Full Business and Law Practice Exam.
A major purpose of licensing is to: Protect the health, safety, and welfare of the public (3-1)
Where should a general contractor's license be displayed? At the licensee's place of business (3-2)
The state of North Carolina requires you must have a $40,000 (3-2)
Contractor's License if the dollar amount of the
construction cost exceeds:
John Smith inherited some money and quit his job. He has Incorrectly - If you plan to resell a home within one year you must have a builder
decided to build a house for him and his family that they license (3-2)
plan to sell within 1 year of completion. His potential cost
estimate is $565,000. At this time he is waiting on his
building permit so he can begin construction. How has he
proceeded?
Retake period for contractor's exam 30 days after the previous attempt (3-2)
North Carolina defines a general contractor as a person or $40,000 (3-2)
firm or corporation who enters into construction contracts
in the amount of at least?
Cost of limited license application $75 (3-2)
Address change reporting period 30 days (3-2)
Does a subcontractor need a license if they are working No (3-2)
under the supervision of a prime or general contractor?
If an applicant is unable to meet the working capital Present a surety bond (3-3)
requirements they can?
If a surety bond was used to secure a license and that The applicant must provide written proof of financial responsibility within thirty days
bond is canceled? or the license will be suspended. (3-3)
North Carolina contractor licenses expire annually on 60 (3-3)
January 1st. If the license is not renewed within ___ days
following expiration, it becomes invalid.
Fee to renew Intermediate license $100 (3-3)
Once a contractor's license expires, what is the period of 4 Years (3-4)
time before the contractor has to repeat the entire license
application process again?
, Full Business and Law Practice Exam.
Purpose of mechanics'/materialmen's lien To attach property to help suppliers and subcontractors to collect monies due (16-1)
For the purpose of lien law, who is considered to be in The general contractor (16-1)
direct contract with the owner of the property?
Within _____ days of the building permit issuance, the 30 days (16-2)
general contractor can file a notice of contract with the
office of the clerk of superior court. The notice must be
posted on the property in a visible location adjacent to the
posted building permit.
What is not required on a notice of contract? Date of permit issuance (16-2)
A lien must be filed within ____ days of providing the last 120 days (16-6)
labor or materials?
A lien must be foreclosed by commencement of a lawsuit 180 days (16-6)
within ______ days?
How often do Contractor Licenses expire in North Annually (E-1)
Carolina?
A non-licensed contractor has hired a licensed Contractor Revoke the license of the 'licensed contractor'. (E-1)
to pull permits and supervise the work under the permits.
In this scenario, the board could invoke what penalty?
How many members make up the North Carolina licensing 9 Members (E-4)
board?
Who appoints the members on the licensing board? State Governor (E-4)
How long is the term period for the members on the 5 years (E-4)
licensing board?
What is the minimum amount of times the North Carolina 2 (E-4)
Licensing Board for General Contractors meets each year?
How many members of the board are required to have a 5 members (E-4)
quorum?
If the qualifier ceases to be connected to a licensee how 90 days (E-7)
long will the license remain in effect without a new
qualifier?
For ninety days after the qualifier leaves the licensee, the Shall not bid or undertake any additional contracts until the qualifier is replaced. (E-
licensee shall or shall not do what? 7)
A major purpose of licensing is to: Protect the health, safety, and welfare of the public (3-1)
Where should a general contractor's license be displayed? At the licensee's place of business (3-2)
The state of North Carolina requires you must have a $40,000 (3-2)
Contractor's License if the dollar amount of the
construction cost exceeds:
John Smith inherited some money and quit his job. He has Incorrectly - If you plan to resell a home within one year you must have a builder
decided to build a house for him and his family that they license (3-2)
plan to sell within 1 year of completion. His potential cost
estimate is $565,000. At this time he is waiting on his
building permit so he can begin construction. How has he
proceeded?
Retake period for contractor's exam 30 days after the previous attempt (3-2)
North Carolina defines a general contractor as a person or $40,000 (3-2)
firm or corporation who enters into construction contracts
in the amount of at least?
Cost of limited license application $75 (3-2)
Address change reporting period 30 days (3-2)
Does a subcontractor need a license if they are working No (3-2)
under the supervision of a prime or general contractor?
If an applicant is unable to meet the working capital Present a surety bond (3-3)
requirements they can?
If a surety bond was used to secure a license and that The applicant must provide written proof of financial responsibility within thirty days
bond is canceled? or the license will be suspended. (3-3)
North Carolina contractor licenses expire annually on 60 (3-3)
January 1st. If the license is not renewed within ___ days
following expiration, it becomes invalid.
Fee to renew Intermediate license $100 (3-3)
Once a contractor's license expires, what is the period of 4 Years (3-4)
time before the contractor has to repeat the entire license
application process again?
, Full Business and Law Practice Exam.
Purpose of mechanics'/materialmen's lien To attach property to help suppliers and subcontractors to collect monies due (16-1)
For the purpose of lien law, who is considered to be in The general contractor (16-1)
direct contract with the owner of the property?
Within _____ days of the building permit issuance, the 30 days (16-2)
general contractor can file a notice of contract with the
office of the clerk of superior court. The notice must be
posted on the property in a visible location adjacent to the
posted building permit.
What is not required on a notice of contract? Date of permit issuance (16-2)
A lien must be filed within ____ days of providing the last 120 days (16-6)
labor or materials?
A lien must be foreclosed by commencement of a lawsuit 180 days (16-6)
within ______ days?
How often do Contractor Licenses expire in North Annually (E-1)
Carolina?
A non-licensed contractor has hired a licensed Contractor Revoke the license of the 'licensed contractor'. (E-1)
to pull permits and supervise the work under the permits.
In this scenario, the board could invoke what penalty?
How many members make up the North Carolina licensing 9 Members (E-4)
board?
Who appoints the members on the licensing board? State Governor (E-4)
How long is the term period for the members on the 5 years (E-4)
licensing board?
What is the minimum amount of times the North Carolina 2 (E-4)
Licensing Board for General Contractors meets each year?
How many members of the board are required to have a 5 members (E-4)
quorum?
If the qualifier ceases to be connected to a licensee how 90 days (E-7)
long will the license remain in effect without a new
qualifier?
For ninety days after the qualifier leaves the licensee, the Shall not bid or undertake any additional contracts until the qualifier is replaced. (E-
licensee shall or shall not do what? 7)
