Virginia practice exam questions & Answers graded A+

Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within a MINIMUM of how many days from when the assessment fee notice was mailed? - ANSWER-45 days An appeal of a final decision of a county on an erosion control plan MUST be filed with a MAXIMUM of how many days? - ANSWER-30 days All Class A contractor licensure applications MUST include: - ANSWER-Information on the knowledge, skills, abilities of the applicant When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER-The contractors license is revoked Which of the following is a requirement for a joint venture? - ANSWER-Either the joint venture or each contracting party of joint venture must be licensed Contractors will be assessed a fee for the Transaction Recovery Fund whenever the Fund balance is less than - ANSWER-$400,000 according to the board rules and regulations, which if the following could be a qualified individual - ANSWER-Any full-time employee A verified claim for the payment from the Transaction Recovery Fund MUST occur within a MAXIMUM of what period of time from the date the claimant was awarded a final judgement - ANSWER-12 months A contract for which of the following types of structures may be subject to recovery from the Transaction Recovery Fund - ANSWER-Residential only