Florida Business and Finance Practice
Test Questions and Answers Rated A+
A building inspection may be denied, according to Contractors Manual, for lack of
_____________________. A. an authorized contractor's agent on the job B. a recorded
Notice of Commencement posted on the job site C. an inspection box provided to
protect job documents D. notification to the owner of the pending inspection. -
ANSWER-Answer: B. a recorded Notice of Commencement posted on the job site. - CM
9-77 713.135.1.d
A contractor must serve a copy fo the claim of lien on the owner and lender (if any)
within how many days of the date the claim of lien is recorded? A. 15 B. 30 C. 60 D. 90 -
ANSWER-Answer: A. 15 CM 9-30
A contractor who receives, as initial payment, money totaling more than 10% of the
contract price for any repairs, restoration, improvement, or construction to residential
real property must apply for permits within ____ days? A. 7 B. 10 C. 30 D. 45 -
ANSWER-Answer: B. 10 CM 2-90 INDEX/LICENSING/MONEY RECEIVED
A non-union contractor is considering the possibilities of a collective union bargaining
agreement with the union. What amount of support will the contractor need from
employees? A. 10% of employees B. 20% of employees C. Majority status of
employees D. Not required to have the support of employees. - ANSWER-Answer: D -
Not required to have support of employees. CM 5-14 INDEX/ACTS/LMRA
A person may engage in business under a fictitious name by registering the name with
the _______________. A. Construction Licensing Board B. Division of Corporations C.
Dept of Business and Professional Regulation D. Florida Dept of Sales Tax Division -
ANSWER-Answer: B. Divisions of Corporations - CM 1-15
A project is to be considered abandoned after _________ days if the contractor just
terminates the project without notification to the owner and without cause. A. 30 B. 60
C. 45 D. 90 - ANSWER-Answer D. 90 - CM 2-96 , 489.129.1.j
A qualifying agent for a business organization ___________ A. must notify the
Construction Licensing board of any change of status within 90 days. B. is not legally
qualified to act for the business in all matters connected with contracting. C. must notify
the Dept of Business Regulations of any change of status within 90 days D. is legally
qualified to act for the business in all matters connected with contracting. - ANSWER-
Answer: D. is legally qualified to act for the business in all matters connected with
contracting. - CM 2-22 489.1195.a INDEX/LICENSING/QUALIFIER
A secondary qualifying agent is responsible for ______________________. A. the
financial matters of the company B. the supervision of field work at sites where the
, agent's license was used to obtain the building permit. C. the supervision and financial
matters of the company where the agent's license was used to obtain the building
permit. D. the supervision of all operations of the business organization and for all field
work. - ANSWER-Answer: B. the supervision of field work where agent's license was
used to obtain permit - CM 2-22,/53 489.1195
According to Contractors Manual, CSI Master format divides the specifications into how
many specific divisions? - ANSWER-Answer: 50 CM 10-9 INDEX/CSI
MASTERFORMAT
According to the Statutes of Limitations, how long does a person have to bring action on
a wage recovery claim? A. 2 yrs B. 5 yrs C. 7 yrs D. 10 yrs - ANSWER-Answer: A - 2
years - CM 5-30
All of the following are ways in which bid shopping may be prevented except
________________.
A. requiring bidders to list subcontractors
B. placing a time limit on bid acceptance
C. using bid depositories
D. including special provisions in the bid - ANSWER-Answer: B. placing a time limit on
bid acceptance ?
All the following are examples of types of offers in construction contracts except
_________________________. A. bids B. purchase orders C. proposals D.
negotiations - ANSWER-Answer: D. Negotiations CM 8.5
An employer who willfully misrepresents an employee as an independent contractor for
the purpose of avoiding Worker's Compensation premiums _______________.
A. shall be fined 10% of the bid
B. may be assessed a penalty of up to $5,000.00
C. shall be assessed a penalty of not less than $5,000.00
D. may be assessed triple premiums and a fine of $1,000.00 - ANSWER-Answer: B.
may be assessed a penalty of up to $5,000.00 CM 6 ?
Any violation of rules regarding reporting accidents to the Division of Workers'
Compensation can subject the employer to a penalty of ________________.
A. $1,000
B. $2,500
C. $500
D. $5,000 - ANSWER-Answer: C. 500 CM 6-12 INDEX/WC/RECORD KEEPING
Test Questions and Answers Rated A+
A building inspection may be denied, according to Contractors Manual, for lack of
_____________________. A. an authorized contractor's agent on the job B. a recorded
Notice of Commencement posted on the job site C. an inspection box provided to
protect job documents D. notification to the owner of the pending inspection. -
ANSWER-Answer: B. a recorded Notice of Commencement posted on the job site. - CM
9-77 713.135.1.d
A contractor must serve a copy fo the claim of lien on the owner and lender (if any)
within how many days of the date the claim of lien is recorded? A. 15 B. 30 C. 60 D. 90 -
ANSWER-Answer: A. 15 CM 9-30
A contractor who receives, as initial payment, money totaling more than 10% of the
contract price for any repairs, restoration, improvement, or construction to residential
real property must apply for permits within ____ days? A. 7 B. 10 C. 30 D. 45 -
ANSWER-Answer: B. 10 CM 2-90 INDEX/LICENSING/MONEY RECEIVED
A non-union contractor is considering the possibilities of a collective union bargaining
agreement with the union. What amount of support will the contractor need from
employees? A. 10% of employees B. 20% of employees C. Majority status of
employees D. Not required to have the support of employees. - ANSWER-Answer: D -
Not required to have support of employees. CM 5-14 INDEX/ACTS/LMRA
A person may engage in business under a fictitious name by registering the name with
the _______________. A. Construction Licensing Board B. Division of Corporations C.
Dept of Business and Professional Regulation D. Florida Dept of Sales Tax Division -
ANSWER-Answer: B. Divisions of Corporations - CM 1-15
A project is to be considered abandoned after _________ days if the contractor just
terminates the project without notification to the owner and without cause. A. 30 B. 60
C. 45 D. 90 - ANSWER-Answer D. 90 - CM 2-96 , 489.129.1.j
A qualifying agent for a business organization ___________ A. must notify the
Construction Licensing board of any change of status within 90 days. B. is not legally
qualified to act for the business in all matters connected with contracting. C. must notify
the Dept of Business Regulations of any change of status within 90 days D. is legally
qualified to act for the business in all matters connected with contracting. - ANSWER-
Answer: D. is legally qualified to act for the business in all matters connected with
contracting. - CM 2-22 489.1195.a INDEX/LICENSING/QUALIFIER
A secondary qualifying agent is responsible for ______________________. A. the
financial matters of the company B. the supervision of field work at sites where the
, agent's license was used to obtain the building permit. C. the supervision and financial
matters of the company where the agent's license was used to obtain the building
permit. D. the supervision of all operations of the business organization and for all field
work. - ANSWER-Answer: B. the supervision of field work where agent's license was
used to obtain permit - CM 2-22,/53 489.1195
According to Contractors Manual, CSI Master format divides the specifications into how
many specific divisions? - ANSWER-Answer: 50 CM 10-9 INDEX/CSI
MASTERFORMAT
According to the Statutes of Limitations, how long does a person have to bring action on
a wage recovery claim? A. 2 yrs B. 5 yrs C. 7 yrs D. 10 yrs - ANSWER-Answer: A - 2
years - CM 5-30
All of the following are ways in which bid shopping may be prevented except
________________.
A. requiring bidders to list subcontractors
B. placing a time limit on bid acceptance
C. using bid depositories
D. including special provisions in the bid - ANSWER-Answer: B. placing a time limit on
bid acceptance ?
All the following are examples of types of offers in construction contracts except
_________________________. A. bids B. purchase orders C. proposals D.
negotiations - ANSWER-Answer: D. Negotiations CM 8.5
An employer who willfully misrepresents an employee as an independent contractor for
the purpose of avoiding Worker's Compensation premiums _______________.
A. shall be fined 10% of the bid
B. may be assessed a penalty of up to $5,000.00
C. shall be assessed a penalty of not less than $5,000.00
D. may be assessed triple premiums and a fine of $1,000.00 - ANSWER-Answer: B.
may be assessed a penalty of up to $5,000.00 CM 6 ?
Any violation of rules regarding reporting accidents to the Division of Workers'
Compensation can subject the employer to a penalty of ________________.
A. $1,000
B. $2,500
C. $500
D. $5,000 - ANSWER-Answer: C. 500 CM 6-12 INDEX/WC/RECORD KEEPING
