FLORIDA HVAC CLASS A FINANCE PRACTICE
QUESTIONS AND VERIFIED ANSWER WITH VERIFIED
SOLUTIONS RATED A+
Under the Federal Equal Pay Act of 1963, a court or jury, in the case of a willful
violation, may award - VERIFIED ANS ✔✔ Back Pay only, up to 3
Years
The benefit of a good budget is to - - VERIFIED ANS ✔✔ Ensure a
balance between investment and expected yield
A constructed contract specifies that the work is to be completed within 180 days
and You know so liquidated damages of $200 for every day past the contracted
completion date. Executed change orders added 35 days to the project. It the
work was completed 205 days, what are the liquidated damages owed by the
construction company? - VERIFIED ANS ✔✔ $0
When Pulling a building permit, a copy of the will be filed with the
permitting authority. - VERIFIED ANS ✔✔ Notice of
Commencement
Multi-Worksite Reports MUST agree with the - VERIFIED ANS ✔✔ Totals
on the employer's quarterly reports
Surety bonds are generally required of contractors performing Public Works in
order to - VERIFIED ANS ✔✔ Protect the Funds of the Taxpayer
What group of employees is covered by the Florida Right to Work Laws? -
,VERIFIED ANS ✔✔ Construction Site Employees
,Which of the following is NOT an accomplishment of a complete cash budget? -
VERIFIED ANS ✔✔ provides simply for reserves and fund accumulation.
It's an accomplishment of a complete cash budget:
-make day to day and monthly cash available
-models control of receivables and collectables
-takes advantage of discounts and excess funds
Under Title VII of The Civil Rights Act of 1964, once the EEOC issues a Notice of
Right to Sue, the charging party has days from receipt of the notice to file
suit. - VERIFIED ANS ✔✔ 90 Days
What is the advantage of an S Corporation for a Sole Proprietor? - VERIFIED ANS
✔✔ All corporate income and losses comes to the Sole Proprietor as an
individual taxpayer.
What is a profitable loan for a builder? - VERIFIED ANS ✔✔ The profit from
borrowed money exceeds the cost
Which one of the following is on the credit side of the balance sheet? -
VERIFIED ANS ✔✔ Net Worth
What could indicate a need for more employees? - VERIFIED ANS ✔✔
When
overtime exceeds the cost of hiring a new employee
The financial statement known as the balance sheet must show that -
VERIFIED ANS ✔✔
The total assets, less the total liability equal the net worth
, What is the only way to extend the effective period of a claim of lien? -
VERIFIED ANS ✔✔ File a suit within 1 year to enforce it
What is a good way of discussing scheduling, quality, and other issues with
subcontractors and suppliers? - VERIFIED ANS ✔✔ Weekly mandatory job
site meetings
What is the MOST useful for controlling inventory? - VERIFIED ANS ✔✔
Purchase
Journal
Using a cost Plus contract for cost escalation is easiest for the to shift risk. -
VERIFIED ANS ✔✔ Contractor
A minor violation that does not endanger the public health, safety and welfare,
and which does not demonstrate a serious inability to practice the construction
profession would be all of the following except a failure to : - VERIFIED ANS ✔✔
Initiate a project during the allotted 6 months after receipt of permit
Minor Violation
-register a local license with the CILB prior to contracting
-register a qualified business organization within 45 days of commencing work
-include a license number on an advertisement, offer of services, business
proposal, bid or contract
A change of a business address must be mailed to the
Department of Business and Professional Regulation within how many days of the
change? - VERIFIED ANS ✔✔ 45 Days
QUESTIONS AND VERIFIED ANSWER WITH VERIFIED
SOLUTIONS RATED A+
Under the Federal Equal Pay Act of 1963, a court or jury, in the case of a willful
violation, may award - VERIFIED ANS ✔✔ Back Pay only, up to 3
Years
The benefit of a good budget is to - - VERIFIED ANS ✔✔ Ensure a
balance between investment and expected yield
A constructed contract specifies that the work is to be completed within 180 days
and You know so liquidated damages of $200 for every day past the contracted
completion date. Executed change orders added 35 days to the project. It the
work was completed 205 days, what are the liquidated damages owed by the
construction company? - VERIFIED ANS ✔✔ $0
When Pulling a building permit, a copy of the will be filed with the
permitting authority. - VERIFIED ANS ✔✔ Notice of
Commencement
Multi-Worksite Reports MUST agree with the - VERIFIED ANS ✔✔ Totals
on the employer's quarterly reports
Surety bonds are generally required of contractors performing Public Works in
order to - VERIFIED ANS ✔✔ Protect the Funds of the Taxpayer
What group of employees is covered by the Florida Right to Work Laws? -
,VERIFIED ANS ✔✔ Construction Site Employees
,Which of the following is NOT an accomplishment of a complete cash budget? -
VERIFIED ANS ✔✔ provides simply for reserves and fund accumulation.
It's an accomplishment of a complete cash budget:
-make day to day and monthly cash available
-models control of receivables and collectables
-takes advantage of discounts and excess funds
Under Title VII of The Civil Rights Act of 1964, once the EEOC issues a Notice of
Right to Sue, the charging party has days from receipt of the notice to file
suit. - VERIFIED ANS ✔✔ 90 Days
What is the advantage of an S Corporation for a Sole Proprietor? - VERIFIED ANS
✔✔ All corporate income and losses comes to the Sole Proprietor as an
individual taxpayer.
What is a profitable loan for a builder? - VERIFIED ANS ✔✔ The profit from
borrowed money exceeds the cost
Which one of the following is on the credit side of the balance sheet? -
VERIFIED ANS ✔✔ Net Worth
What could indicate a need for more employees? - VERIFIED ANS ✔✔
When
overtime exceeds the cost of hiring a new employee
The financial statement known as the balance sheet must show that -
VERIFIED ANS ✔✔
The total assets, less the total liability equal the net worth
, What is the only way to extend the effective period of a claim of lien? -
VERIFIED ANS ✔✔ File a suit within 1 year to enforce it
What is a good way of discussing scheduling, quality, and other issues with
subcontractors and suppliers? - VERIFIED ANS ✔✔ Weekly mandatory job
site meetings
What is the MOST useful for controlling inventory? - VERIFIED ANS ✔✔
Purchase
Journal
Using a cost Plus contract for cost escalation is easiest for the to shift risk. -
VERIFIED ANS ✔✔ Contractor
A minor violation that does not endanger the public health, safety and welfare,
and which does not demonstrate a serious inability to practice the construction
profession would be all of the following except a failure to : - VERIFIED ANS ✔✔
Initiate a project during the allotted 6 months after receipt of permit
Minor Violation
-register a local license with the CILB prior to contracting
-register a qualified business organization within 45 days of commencing work
-include a license number on an advertisement, offer of services, business
proposal, bid or contract
A change of a business address must be mailed to the
Department of Business and Professional Regulation within how many days of the
change? - VERIFIED ANS ✔✔ 45 Days
