VA Contractors VA Advanced (Class A) exam with correct
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answers
A |contractor |pays |a |workers' |compensation |rate |of |$0.08 |per |$100 |of |office |employee |payroll, |
$0.15 |per |$100 |of |field |supervisor |payroll, |and |$0.26 |per |$100 |of |field |employee |payroll. |Total |
office |employee |payroll |for |the |year |is |$25,000. |Total |field |supervisor |payroll |is |$48,000. |Total |
field |employee |payroll |is |$225,000. |The |contractor |receives |a |discount |of |5% |of |total |
premiums |for |having |a |safety |program |in |place. |The |total |workers' |compensation |for |the |year |
is... |- |correct |answer |More |than |$600
A |contractor |puts |in |a |claim |under |a |comprehensive |standard |general |liability |policy. |The |
policy |has |no |additional |coverage, |riders, |or |floaters, |and |has |a |$500 |deductible |per |
occurrence. |The |claim |is |for |a |job-site |accident |that |caused |$2,000 |of |injuries |to |employees, |
$1,800 |of |injuries |to |a |pedestrian, |$2,300 |damage |to |the |contractor's |equipment, |and |$1,750 |
loss |of |project |materials |purchased |by |the |contractor. |The |insurance |company |is |liable |for... |- |
correct |answer |$1,300
A |cost |plus |contract |calls |for |the |contractor |to |receive |direct |costs |for |labor |and |materials, |and
|a |markup |of |20% |of |direct |costs. |The |contractor |is |also |to |receive |a |bound |of |15% |of |savings |
if |total |cost |to |the |owner |is |less |than |$80,000, |and |a |bonus |of |$1,000 |per |day |if |the |project |is |
completed |early. |Final |costs |for |direct |labor |and |materials |are |$60,000. |The |project |is |
completed |3 |days |early. |What |is |the |total |amount |due |to |the |contractor? |- |correct |answer |
Between |$75,001 |and |$80,000
A |lump |sum |contract |on |a |project |has |a |total |contract |price |of |$160,000. |Retainage |has |been |
held |back |at |10%. |The |contractor |has |received |progress |payments |for |75% |of |the |project. |The |
contractor |submits |a |request |for |final |payment |for |the |new |completed |project. |The |final |
payment |amount |should |be |for... |- |correct |answer |More |than |$50,000
A |non-exempt |employee |of |a |contractor |covered |by |the |Fair |Labor |Standards |Act |works |60 |
hours |during |a |workweek. |The |agreement |is |to |pay |the |employee |$400 |each |week |regardless |
of |the |numbers |of |hours |worked. |What |should |be |the |employee's |gross |pay |for |the |
worksheet? |- |correct |answer |$700.50
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answers
A |contractor |pays |a |workers' |compensation |rate |of |$0.08 |per |$100 |of |office |employee |payroll, |
$0.15 |per |$100 |of |field |supervisor |payroll, |and |$0.26 |per |$100 |of |field |employee |payroll. |Total |
office |employee |payroll |for |the |year |is |$25,000. |Total |field |supervisor |payroll |is |$48,000. |Total |
field |employee |payroll |is |$225,000. |The |contractor |receives |a |discount |of |5% |of |total |
premiums |for |having |a |safety |program |in |place. |The |total |workers' |compensation |for |the |year |
is... |- |correct |answer |More |than |$600
A |contractor |puts |in |a |claim |under |a |comprehensive |standard |general |liability |policy. |The |
policy |has |no |additional |coverage, |riders, |or |floaters, |and |has |a |$500 |deductible |per |
occurrence. |The |claim |is |for |a |job-site |accident |that |caused |$2,000 |of |injuries |to |employees, |
$1,800 |of |injuries |to |a |pedestrian, |$2,300 |damage |to |the |contractor's |equipment, |and |$1,750 |
loss |of |project |materials |purchased |by |the |contractor. |The |insurance |company |is |liable |for... |- |
correct |answer |$1,300
A |cost |plus |contract |calls |for |the |contractor |to |receive |direct |costs |for |labor |and |materials, |and
|a |markup |of |20% |of |direct |costs. |The |contractor |is |also |to |receive |a |bound |of |15% |of |savings |
if |total |cost |to |the |owner |is |less |than |$80,000, |and |a |bonus |of |$1,000 |per |day |if |the |project |is |
completed |early. |Final |costs |for |direct |labor |and |materials |are |$60,000. |The |project |is |
completed |3 |days |early. |What |is |the |total |amount |due |to |the |contractor? |- |correct |answer |
Between |$75,001 |and |$80,000
A |lump |sum |contract |on |a |project |has |a |total |contract |price |of |$160,000. |Retainage |has |been |
held |back |at |10%. |The |contractor |has |received |progress |payments |for |75% |of |the |project. |The |
contractor |submits |a |request |for |final |payment |for |the |new |completed |project. |The |final |
payment |amount |should |be |for... |- |correct |answer |More |than |$50,000
A |non-exempt |employee |of |a |contractor |covered |by |the |Fair |Labor |Standards |Act |works |60 |
hours |during |a |workweek. |The |agreement |is |to |pay |the |employee |$400 |each |week |regardless |
of |the |numbers |of |hours |worked. |What |should |be |the |employee's |gross |pay |for |the |
worksheet? |- |correct |answer |$700.50
