CONTRACTORS LICENSE CERTIFICATION
EVALUATION QUESTIONS WITH
ACCURATE ANSWERS
●● Abatement/Mold Remediation License
Answer: requires a 4 hour course in "unfair trade practices and consumer
protection law".
●● If an employee requests their W2 from an employer after final wages
are paid...
Answer: The employer has 30 days to fulfill their request
●● OSHA requires employer's to post an annual summary of injuries and
illnesses.
Answer: No later than February 1st of each year.
●● OSHA Form 300 must be kept for a period of...
Answer: 5 years after which the form pertains.
●● Occupational License Taxes are required by...
Answer: Cities and Parishes
,●● executive summary
Answer: includes highlights of the business plan and is meant to gain
interest of the reader
●● Company Summary
Answer: the company vision and mission, legal structure, management
personnel, business location, and facilities
●● Products and Services
Answer: your specific products, primary subcontractors and suppliers,
and expansion opportunities
●● Market Analysis
Answer: your target market, trends and major competitors are defined
here
●● Market Strategy
Answer: the uniqueness of your product along with your pricing,
advertising, and promotional strategy
●● Financial Plan
Answer: Financial statements, balance sheet, income statement, and cash
flow statement
,●● Sole Proprietorship
Answer: a business owned and managed by a single individual
●● Partnership
Answer: A business in which two or more persons combine their assets
and skills
●● Limited Liability Corporation
Answer: a type of business with limited liability for the owners, with the
advantage of not paying corporate income tax
●● C Corporation
Answer: The most common type of corporation, which is a legal
business entity that offers limited liability to all of its owners, who are
called stockholders
●● S corporation
Answer: a form of corporation that avoids double taxation by passing
items of income, loss, deduction, and credits through to its shareholders
●● Joint Venture
Answer: an agreement between two or more companies to share a
business project
, ●● business License
Answer: protects the public from unqualified, inexperienced,
incompetent or unethical contractors
●● Licensing Authorities
Answer: conduct investigations and discipline problem contractors,
levee fines, and even revoke licenses
●● Louisiana Licensing Board
Answer: 15 members appointed by the governor and represent each
voting district.
●● Commercial Contract
Answer: license is required for $50,000 or more
●● Electrical and/or Mechanical Contract
Answer: License is required for $10,000 or more
●● Residential Contract
Answer: license is required for $75,000 or more
●● Abatement contract
Answer: license is required for $1 or more
EVALUATION QUESTIONS WITH
ACCURATE ANSWERS
●● Abatement/Mold Remediation License
Answer: requires a 4 hour course in "unfair trade practices and consumer
protection law".
●● If an employee requests their W2 from an employer after final wages
are paid...
Answer: The employer has 30 days to fulfill their request
●● OSHA requires employer's to post an annual summary of injuries and
illnesses.
Answer: No later than February 1st of each year.
●● OSHA Form 300 must be kept for a period of...
Answer: 5 years after which the form pertains.
●● Occupational License Taxes are required by...
Answer: Cities and Parishes
,●● executive summary
Answer: includes highlights of the business plan and is meant to gain
interest of the reader
●● Company Summary
Answer: the company vision and mission, legal structure, management
personnel, business location, and facilities
●● Products and Services
Answer: your specific products, primary subcontractors and suppliers,
and expansion opportunities
●● Market Analysis
Answer: your target market, trends and major competitors are defined
here
●● Market Strategy
Answer: the uniqueness of your product along with your pricing,
advertising, and promotional strategy
●● Financial Plan
Answer: Financial statements, balance sheet, income statement, and cash
flow statement
,●● Sole Proprietorship
Answer: a business owned and managed by a single individual
●● Partnership
Answer: A business in which two or more persons combine their assets
and skills
●● Limited Liability Corporation
Answer: a type of business with limited liability for the owners, with the
advantage of not paying corporate income tax
●● C Corporation
Answer: The most common type of corporation, which is a legal
business entity that offers limited liability to all of its owners, who are
called stockholders
●● S corporation
Answer: a form of corporation that avoids double taxation by passing
items of income, loss, deduction, and credits through to its shareholders
●● Joint Venture
Answer: an agreement between two or more companies to share a
business project
, ●● business License
Answer: protects the public from unqualified, inexperienced,
incompetent or unethical contractors
●● Licensing Authorities
Answer: conduct investigations and discipline problem contractors,
levee fines, and even revoke licenses
●● Louisiana Licensing Board
Answer: 15 members appointed by the governor and represent each
voting district.
●● Commercial Contract
Answer: license is required for $50,000 or more
●● Electrical and/or Mechanical Contract
Answer: License is required for $10,000 or more
●● Residential Contract
Answer: license is required for $75,000 or more
●● Abatement contract
Answer: license is required for $1 or more
