Nascla NC State Law
4 - 0 How do you manage Risk - ANSManage risk by adding provisions to a contract, safety
programs, operating procedures and GENERAL INSURANCE.
Put the following items to finish a concrete slab in the correct order - ANSScreed
Bull float
Power Trial
Final Finish
4-4 What does Commercial General Liability Cover (CGL) - ANSBasic Liability coverage - 4
types of injuries - BODILY injury actual physical damage or loss to individuals who are not
employees.; DAMAGE or loss to property not yours; Personal injury - slander or damage to
reputation; ADVERTISING injury - negligence in promotion.
What does Commercial General Liability NOT Cover (CGL) - ANSwind damage
employee injury
construction material lost
WHAT are the elements of a business Plan - ANSCover Page, Executive Summary,
Company Summary, Products and Summary, Market Analysis, Marketing Strategy, Financial
Plan
2-1 to 2-5 - WHAT are the types of Business Organizations - ANSSole Proprietorship,
Partnerships, C Corp, S Corp, LLC
2-4 WHAT type of business is Exempt from registering with the IRS and easiest to set up -
ANSSole Proprietorship
General partnerships exist as long as - ANSpartners remain
In a general partnership - ANSeach partner is totally liable for acts in the partnership
Disadvantage of a C corporation - ANSdouble taxation
WHAT is the purpose of the NC License Board for GC - ANSThe purpose is to safeguard the
life, health and property of the PUBLIC.
4-5 WHAT does a Business Owners Policy cover - ANSIt covers both Property and liability.
4 -7 What is Workers Comp Insurance - ANSWCI (workmans compensation) provides
coverage for employees injured on the job. ALL NC must have it if more than 3 employees
All subcontractors should provide a - ANScert. of insurance to protect the GC from being
liable for W/C premiums for the subs
, WCI Fraud - ANSincludes
-claims for injuries that do not exist
-injuries not job related
-falsely exaggerating injuries
-doctor exaggerating injuries or overcharging
-employer lying about payroll about job descriptions and number of employees
different types of bonds
specifically lien bond - ANS
Payment bond - ANSpays unpaid subs and material suppliers that completed work prior to
default
4-8 Which are the parties to a bond agreement - ANSThe surety company, the contractor
and project owner
4-8 What do bond language contain - ANSTOTAL dollar amount required for the bond,
LENGTH of the bond, REQUIREMENTS for notice of defect; BOND enforcement
4-10 What the reason for the Miller Act and who does it benefit - ANSRequires the
performance and payments of bonds on all federal construction projects valued greater than
$100k. It protects the subs for payment of work and supplies.
7-1 What should an estimator look at when bidding on a project - ANS-type of work
-SITE considerations
-COST EFFECTIVENESS
-RISK assessment
-PROFITABILITY
6 2 good logo design - ANS
7 2 bid rigging - ANS
7-4 What is one accurate method for estimating - ANSQUANTITY TAKE OFF METHOD -
You individually estimate units of material and labor for each task - then add sub fees, labor
burden, project OH, equipment, contingencies, allowances, company overhead and profit.
7 4 historical cost data - ANS
7 4 formula used to determine labor costs - ANS
Calculate total cost to purchase or lease a piece of heavy equipment based on this
cost- 10,000
salvage value- 2,000
rent- 300/month
Fuel cost- 400/month - ANS
4 - 0 How do you manage Risk - ANSManage risk by adding provisions to a contract, safety
programs, operating procedures and GENERAL INSURANCE.
Put the following items to finish a concrete slab in the correct order - ANSScreed
Bull float
Power Trial
Final Finish
4-4 What does Commercial General Liability Cover (CGL) - ANSBasic Liability coverage - 4
types of injuries - BODILY injury actual physical damage or loss to individuals who are not
employees.; DAMAGE or loss to property not yours; Personal injury - slander or damage to
reputation; ADVERTISING injury - negligence in promotion.
What does Commercial General Liability NOT Cover (CGL) - ANSwind damage
employee injury
construction material lost
WHAT are the elements of a business Plan - ANSCover Page, Executive Summary,
Company Summary, Products and Summary, Market Analysis, Marketing Strategy, Financial
Plan
2-1 to 2-5 - WHAT are the types of Business Organizations - ANSSole Proprietorship,
Partnerships, C Corp, S Corp, LLC
2-4 WHAT type of business is Exempt from registering with the IRS and easiest to set up -
ANSSole Proprietorship
General partnerships exist as long as - ANSpartners remain
In a general partnership - ANSeach partner is totally liable for acts in the partnership
Disadvantage of a C corporation - ANSdouble taxation
WHAT is the purpose of the NC License Board for GC - ANSThe purpose is to safeguard the
life, health and property of the PUBLIC.
4-5 WHAT does a Business Owners Policy cover - ANSIt covers both Property and liability.
4 -7 What is Workers Comp Insurance - ANSWCI (workmans compensation) provides
coverage for employees injured on the job. ALL NC must have it if more than 3 employees
All subcontractors should provide a - ANScert. of insurance to protect the GC from being
liable for W/C premiums for the subs
, WCI Fraud - ANSincludes
-claims for injuries that do not exist
-injuries not job related
-falsely exaggerating injuries
-doctor exaggerating injuries or overcharging
-employer lying about payroll about job descriptions and number of employees
different types of bonds
specifically lien bond - ANS
Payment bond - ANSpays unpaid subs and material suppliers that completed work prior to
default
4-8 Which are the parties to a bond agreement - ANSThe surety company, the contractor
and project owner
4-8 What do bond language contain - ANSTOTAL dollar amount required for the bond,
LENGTH of the bond, REQUIREMENTS for notice of defect; BOND enforcement
4-10 What the reason for the Miller Act and who does it benefit - ANSRequires the
performance and payments of bonds on all federal construction projects valued greater than
$100k. It protects the subs for payment of work and supplies.
7-1 What should an estimator look at when bidding on a project - ANS-type of work
-SITE considerations
-COST EFFECTIVENESS
-RISK assessment
-PROFITABILITY
6 2 good logo design - ANS
7 2 bid rigging - ANS
7-4 What is one accurate method for estimating - ANSQUANTITY TAKE OFF METHOD -
You individually estimate units of material and labor for each task - then add sub fees, labor
burden, project OH, equipment, contingencies, allowances, company overhead and profit.
7 4 historical cost data - ANS
7 4 formula used to determine labor costs - ANS
Calculate total cost to purchase or lease a piece of heavy equipment based on this
cost- 10,000
salvage value- 2,000
rent- 300/month
Fuel cost- 400/month - ANS
