STUDY GUIDE
QUESTIONS WITH ANSWERS
Substantial completion ✔ans Stage or designated portion of a construction project that is sufficiently
complete in accordance with a contract for the owner to occupy and/or utilize it for its intended use,
without undue interference.
Title Companies ✔ans A business that determines that a property title is clear and that provides title
insurance.
Lien wavers ✔ans Is a document that the owner asked the General contractor to make sure they have
paid the subcontractor and Materials so the subcontractors won't put a lien on their home if they
haven't been paid
Change orders ✔ans is work that is added to or deleted from the original scope of work of a contract,
which alters the original contract amount and/or completion date.
Final payment ✔ans final check is made jointly payable to the owner and contractor after all work is
complete and certificate of occupancy (CO) has been issued.
Contracts ✔ans legal agreements between buyers and sellers
Contractor's ✔ans is someone who demolishes subtracts from boots for improved any building or
structure or compensation. Compensation or cash goods services etc. essentially if you pay someone to
construct A building or a structure makes structural alterations to load bearing walls or perform services
such as plumbing or air conditioning work that person Hass to have a state contractors license.
General contractor license ✔ans allows building construction that is unlimited as to the type and size of
the construction project.
Building contractor licensing ✔ans whose services are limited to the construction of commercial
buildings and single-dwelling or multiple-dwelling residential buildings. These buildings cannot exceed
three stories in height.