Business Exam Questions with correct Answers

A designated employee should be? - ANSWER-At least 18 yrs old, full time employee, has passed required examination What is the initial Recovery Fund Fee? - ANSWER-$25 A contractor does not notify a change of address and os does not receive a timely Notice of Renewal. Who is responsible when the contractor does not renew his license on time? - ANSWER-The licensed Contractor If a contractor earns more than $ per yr, then the contractor requires a Class A license. - ANSWER-$750,000 If a contract awards more than $ per project, the contractor requires a Class A license. - ANSWER-$120,000 An erosion control conservation plan needs to be approved within ----- days. - ANSWER-60 days Where do you go to file an appeal of a violation to the USBC provision? - ANSWER-To the LBBCA A contractor is required to submit a renewal within ---- days of the expiration date? - ANSWER-30 days Who can file a complaint against a contractor(Under the Recovery Fund)? - ANSWER-Owner What is required when changing the form of entity from a sole proprietorship to corporation? - ANSWER-A New License