VIRGINIA CONTRACTOR PRACTICE
TEST QUESTIONS AND ANSWERS 100%
CORRECT
What is the MAXIMUM penalty for a contractor who undertakes work without the proper
class of license? - ANSWER-$500 fine.
Which of the following is a requirement for a joint venture? - ANSWER-Either the joint
venture or each contracting party of the joint venture must be licensed.
The application for licensure MUST include - ANSWER-the business address of the
proposed designated employee.
All Class A contractor licensure applications MUST include - ANSWER-information on
the knowledge, skills, and abilities of the applicant.
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER-
the contractor's license is revoked.
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net
worth of - ANSWER-$15,000.
A licensee's name change MUST be reported to the Board within a MAXIMUM of how
many days? - ANSWER-30 days.
According to the Board Rules and Regulations, which of the following could be a
qualified individual? - ANSWER-Any full-time employee.
All of the following must be licensed EXCEPT - ANSWER-a material supplier who
advises a contractor.
What is the PRIMARY purpose of licensing? - ANSWER-Protect the health and welfare
of the public.
How much is the Class A initial license fee? - ANSWER-$200
A verified claim for payment from the Transaction Recovery Fund MUST occur within a
MAXIMUM of what period of time from the date the claimant was awarded a final
judgment? - ANSWER-12 months.
TEST QUESTIONS AND ANSWERS 100%
CORRECT
What is the MAXIMUM penalty for a contractor who undertakes work without the proper
class of license? - ANSWER-$500 fine.
Which of the following is a requirement for a joint venture? - ANSWER-Either the joint
venture or each contracting party of the joint venture must be licensed.
The application for licensure MUST include - ANSWER-the business address of the
proposed designated employee.
All Class A contractor licensure applications MUST include - ANSWER-information on
the knowledge, skills, and abilities of the applicant.
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER-
the contractor's license is revoked.
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net
worth of - ANSWER-$15,000.
A licensee's name change MUST be reported to the Board within a MAXIMUM of how
many days? - ANSWER-30 days.
According to the Board Rules and Regulations, which of the following could be a
qualified individual? - ANSWER-Any full-time employee.
All of the following must be licensed EXCEPT - ANSWER-a material supplier who
advises a contractor.
What is the PRIMARY purpose of licensing? - ANSWER-Protect the health and welfare
of the public.
How much is the Class A initial license fee? - ANSWER-$200
A verified claim for payment from the Transaction Recovery Fund MUST occur within a
MAXIMUM of what period of time from the date the claimant was awarded a final
judgment? - ANSWER-12 months.
