FLORIDA BUSINESS AND FINANCE ACTUAL EXAM PAPER
2025 QUESTIONS WITH ANSWWRS GUARANTEE A+
✔✔secondary qualifying agent is responsible for what - ✔✔supervision of field work
where his license was used and anything else he accepts responsibility for
✔✔contractors must keep records for a period of - ✔✔3 years
✔✔If the qualifying agent is fired how long until you have to notify the DBPR and obtain
another agent with in - ✔✔60 days
✔✔How many hours will be credited to your education if you do pro bono work -
✔✔25%
✔✔penalty for theft of the examination - ✔✔felony of the 3rd degree
✔✔Examination grades, papers, answers should be kept for how long - ✔✔2 years
✔✔a person shall be allowed to take a test if Immigrated to the United States for
political reasons can get a license if - ✔✔Was located in the Western Hemisphere and
lacks diplomatic relations with the US
✔✔If the subject does not dispute the matter in the citation within ________ days after
the citation is served the citation becomes final order - ✔✔30
✔✔Unlicensed activity fee is how much - ✔✔5 dollars
✔✔How soon before license expires will the department send you a notice - ✔✔At least
90 days
✔✔In the event of a death of a contractor, how many days before you are required to
notify the board - ✔✔30 days
✔✔A contractor who receives more than 10% must do what - ✔✔Apply for permits
within 30 days and begin instruction within 90 days
✔✔All contractors certified or registered shall maintain complete financial records for a
period of ________ - ✔✔3 years
✔✔A project will be considered abandoned after how many days by a contractor -
✔✔90 days
, ✔✔Must notify the board of changes in name style, address from that which appears on
the current certificate of registration. How many days?? - ✔✔30 days
✔✔A certificate or registrant must inform the board by mail within how many calendar
day of changes in any information stated on the application for qualification of a
business organization - ✔✔45 days
✔✔Things owned by a company are called - ✔✔assets
✔✔Claims by others are called - ✔✔liabilities
✔✔Assets == - ✔✔liabilities + equity
✔✔To qualify for expansion financing, some programs and financial institutions require
you be in business minimum of _______ but preferred to have ______ - ✔✔2, 5
✔✔Four basic types of contracts - ✔✔fixed, unit price, cost plus, time and material
✔✔Completed Contract Method - ✔✔complete is recognized at 98 or 99 %
✔✔Retainage is usually what percent - ✔✔10%
✔✔Four basic methods available to contractors - ✔✔cash method, accrual basis,
percentage of completion, completed contract method
✔✔Front end loading - ✔✔progress billings are accelerated (more money up front)
✔✔Davis Bacon Act - ✔✔excess of 2,000
✔✔Keep all records of employment taxes for _______ years - ✔✔4
✔✔Furnish what tax forms by January 31st? - ✔✔1099, W-2, Form 941, Form 944
✔✔Social security and medicare tax rate - ✔✔7.65%
✔✔Automobile rates are based on - ✔✔size of vehicle, gross weight of vehicle, distance
traveled
✔✔What is a bid bond - ✔✔guarantee that the contractor is awarded the bid, he will
enter into a contract at the price stipulated in the bid.
✔✔Forfeiture Obligation - ✔✔if you are the low bidder and you DO not enter into the
contract, then you forfeit the bid amount
2025 QUESTIONS WITH ANSWWRS GUARANTEE A+
✔✔secondary qualifying agent is responsible for what - ✔✔supervision of field work
where his license was used and anything else he accepts responsibility for
✔✔contractors must keep records for a period of - ✔✔3 years
✔✔If the qualifying agent is fired how long until you have to notify the DBPR and obtain
another agent with in - ✔✔60 days
✔✔How many hours will be credited to your education if you do pro bono work -
✔✔25%
✔✔penalty for theft of the examination - ✔✔felony of the 3rd degree
✔✔Examination grades, papers, answers should be kept for how long - ✔✔2 years
✔✔a person shall be allowed to take a test if Immigrated to the United States for
political reasons can get a license if - ✔✔Was located in the Western Hemisphere and
lacks diplomatic relations with the US
✔✔If the subject does not dispute the matter in the citation within ________ days after
the citation is served the citation becomes final order - ✔✔30
✔✔Unlicensed activity fee is how much - ✔✔5 dollars
✔✔How soon before license expires will the department send you a notice - ✔✔At least
90 days
✔✔In the event of a death of a contractor, how many days before you are required to
notify the board - ✔✔30 days
✔✔A contractor who receives more than 10% must do what - ✔✔Apply for permits
within 30 days and begin instruction within 90 days
✔✔All contractors certified or registered shall maintain complete financial records for a
period of ________ - ✔✔3 years
✔✔A project will be considered abandoned after how many days by a contractor -
✔✔90 days
, ✔✔Must notify the board of changes in name style, address from that which appears on
the current certificate of registration. How many days?? - ✔✔30 days
✔✔A certificate or registrant must inform the board by mail within how many calendar
day of changes in any information stated on the application for qualification of a
business organization - ✔✔45 days
✔✔Things owned by a company are called - ✔✔assets
✔✔Claims by others are called - ✔✔liabilities
✔✔Assets == - ✔✔liabilities + equity
✔✔To qualify for expansion financing, some programs and financial institutions require
you be in business minimum of _______ but preferred to have ______ - ✔✔2, 5
✔✔Four basic types of contracts - ✔✔fixed, unit price, cost plus, time and material
✔✔Completed Contract Method - ✔✔complete is recognized at 98 or 99 %
✔✔Retainage is usually what percent - ✔✔10%
✔✔Four basic methods available to contractors - ✔✔cash method, accrual basis,
percentage of completion, completed contract method
✔✔Front end loading - ✔✔progress billings are accelerated (more money up front)
✔✔Davis Bacon Act - ✔✔excess of 2,000
✔✔Keep all records of employment taxes for _______ years - ✔✔4
✔✔Furnish what tax forms by January 31st? - ✔✔1099, W-2, Form 941, Form 944
✔✔Social security and medicare tax rate - ✔✔7.65%
✔✔Automobile rates are based on - ✔✔size of vehicle, gross weight of vehicle, distance
traveled
✔✔What is a bid bond - ✔✔guarantee that the contractor is awarded the bid, he will
enter into a contract at the price stipulated in the bid.
✔✔Forfeiture Obligation - ✔✔if you are the low bidder and you DO not enter into the
contract, then you forfeit the bid amount
