NASCLA Contractors Guide Arkansas 5th
edition UPDATED ACTUAL Exam
Questions and CORRECT Answers
2 - CORRECT ANSWER How many members of the board are consumers?
right to work - CORRECT ANSWER what laws secure the right of employees to decide if
they wish to support or join a union?
Consideration - CORRECT ANSWER __________ is anything of value
Social Security Card - CORRECT ANSWER which of the following establishes an
employee's eligibility to leagally work in the united states?
foul language - CORRECT ANSWER which of the following should not be tolerated at a
job site?
2 - CORRECT ANSWER enployers engage in building repair work with __________or
more employees are required to carry workers compensation
15,896 (112,000 X 2.9=3,248 (total medicare) 102,000 X 12.4=12,648 (total social security)
12,648+3,248=15,896 - CORRECT ANSWER If an employee earns 112,000 per year,
what is the total amount of FICA to be paid in?
material consumption - CORRECT ANSWER which of the following iteams are not added
after estimating materials and labor?
open a check account - CORRECT ANSWER which is not a purpose of marketing
,Drivers License - CORRECT ANSWER which of the following establishes an employee's
identity to leagally work in the United States?
1/3 (chapter 14-7) - CORRECT ANSWER What is the return on total assets if there is a
net profit (after taxes) or 16,000 and total assets of $48,000?
Form of Agreement - CORRECT ANSWER all of the following are part of bid
documents, Bid form , invitation to Bid, and Addenda except
W4 - CORRECT ANSWER Which of the following is not used to pay taxes
ordinary income - CORRECT ANSWER A sole proprietor is taxed on _______?
2 - CORRECT ANSWER How many years have to pass when a license expires to be
determined nil?
injured from work - CORRECT ANSWER The purpose of workers compensation is to
allow for monetary compensation when an employee is?
Force majeure - CORRECT ANSWER _________ is a provision written into contract that
is used to limit risk in case of labor strikes?
1/2 - CORRECT ANSWER New applications for licensure must have______the net
worth?
11 - CORRECT ANSWER An EAP is required for to be in writting for ______ employees
or more?
940 - CORRECT ANSWER What form is used to report FUTA taxes?
, signed change order is not required - CORRECT ANSWER When handling change order,
one should always do the following except?(invoice change order work immediately, included
complimentary work done without charge, show labor and quantity details)
January 31 - CORRECT ANSWER State umemployment tax reports are dueby ____?
property tax - CORRECT ANSWER Generally, which of the following is not a business
tax? ( employment tax, self- employment tax, income tax are)
4/1 ( chapter 14-6 ) - CORRECT ANSWER What is a quick ratio (or acid test ratio) for
company that hascurrent assets of $28,000, inventory of $4,000, and current liabilities of $6,000?
General Partners - CORRECT ANSWER A management team for a limited partnership
consists of?
income statement - CORRECT ANSWER What type of financial statement is used to
establish revenues and expenses over a period of time?
project manager - CORRECT ANSWER Which of the following is not a member of the
supervisory team?
$100 - CORRECT ANSWER How much will a license pay if they file a renewal within 30
days after expiration?
payment bond protections are void before work begins - CORRECT ANSWER The
construction industry payment protection act of 1999 states ____________
insuranse - CORRECT ANSWER All but which of the following is a guideline for job
description? (SKA, Certificates, responsibilities are)
edition UPDATED ACTUAL Exam
Questions and CORRECT Answers
2 - CORRECT ANSWER How many members of the board are consumers?
right to work - CORRECT ANSWER what laws secure the right of employees to decide if
they wish to support or join a union?
Consideration - CORRECT ANSWER __________ is anything of value
Social Security Card - CORRECT ANSWER which of the following establishes an
employee's eligibility to leagally work in the united states?
foul language - CORRECT ANSWER which of the following should not be tolerated at a
job site?
2 - CORRECT ANSWER enployers engage in building repair work with __________or
more employees are required to carry workers compensation
15,896 (112,000 X 2.9=3,248 (total medicare) 102,000 X 12.4=12,648 (total social security)
12,648+3,248=15,896 - CORRECT ANSWER If an employee earns 112,000 per year,
what is the total amount of FICA to be paid in?
material consumption - CORRECT ANSWER which of the following iteams are not added
after estimating materials and labor?
open a check account - CORRECT ANSWER which is not a purpose of marketing
,Drivers License - CORRECT ANSWER which of the following establishes an employee's
identity to leagally work in the United States?
1/3 (chapter 14-7) - CORRECT ANSWER What is the return on total assets if there is a
net profit (after taxes) or 16,000 and total assets of $48,000?
Form of Agreement - CORRECT ANSWER all of the following are part of bid
documents, Bid form , invitation to Bid, and Addenda except
W4 - CORRECT ANSWER Which of the following is not used to pay taxes
ordinary income - CORRECT ANSWER A sole proprietor is taxed on _______?
2 - CORRECT ANSWER How many years have to pass when a license expires to be
determined nil?
injured from work - CORRECT ANSWER The purpose of workers compensation is to
allow for monetary compensation when an employee is?
Force majeure - CORRECT ANSWER _________ is a provision written into contract that
is used to limit risk in case of labor strikes?
1/2 - CORRECT ANSWER New applications for licensure must have______the net
worth?
11 - CORRECT ANSWER An EAP is required for to be in writting for ______ employees
or more?
940 - CORRECT ANSWER What form is used to report FUTA taxes?
, signed change order is not required - CORRECT ANSWER When handling change order,
one should always do the following except?(invoice change order work immediately, included
complimentary work done without charge, show labor and quantity details)
January 31 - CORRECT ANSWER State umemployment tax reports are dueby ____?
property tax - CORRECT ANSWER Generally, which of the following is not a business
tax? ( employment tax, self- employment tax, income tax are)
4/1 ( chapter 14-6 ) - CORRECT ANSWER What is a quick ratio (or acid test ratio) for
company that hascurrent assets of $28,000, inventory of $4,000, and current liabilities of $6,000?
General Partners - CORRECT ANSWER A management team for a limited partnership
consists of?
income statement - CORRECT ANSWER What type of financial statement is used to
establish revenues and expenses over a period of time?
project manager - CORRECT ANSWER Which of the following is not a member of the
supervisory team?
$100 - CORRECT ANSWER How much will a license pay if they file a renewal within 30
days after expiration?
payment bond protections are void before work begins - CORRECT ANSWER The
construction industry payment protection act of 1999 states ____________
insuranse - CORRECT ANSWER All but which of the following is a guideline for job
description? (SKA, Certificates, responsibilities are)
