FLORIDA BUSINESS AND FINANCE
PRACTICE TEST QUESTIONS AND ANSWERS
| COMPLETE EXAM PREP GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, The subcontractor agrees that all work shall be done subject Answer: C. A & B are correct - AIA 401.4.2.5
to the final approval of the ______________________. A. architect B.
contractor C. both A & B are correct D. none of the above
Which of the following is NOT exempt from chapter 489? A. Answer B. Owners of property $85,000 - CM 2-63 489.103 Limit is $75,000.
An employee of a licensee who is subordinate of a
construction licensee acting within the scope. B. Owners of a
property with a cost of $85,000. C. Contractors in work on
bridges and roads. D. Anybody doing work of a minor nature -
less $1,000 or less.
The architect has the sole responsibility for ordering Answer: C. any minor change in work - AIA 201 7.1.2
__________________. A. Change orders B. Construction change
directives C. any minor change of work D. any changes
whatsoever
When considering the location of your office, which of the Answer: B. Demographic Makeup - CM 1-15
following is not a consideration? A. Zoning Ordinances B.
Demographic makeup of community C. Building Permits D.
Flood Prone Area Maps
The bonding cost for a class "B" contract of $900,000 will cost Answer: C. $12,500 CM 4-18 Graduated scale: 1st- 100x25%+ 2,500 2nd 400 x15%+ 6,000
________________. A. $9,000 B. $10,000 C. $12,500 D. $22,500 3rd 400x 10%=4,000 Total $12,500
A project is to be considered abandoned after _________ days if Answer D. 90 - CM 2-96 , 489.129.1.j
the contractor just terminates the project without notification
to the owner and without cause. A. 30 B. 60 C. 45 D. 90
If, at the end of a quarter, a contractor's total FUTA tax is $150, Answer: A. Add the tax for the next quarter - CM 3-183
the contractor _____________________. A. may add the tax to the
amount for deposit for the next quarter B. must deposit the tax
during the 1st month after the quarter. C. must deposit the tax
during the 2nd month after the quarter D. must deposit the tax
during the 3rd month after the quarter.
PRACTICE TEST QUESTIONS AND ANSWERS
| COMPLETE EXAM PREP GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, The subcontractor agrees that all work shall be done subject Answer: C. A & B are correct - AIA 401.4.2.5
to the final approval of the ______________________. A. architect B.
contractor C. both A & B are correct D. none of the above
Which of the following is NOT exempt from chapter 489? A. Answer B. Owners of property $85,000 - CM 2-63 489.103 Limit is $75,000.
An employee of a licensee who is subordinate of a
construction licensee acting within the scope. B. Owners of a
property with a cost of $85,000. C. Contractors in work on
bridges and roads. D. Anybody doing work of a minor nature -
less $1,000 or less.
The architect has the sole responsibility for ordering Answer: C. any minor change in work - AIA 201 7.1.2
__________________. A. Change orders B. Construction change
directives C. any minor change of work D. any changes
whatsoever
When considering the location of your office, which of the Answer: B. Demographic Makeup - CM 1-15
following is not a consideration? A. Zoning Ordinances B.
Demographic makeup of community C. Building Permits D.
Flood Prone Area Maps
The bonding cost for a class "B" contract of $900,000 will cost Answer: C. $12,500 CM 4-18 Graduated scale: 1st- 100x25%+ 2,500 2nd 400 x15%+ 6,000
________________. A. $9,000 B. $10,000 C. $12,500 D. $22,500 3rd 400x 10%=4,000 Total $12,500
A project is to be considered abandoned after _________ days if Answer D. 90 - CM 2-96 , 489.129.1.j
the contractor just terminates the project without notification
to the owner and without cause. A. 30 B. 60 C. 45 D. 90
If, at the end of a quarter, a contractor's total FUTA tax is $150, Answer: A. Add the tax for the next quarter - CM 3-183
the contractor _____________________. A. may add the tax to the
amount for deposit for the next quarter B. must deposit the tax
during the 1st month after the quarter. C. must deposit the tax
during the 2nd month after the quarter D. must deposit the tax
during the 3rd month after the quarter.
