NASCLA Contractor's Guide Questions with 100% Correct Answers

NASCLA Contractor's Guide Questions with 100% Correct Answers ________ is the simplest method of providing temporary support for an existing building. - Shoring - Principles and Practices of Commercial Const pg 104 _________ insurance will protect against movable machinery left at the location or while being transported. - Equipment Floater 1099 Requirements - Reporting payments of $600 or more to independent contractors 3 elements of a business plan - -cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan 3 types of construction contracts - lump sum unit price cost plus 3 types of scheduling methods - calendar bar chart critical path A _____ bond promises the person building will complete the job for the amount quoted, will sign the agreement and will provide _____ and _____ bond. - Bid bond, Performance and Payment - Bus Law & Proj Mgmt pg 4-8 A ______ bond guarantees the owner that the contract work will be completed according to its terms including price and time. - Performance bond - Bus Law & Proj Mgmt pg 4-8 A _______ bond promises to subcontractors and vendors they will be compensated for their efforts and materials. - Payment bond - Bus Law & Proj Mgmt pg 4-9 A crucial drawback of a ________ is double taxation. - C Corp A subcontractor bond does what? - it protects the GC in the event that the sub does not fully perform the contract a written agreement between the owner and contractor to change the contract - change order