1|Page
LOUISIANA CONTRACTOR'S LICENSE EXAM|| ACCURATE
AND FREQUENTLY TESTED QUESTIONS AND 100%
CORRECT ANSWERS WITH RATIONALES|| LATEST AND
COMPLETE UPDATE WITH EXPERT VERIFIED SOLUTIONS||
SURE PASS!!
Cover Page - ANSWER: contains contact info and a confidentiality statement
Abatement/Mold Remediation License - ANSWER: requires a 4 hour course in
"unfair trade practices and consumer protection law".
If an employee requests their W2 from an employer after final wages are paid... -
ANSWER: The employer has 30 days to fulfill their request
OSHA requires employer's to post an annual summary of injuries and illnesses. -
ANSWER: No later than February 1st of each year.
OSHA Form 300 must be kept for a period of... - ANSWER: 5 years after which
the form pertains.
Occupational License Taxes are required by... - ANSWER: Cities and Parishes
executive summary - ANSWER: includes highlights of the business plan and is
meant to gain interest of the reader
Company Summary - ANSWER: the company vision and mission, legal structure,
management personnel, business location, and facilities
,2|Page
Products and Services - ANSWER: your specific products, primary subcontractors
and suppliers, and expansion opportunities
Market Analysis - ANSWER: your target market, trends and major competitors
are defined here
Market Strategy - ANSWER: the uniqueness of your product along with your
pricing, advertising, and promotional strategy
Financial Plan - ANSWER: Financial statements, balance sheet, income statement,
and cash flow statement
Sole Proprietorship - ANSWER: a business owned and managed by a single
individual
Partnership - ANSWER: A business in which two or more persons combine their
assets and skills
Limited Liability Corporation - ANSWER: a type of business with limited liability
for the owners, with the advantage of not paying corporate income tax
C Corporation - ANSWER: The most common type of corporation, which is a
legal business entity that offers limited liability to all of its owners, who are called
stockholders
S corporation - ANSWER: a form of corporation that avoids double taxation by
passing items of income, loss, deduction, and credits through to its shareholders
, 3|Page
Joint Venture - ANSWER: an agreement between two or more companies to share
a business project
business License - ANSWER: protects the public from unqualified, inexperienced,
incompetent or unethical contractors
Licensing Authorities - ANSWER: conduct investigations and discipline problem
contractors, levee fines, and even revoke licenses
Louisiana Licensing Board - ANSWER: 15 members appointed by the governor
and represent each voting district.
Commercial Contract - ANSWER: license is required for $50,000 or more
Electrical and/or Mechanical Contract - ANSWER: License is required for
$10,000 or more
Residential Contract - ANSWER: license is required for $75,000 or more
Abatement contract - ANSWER: license is required for $1 or more
Home remodel contract - ANSWER: License required for $7,500 or more
Commercial Project - ANSWER: any project other than residential
Multi-Resident Contracts - ANSWER: considered to be a commercial project if in
the same subdivision
LOUISIANA CONTRACTOR'S LICENSE EXAM|| ACCURATE
AND FREQUENTLY TESTED QUESTIONS AND 100%
CORRECT ANSWERS WITH RATIONALES|| LATEST AND
COMPLETE UPDATE WITH EXPERT VERIFIED SOLUTIONS||
SURE PASS!!
Cover Page - ANSWER: contains contact info and a confidentiality statement
Abatement/Mold Remediation License - ANSWER: requires a 4 hour course in
"unfair trade practices and consumer protection law".
If an employee requests their W2 from an employer after final wages are paid... -
ANSWER: The employer has 30 days to fulfill their request
OSHA requires employer's to post an annual summary of injuries and illnesses. -
ANSWER: No later than February 1st of each year.
OSHA Form 300 must be kept for a period of... - ANSWER: 5 years after which
the form pertains.
Occupational License Taxes are required by... - ANSWER: Cities and Parishes
executive summary - ANSWER: includes highlights of the business plan and is
meant to gain interest of the reader
Company Summary - ANSWER: the company vision and mission, legal structure,
management personnel, business location, and facilities
,2|Page
Products and Services - ANSWER: your specific products, primary subcontractors
and suppliers, and expansion opportunities
Market Analysis - ANSWER: your target market, trends and major competitors
are defined here
Market Strategy - ANSWER: the uniqueness of your product along with your
pricing, advertising, and promotional strategy
Financial Plan - ANSWER: Financial statements, balance sheet, income statement,
and cash flow statement
Sole Proprietorship - ANSWER: a business owned and managed by a single
individual
Partnership - ANSWER: A business in which two or more persons combine their
assets and skills
Limited Liability Corporation - ANSWER: a type of business with limited liability
for the owners, with the advantage of not paying corporate income tax
C Corporation - ANSWER: The most common type of corporation, which is a
legal business entity that offers limited liability to all of its owners, who are called
stockholders
S corporation - ANSWER: a form of corporation that avoids double taxation by
passing items of income, loss, deduction, and credits through to its shareholders
, 3|Page
Joint Venture - ANSWER: an agreement between two or more companies to share
a business project
business License - ANSWER: protects the public from unqualified, inexperienced,
incompetent or unethical contractors
Licensing Authorities - ANSWER: conduct investigations and discipline problem
contractors, levee fines, and even revoke licenses
Louisiana Licensing Board - ANSWER: 15 members appointed by the governor
and represent each voting district.
Commercial Contract - ANSWER: license is required for $50,000 or more
Electrical and/or Mechanical Contract - ANSWER: License is required for
$10,000 or more
Residential Contract - ANSWER: license is required for $75,000 or more
Abatement contract - ANSWER: license is required for $1 or more
Home remodel contract - ANSWER: License required for $7,500 or more
Commercial Project - ANSWER: any project other than residential
Multi-Resident Contracts - ANSWER: considered to be a commercial project if in
the same subdivision
