NASCLA Business, Law and Project Management (Basic) - Practice Test

NASCLA Business, Law and Project Management (Basic) - Practice Test 1. The method recognizes income when the employer has done the work but has not received the income. A. Accrual B. Appreciation C. Depreciation D. Cash: Accrual 13-7 2. A bundles all cost factors for entire task. A. Lump sum B. Cost plus C. Percent completion method D. Unit price method: Unit price method 6-7 3. requires paying prevailing wages in federally-financed projects. A. Service Contract Act B. Walsh-Healey Act C. Wage Garnishment Law D. Davis-Bacon Act: Davis-Bacon Act 10-7 4. absolves the indemnified party from any payment for losses and damages incurred by a third party. A. Indemnification B. Delays and extensions of time C. Schedule acceleration D. Force majeure: Indemnification 7-4 5. An Emergency Action plan should include . A. Student's name B. Employer's name C. Administrator's name D. Next of kin: Administrator's Name 11-3 6. The MSDS provides for two main purposes: one purpose is product infor- mation; the other purpose is information. A. Substance B. Chemical C. Sequence of activities D. Emergency contact: Emergency contact 11-6 7. Having adequate technology strengths can NOT help an organization with . A. Estimating B. Purchasing C. Scheduling D. Vacationing: Vacationing 4-2 8. is an exclusion to an advantage of a sole proprietor. A. Limited personal responsibility B. Low startup costs C. Ownership of profits D. Decision making freedom: Limited personal responsibility 2-2 9. A bond guarantees that the contractor has paid the subcontractor. A. Bid B. Performance C. Payment D. Maintenance: Payment 3-7 10. determine the type of materials or methods used. A. Specifications B. Building codes C. References D. UL: Specifications 6-2 11. pays a worker when he or she is laid off. A. Worker's compensation B. Unemployment C. COBRA D. HIPAA: Unemployment 3-5 12. is relatively unimportant when naming a business. A. Impression of firm B. Trademark C. Service D. Location: Location 2-6 13. Technical specifications generally organized by MasterFormat classification. A. AIA B. EIE C. EEE D. CSI: CSI 7-9 14. A does NOT establish an employee's eligibility to legally work in the United States. A. U.S. Passport B. Social Security card C. Certificate of Naturalization D. Driver's License: Driver's License 10-13 15. If you are honest with a customer, can become realistic. A. Disappointment B. Expectations C. Unrealistic goals D. Frustration: Expectations 9-1 16. A (An) purchases workers' compensation insurance. A. Property owner B. Building contractor C. Employer D. Employee: Employer 10-11 17. A partnership . A. Is a relationship between two or more people. B. Has unlimited business life C. Does not dissolve in the event of a general partner