WV CONTRACTORS TEST PAPER ALL ANSWERS AND
QUESTIONS SET A+
✔✔A price estimate for performing a job has been compiled and total costs of the
project are $775,000. What will be the total bid of the company requires a 23%
MARKUP on all costs of the project?
a. $178,250
b. $630,081
c. $953,250
d. $1,006,494 - ✔✔c. $953,250
✔✔Which worker is NOT entitled to receive overtime wages?
a. Vice President
b. Job foreman
c. Laborer
d. Temporary worker - ✔✔a. Vice President
✔✔A contractor is issued a contractor license on May 1. When will the contractor
license expire?
a. April 30 each year
b. June 30 each year
c. July 1 each year
d. December 31 each year - ✔✔a. April 30 each year
✔✔What type of contract requires the builder to finance, initially own and operate the
project, and then finally transfer the project to the customer after it has recovered its
construction costs?
a. Traditional
b. Design Build
c. Turn Key
d. Concession - ✔✔d. Concession
✔✔How many hours can an employee work during a work week without being paid
overtime wages?
, a. 32
b. 40
c. 48
d. 56 - ✔✔b. 40
✔✔Which of the following statements is TRUE regarding a business general
partnership?
a. Partnerships are difficult to organize and complicated to maintain.
b. All general partners are fully responsible for the business actions of the other general
partners.
c. All proceeds from the business are taxed first at the company level, then passed
down to the individual partners.
d. Partnerships required that all proceeds from the business be divided equally among
partners. - ✔✔b. All general partners are fully responsible for the business actions of the
other general partners.
✔✔Which of the following contract documents would be seen as having more priority in
a contract dispute than the other documents?
a. General conditions
b. Technical specifications
c. Addendum
d. Change order - ✔✔d. Change order
✔✔If multiple liens are filed against the property owner on the same day, which lien
holder has priority?
a. The subcontractor that completed its work on March 31
b. The supplier that provided its building materials on April 15
c. The laborer that completed its work on April 22
d. The contractor that completed the project on May 1 - ✔✔b. The supplier that provided
its building materials on April 15
✔✔Which of the following statements is TRUE regarding a Limited Liability Company
(LLC)?
a. The owners are responsible for self-employment tax on all business proceeds earned
form the business.
b. The company is limited to maximum of 100 members (shareholders).
c. All company members (shareholders) are required to be U.S. Citizens.
d. All members are completely liable for debts and actions of the company. - ✔✔a. The
owners are responsible for self-employment tax on all business proceeds earned form
the business.
✔✔Where must liens be field in order to be properly recorded?
a. Federal court
b. State court
c. County court
QUESTIONS SET A+
✔✔A price estimate for performing a job has been compiled and total costs of the
project are $775,000. What will be the total bid of the company requires a 23%
MARKUP on all costs of the project?
a. $178,250
b. $630,081
c. $953,250
d. $1,006,494 - ✔✔c. $953,250
✔✔Which worker is NOT entitled to receive overtime wages?
a. Vice President
b. Job foreman
c. Laborer
d. Temporary worker - ✔✔a. Vice President
✔✔A contractor is issued a contractor license on May 1. When will the contractor
license expire?
a. April 30 each year
b. June 30 each year
c. July 1 each year
d. December 31 each year - ✔✔a. April 30 each year
✔✔What type of contract requires the builder to finance, initially own and operate the
project, and then finally transfer the project to the customer after it has recovered its
construction costs?
a. Traditional
b. Design Build
c. Turn Key
d. Concession - ✔✔d. Concession
✔✔How many hours can an employee work during a work week without being paid
overtime wages?
, a. 32
b. 40
c. 48
d. 56 - ✔✔b. 40
✔✔Which of the following statements is TRUE regarding a business general
partnership?
a. Partnerships are difficult to organize and complicated to maintain.
b. All general partners are fully responsible for the business actions of the other general
partners.
c. All proceeds from the business are taxed first at the company level, then passed
down to the individual partners.
d. Partnerships required that all proceeds from the business be divided equally among
partners. - ✔✔b. All general partners are fully responsible for the business actions of the
other general partners.
✔✔Which of the following contract documents would be seen as having more priority in
a contract dispute than the other documents?
a. General conditions
b. Technical specifications
c. Addendum
d. Change order - ✔✔d. Change order
✔✔If multiple liens are filed against the property owner on the same day, which lien
holder has priority?
a. The subcontractor that completed its work on March 31
b. The supplier that provided its building materials on April 15
c. The laborer that completed its work on April 22
d. The contractor that completed the project on May 1 - ✔✔b. The supplier that provided
its building materials on April 15
✔✔Which of the following statements is TRUE regarding a Limited Liability Company
(LLC)?
a. The owners are responsible for self-employment tax on all business proceeds earned
form the business.
b. The company is limited to maximum of 100 members (shareholders).
c. All company members (shareholders) are required to be U.S. Citizens.
d. All members are completely liable for debts and actions of the company. - ✔✔a. The
owners are responsible for self-employment tax on all business proceeds earned form
the business.
✔✔Where must liens be field in order to be properly recorded?
a. Federal court
b. State court
c. County court
