VA CONTRACTORS: GENERAL (CLASS
A OR B) QUESTIONS AND ANSWERS
(GRADED A+)
Which of the following estimating methods is typically used by the architect rather than
the contractor? - ANSWER-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials
plus a fixed fee for the contractor's overhead and profit is called a... - ANSWER-cost
plus contract
Equipment needs for a project are BEST estimated by... - ANSWER-Calculating the
number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies? - ANSWER-Key man
An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors? - ANSWER-The subcontractors are prime contractors
What protects a contractor from risk? - ANSWER-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - ANSWER-Identifies
activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - ANSWER-Light fixture costs
Which of the following is considered ethical behavior? - ANSWER-Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - ANSWER-1099
The BEST business practice for special-ordered materials is to... - ANSWER-put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have.
This is considered... - ANSWER-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM
of how many years? - ANSWER-30 years
A OR B) QUESTIONS AND ANSWERS
(GRADED A+)
Which of the following estimating methods is typically used by the architect rather than
the contractor? - ANSWER-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials
plus a fixed fee for the contractor's overhead and profit is called a... - ANSWER-cost
plus contract
Equipment needs for a project are BEST estimated by... - ANSWER-Calculating the
number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies? - ANSWER-Key man
An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors? - ANSWER-The subcontractors are prime contractors
What protects a contractor from risk? - ANSWER-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - ANSWER-Identifies
activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - ANSWER-Light fixture costs
Which of the following is considered ethical behavior? - ANSWER-Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - ANSWER-1099
The BEST business practice for special-ordered materials is to... - ANSWER-put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have.
This is considered... - ANSWER-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM
of how many years? - ANSWER-30 years
