class of
license, and classifications or specialty services;
i. A statement providing that any modification to the
contract, which changes the cost, materials, work to be
performed, or estimated completion date, must be in
writing and signed by all parties; and
j. Effective with all new contracts entered into after July
1, 2015, a statement notifying consumers of the
existence of the Virginia Contractor Transaction
Recovery Fund that includes information on how to
contact the board for claim information
How many days must work have ceased for it to qualify
as abandonment of a project? - CORRECT ANSWER -30
days or more
