VA Contractors: General Exam Questions and Answers 2024

VA Contractors: General Exam Questions and Answers 2024 Which of the following estimating methods is typically used by the architect rather than the contractor? - CORRECT ANSWER-Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - CORRECT ANSWER-cost plus contract Equipment needs for a project are BEST estimated by... - CORRECT ANSWERCalculating the number of hours or days it is needed What type of insurance is needed for a partnership to insure that the business does NOT go out of business if one partner dies? - CORRECT ANSWER-Key man An owner hires a construction manager for a project. Which of the following is TRUE with regard to subcontractors? - CORRECT ANSWER-The subcontractors are prime contractors What protects a contractor from risk? - CORRECT ANSWER-Insurance