MARYLAND HOME IMPROVEMENT EXAM QUESTIONS AND ANSWERS 100% CORRECT
Sales Person - ANSWER A person who sells home improvement contract Home Improvement contract - ANSWER An agreement between a homeowner and a contractor to perform a home improvement. Has to be in writing and be signed by both parties Owner - ANSWER An owner, Owner's agent, tenant or an authorized person A license - ANSWER Contractor or salesperson, issued by home improvement commission Years of experience has to be - ANSWER 2 years General liability insurance - ANSWER coverage that can protect you from a variety of claims, at least $50,000 Home Improvement Guaranty Fund - ANSWER The fund compensates homeowner for actual loss cause by the act or omission of a licensed contractor Actual Loss - ANSWER Homeowner may recover up to $20,000 per contract maximum amount can be awarded of a contractor is $100,000 Federal income tax - ANSWER based on information the employee provided on the W-4 form
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