MI BUIDERS LICENSE – INSURANCE, BONDS, LIENS EXAM QUESTIONS AND CORRECTLY VERIFIED ANSWERS 100% PASS

MI BUIDERS LICENSE – INSURANCE, BONDS, LIENS EXAM QUESTIONS AND CORRECTLY VERIFIED ANSWERS 100% PASS MI BUIDERS LICENSE – INSURANCE, BONDS, LIENS EXAM QUESTIONS AND CORRECTLY VERIFIED ANSWERS 100% PASS MI Builders License - Insurance, bonds, liens Who provides liability insurance? Subcontractor Who provides workers compensation insurance? Subcontractor Who provides automobile insurance for company vehicles? Subcontractor Which type of bond does the contractor guarantee they will perform the scope of work, usually has a security dollar amount? Bid Which type of bid bond does the contractor lose the entire bond to the owner of the contractor defaults? Liquidated damages Which type of bid bond does the contractor have to pay the next lowest bid the bond difference if they default? Difference in price Which type of bond guarantees that the contractor will complete the project for the estimated sum? Performance