Virginia Contractor Practice Test |25| questions solved 100% verified

Virginia Contractor Practice Test |25| questions solved 100% verified What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? -Correct Answer-$500 fine. Which of the following is a requirement for a joint venture? -Correct Answer-Either the joint venture or each contracting party of the joint venture must be licensed. The application for licensure MUST include -Correct Answer-the business address of the proposed designated employee. All Class A contractor licensure applications MUST include -Correct Answer-information on the knowledge, skills, and abilities of the applicant. When a claimant is paid funds from the Contractors Recovery Trust Fund -Correct Answer-the contractor's license is revoked. All of the following must be licensed EXCEPT -Correct Answer-a material supplier who advises a contractor. What is the PRIMARY purpose of licensing? -Correct Answer-Protect the health and welfare of the public. A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of -Correct Answer-$15,000. A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? -Correct Answer-30 days. According to the Board Rules and Regulations, which of the following could be a qualified individual? -Correct Answer-Any full-time employee. How much is the Class A i