FLORIDA BUSINESS AND FINANCE EOC TEST PAPER 2025
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔11. Before the completion of work the person who authorizes a temporary certificate
of __________ is the building official. - ✔✔Occupancy
✔✔12. Majority for the negotiated construction contracts are on a ________ basis. -
✔✔Cost plus fee
✔✔13. What must a contractor do to prevent cash flow problems at the end of a
construction project? - ✔✔Obtain a line of credit from a bank
✔✔14. What should be done with the contractors IRS form W-2? - ✔✔File a copy in the
contractor's office
✔✔15. By law, your workers may not be younger than ______ of age. - ✔✔16
✔✔16. Business equity is shown on the financial statement called teh: - ✔✔Balance
Sheet
✔✔17. State disability and income taxes must be: - ✔✔Reported and paid quarterly
✔✔18. The only reason an employer can lawfully deny employment is _________. -
✔✔No work experience or social security number
✔✔19. You are permitted _______ attempts within four years from the date of the initial
licensure examination to pass all portions of the examinations. - ✔✔Four years
✔✔20. The only time a contractor does not have to be licensed is if: - ✔✔If you are
working on a minor project and not compensated
✔✔21. When is the best time to let your attorney see your construction contract? -
✔✔After the contract is prepared but before you sign it
✔✔22. Is compensation payable if an employee refuses to use a safety appliance like a
hard hat, safety goggles or observe a safety rule? - ✔✔Yes, but the benefits may be
reduced by 25%
✔✔23. One reason why a contractor keeps change order on file is: - ✔✔By law
✔✔24. Which form authorizes a contractor to proceed with work until a formal change
order can be processed? - ✔✔Field Order
, ✔✔25. Under the Worker's Compensation Drug-Free Workplace Program, can a
Contractor conduct random drug testing of his/her employees? - ✔✔The law does not
prohibit a private employer from conducting random testing or any other lawful testing of
employees
✔✔26. A permit is required from OSHA for trenches that are ______ or more in depth. -
✔✔5 feet
✔✔27. In a cost-incentive contract, the most common share of savings awarded to a
contractor is _______ percent? - ✔✔50%
✔✔28. What if an employee refuses to take a drug test? - ✔✔The employer is permitted
to discharge or discipline the employee or may refuse to hire the applicant
✔✔29. The Federal agency that issues an Employer Identification Number is: - ✔✔IRS
✔✔30. In construction contracts, extensions of time are formalized by a document
known as: - ✔✔Change order
✔✔31. The deadline for filing this year's employee W-2's with the Social Security
Administration is: - ✔✔Feb 28
✔✔32. Workers compensation insurance covers injuries or illnesses: - ✔✔That are job
related
✔✔33. The immigration reform and control act requires, that all employees hired on or
after Nov 7, 1986, must complete _________ to verify their employment eligibility
status. - ✔✔I-9
✔✔34. How does an employer obtain worker's compensation insurance? - ✔✔By
purchasing a policy from an insurance agent
From the Joint Underwriting Association
By qualifying as an individual self-insured
An employer may contract with a professional employer organization that has secured
worker's comp
✔✔35. Employees must complete, file with the Social Security Administration and
furnish to their employees Form W-2, Wage and Tax Statement, showing the wages
paid and taxes withheld for the _______ for each employee. - ✔✔Year
✔✔36. An employee must be at least ____ years old to work in most non-farm jobs an
dat least ____ to work in non-farm jobs declared hazardous by the Secretary of Labor. -
✔✔16:18
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔11. Before the completion of work the person who authorizes a temporary certificate
of __________ is the building official. - ✔✔Occupancy
✔✔12. Majority for the negotiated construction contracts are on a ________ basis. -
✔✔Cost plus fee
✔✔13. What must a contractor do to prevent cash flow problems at the end of a
construction project? - ✔✔Obtain a line of credit from a bank
✔✔14. What should be done with the contractors IRS form W-2? - ✔✔File a copy in the
contractor's office
✔✔15. By law, your workers may not be younger than ______ of age. - ✔✔16
✔✔16. Business equity is shown on the financial statement called teh: - ✔✔Balance
Sheet
✔✔17. State disability and income taxes must be: - ✔✔Reported and paid quarterly
✔✔18. The only reason an employer can lawfully deny employment is _________. -
✔✔No work experience or social security number
✔✔19. You are permitted _______ attempts within four years from the date of the initial
licensure examination to pass all portions of the examinations. - ✔✔Four years
✔✔20. The only time a contractor does not have to be licensed is if: - ✔✔If you are
working on a minor project and not compensated
✔✔21. When is the best time to let your attorney see your construction contract? -
✔✔After the contract is prepared but before you sign it
✔✔22. Is compensation payable if an employee refuses to use a safety appliance like a
hard hat, safety goggles or observe a safety rule? - ✔✔Yes, but the benefits may be
reduced by 25%
✔✔23. One reason why a contractor keeps change order on file is: - ✔✔By law
✔✔24. Which form authorizes a contractor to proceed with work until a formal change
order can be processed? - ✔✔Field Order
, ✔✔25. Under the Worker's Compensation Drug-Free Workplace Program, can a
Contractor conduct random drug testing of his/her employees? - ✔✔The law does not
prohibit a private employer from conducting random testing or any other lawful testing of
employees
✔✔26. A permit is required from OSHA for trenches that are ______ or more in depth. -
✔✔5 feet
✔✔27. In a cost-incentive contract, the most common share of savings awarded to a
contractor is _______ percent? - ✔✔50%
✔✔28. What if an employee refuses to take a drug test? - ✔✔The employer is permitted
to discharge or discipline the employee or may refuse to hire the applicant
✔✔29. The Federal agency that issues an Employer Identification Number is: - ✔✔IRS
✔✔30. In construction contracts, extensions of time are formalized by a document
known as: - ✔✔Change order
✔✔31. The deadline for filing this year's employee W-2's with the Social Security
Administration is: - ✔✔Feb 28
✔✔32. Workers compensation insurance covers injuries or illnesses: - ✔✔That are job
related
✔✔33. The immigration reform and control act requires, that all employees hired on or
after Nov 7, 1986, must complete _________ to verify their employment eligibility
status. - ✔✔I-9
✔✔34. How does an employer obtain worker's compensation insurance? - ✔✔By
purchasing a policy from an insurance agent
From the Joint Underwriting Association
By qualifying as an individual self-insured
An employer may contract with a professional employer organization that has secured
worker's comp
✔✔35. Employees must complete, file with the Social Security Administration and
furnish to their employees Form W-2, Wage and Tax Statement, showing the wages
paid and taxes withheld for the _______ for each employee. - ✔✔Year
✔✔36. An employee must be at least ____ years old to work in most non-farm jobs an
dat least ____ to work in non-farm jobs declared hazardous by the Secretary of Labor. -
✔✔16:18
