Michigan Builders Business/Law/Accounting
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Terms in this set (315)
Verification Form I-9 3 days
must be completed by
applicants providing
proof of identity and
employment eligibility
within ______ of
employment.
What type of business is Sole Proprietorship
the easiest to establish
and allows the owner to
determine how profits
are used although they
are personally liable for
all debt and assets?
A ______is a joint co-owner General Proprietorship
partnership established
to specifically increase
bonding and bidding
capacities and profits.
Provisions of the 15 or more
Americans with
Disabilities (ADA) Law
apply to employers
having _____ employees.
,What Federal Act Davis Bacon
requires those working
on federal and federally
funded construction
projects to be paid a
minimum prevailing wage
for their trade?
Which of the following Paid vacation, sick leave, 401k plan company vehicle
are fringe benefits that
supplement an
employee's hourly wage?
To avoid being held Lien release
liable, the contractor
must file a _______ once the
lien payment is received.
What is the Michigan Act It creates the Commission and regulates code and
230? inspections in the State.
What unit is issued a Manufactured home
Certificate of
Acceptability and will not
be inspected at the site?
What is the purpose of To get paid by the contractor
the subcontractor
completing a Sworn
Statement?
What is the purpose of a To prove that partial payment to subs or suppliers
Partial Unconditional has been received.
Waiver?
The subcontractor has 90 days
______ to file a lien against
the property for non-
payment from the
contractor.
,What is the penalty to A fine of no more than $5,000 and/or 3 yrs in prison
contractors or
subcontractors for
intentionally trying to
defraud employees or a
customer?
In accordance with the 10 days
Michigan Construction
Lien Act, the homeowner
has _____ to provide
signed copies of the
Commencement
Agreement to the all
parties that request it.
The contractor provides 20 days if they are a supplier; 30 days if they are a
a blank Notice of laborer
Furnishing to whomever
requests the
Commencement
Agreement. It must be
completed and returned
to the contractor every
________.
If a builder is required to is a fine no less that $5,000 or greater than $25,000
be licensed, the penalty
for working without a
license ____.
Upon final order of 10 days
license suspension or
revocation, the licensee
has _____ in which to
surrender their license to
the Department.
Failing to renew one's $20 late fee
license before the
deadline will result in a
_____.
, How long does the 18 months
homeowner/business
have to file a complaint
after the project is
completed?
What aids and protects The arbitration clause
the contractor from
accusations of project
abandonment without a
good legal excuse?
To avoid being fined, the 10 days
contractor must notify
the Department within
_____ of relocating their
business or changing the
business' name.
Definitively, a _______ is a Licensed Residential Builder
person that constructs,
replaces, improves, or
demolishes residential or
commercial structures for
a fixed or lump sum price
or fee.
When can a When they are working under a licensed contractor
subcontractor work that is not a mechanical contractor
without being licensed?
An owner/landlord is not When the repairs are structural in nature
permitted to do their own
building alterations _______.
A complaint is _______ when referred to the Administrative Law Hearing Examiner
it cannot be resolved at
the informal investigative
hearing.
Exam Questions & Answers Latest Update
Save
Terms in this set (315)
Verification Form I-9 3 days
must be completed by
applicants providing
proof of identity and
employment eligibility
within ______ of
employment.
What type of business is Sole Proprietorship
the easiest to establish
and allows the owner to
determine how profits
are used although they
are personally liable for
all debt and assets?
A ______is a joint co-owner General Proprietorship
partnership established
to specifically increase
bonding and bidding
capacities and profits.
Provisions of the 15 or more
Americans with
Disabilities (ADA) Law
apply to employers
having _____ employees.
,What Federal Act Davis Bacon
requires those working
on federal and federally
funded construction
projects to be paid a
minimum prevailing wage
for their trade?
Which of the following Paid vacation, sick leave, 401k plan company vehicle
are fringe benefits that
supplement an
employee's hourly wage?
To avoid being held Lien release
liable, the contractor
must file a _______ once the
lien payment is received.
What is the Michigan Act It creates the Commission and regulates code and
230? inspections in the State.
What unit is issued a Manufactured home
Certificate of
Acceptability and will not
be inspected at the site?
What is the purpose of To get paid by the contractor
the subcontractor
completing a Sworn
Statement?
What is the purpose of a To prove that partial payment to subs or suppliers
Partial Unconditional has been received.
Waiver?
The subcontractor has 90 days
______ to file a lien against
the property for non-
payment from the
contractor.
,What is the penalty to A fine of no more than $5,000 and/or 3 yrs in prison
contractors or
subcontractors for
intentionally trying to
defraud employees or a
customer?
In accordance with the 10 days
Michigan Construction
Lien Act, the homeowner
has _____ to provide
signed copies of the
Commencement
Agreement to the all
parties that request it.
The contractor provides 20 days if they are a supplier; 30 days if they are a
a blank Notice of laborer
Furnishing to whomever
requests the
Commencement
Agreement. It must be
completed and returned
to the contractor every
________.
If a builder is required to is a fine no less that $5,000 or greater than $25,000
be licensed, the penalty
for working without a
license ____.
Upon final order of 10 days
license suspension or
revocation, the licensee
has _____ in which to
surrender their license to
the Department.
Failing to renew one's $20 late fee
license before the
deadline will result in a
_____.
, How long does the 18 months
homeowner/business
have to file a complaint
after the project is
completed?
What aids and protects The arbitration clause
the contractor from
accusations of project
abandonment without a
good legal excuse?
To avoid being fined, the 10 days
contractor must notify
the Department within
_____ of relocating their
business or changing the
business' name.
Definitively, a _______ is a Licensed Residential Builder
person that constructs,
replaces, improves, or
demolishes residential or
commercial structures for
a fixed or lump sum price
or fee.
When can a When they are working under a licensed contractor
subcontractor work that is not a mechanical contractor
without being licensed?
An owner/landlord is not When the repairs are structural in nature
permitted to do their own
building alterations _______.
A complaint is _______ when referred to the Administrative Law Hearing Examiner
it cannot be resolved at
the informal investigative
hearing.
