MHIC NASCLA Contractors Guide Questions With Complete Solutions.

How long does a claimant have to bring a claim against the guaranty fund? correct answer: 3 years from discovery of the loss or damage How many days does a contractor have to respond in writing to the copy of claim that was sent by the commission? correct answer: 10 days If within ________ after the commission gives notice , a contractor on whose amount a claim was paid does not reimburse the fund in full, the commission may sue the contractor for reimbursement. correct answer: 60 days In addtion to full reimbursement of the fund, a contractor is responsible to pay at least _________interest on the amount to reimburse. correct answer: 10 % The state can record a lien against any real property owners by the contractor for a debt owed to the fund correct answer: True If the commission pays a claim from the fund base on the actions or omissions of a contractor, the commission may suspend the contractors license until full reimbursement of the fund plus at least 10%interest correct answer: True A home improvement contract in compliance with the home improvement laws would include all of the following except correct answer: Names and license numbers of subcontractors A salesperson may not represent 2 contractors at the same time for the same project. correct answer: True Can a sales person legally accept money for themselves from the customer correct answer: No It is against the law for building and permits departments to issue a permit to contractor without the contractors license