1
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VA Contractors: General (Class A or B)
Questions and Answers (100% Correct
Answers) Already Graded A+
Which of the following estimating methods is typically used by the
architect rather than the contractor? [ ANS: ] Conceptual
estimate
An agreement that calls for a contractor to be paid actual costs
for labor and materials plus a fixed fee for the contractor's
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overhead and profit is called a... [ ANS: ] cost plus contract
Equipment needs for a project are BEST estimated by... [ ANS: ]
Calculating the number of hours or days it is needed
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What type of insurance is needed for a partnership to insure that
the business does NOT go out of business if one partner dies? [
ANS: ] Key man
An owner hires a construction manager for a project. Which of the
following is TRUE with regard to subcontractors? [ ANS: ] The
subcontractors are prime contractors
What protects a contractor from risk? [ ANS: ] Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... [
ANS: ] Identifies activities that MUST be completed before other
activities can occur
What may be covered by an allowance in a contract? [ ANS: ]
Light fixture costs
Which of the following is considered ethical behavior? [ ANS: ]
Failing to disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on
Form... [ ANS: ] 1099
, 2
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The BEST business practice for special-ordered materials is to... [
ANS: ] put the order requirements in writing
A contract refers to an insurance agreement that the contractor is
REQUIRED to have. This is considered... [ ANS: ] Part of the contract
Records of an employee's exposure to hazardous materials MUST
be kept a MINIMUM of how many years? [ ANS: ] 30 years
AT LEAST how often should employees watch for possible hazards
at the job site? [ ANS: ] constantly
An employee can request to receive advance earned income
© 2025 Assignment Expert
credit on Form... [ ANS: ] W-5
A contractor uses funds paid by a project owner to purchase
materials to start a different project. The laborers for the original
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project do NOT get paid by the contractor. Under the lien law, this
is considered... [ ANS: ] Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in
estimating labor for a project? [ ANS: ] Labor burden
What MUST be included in an estimate for a job? [ ANS: ]
Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are... [ ANS: ] offer,
acceptance, and consideration
At LEAST how often MUST an employee report information on the
number of employees and the number of new hires in order to
meet the requirements of the Child Support Enforcement Act? [
ANS: ] every 2 months
Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered... [ ANS: ] Project
overhead
For Expert help and assignment solutions, +254707240657
VA Contractors: General (Class A or B)
Questions and Answers (100% Correct
Answers) Already Graded A+
Which of the following estimating methods is typically used by the
architect rather than the contractor? [ ANS: ] Conceptual
estimate
An agreement that calls for a contractor to be paid actual costs
for labor and materials plus a fixed fee for the contractor's
© 2025 Assignment Expert
overhead and profit is called a... [ ANS: ] cost plus contract
Equipment needs for a project are BEST estimated by... [ ANS: ]
Calculating the number of hours or days it is needed
Guru01 - Stuvia
What type of insurance is needed for a partnership to insure that
the business does NOT go out of business if one partner dies? [
ANS: ] Key man
An owner hires a construction manager for a project. Which of the
following is TRUE with regard to subcontractors? [ ANS: ] The
subcontractors are prime contractors
What protects a contractor from risk? [ ANS: ] Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... [
ANS: ] Identifies activities that MUST be completed before other
activities can occur
What may be covered by an allowance in a contract? [ ANS: ]
Light fixture costs
Which of the following is considered ethical behavior? [ ANS: ]
Failing to disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on
Form... [ ANS: ] 1099
, 2
For Expert help and assignment solutions, +254707240657
The BEST business practice for special-ordered materials is to... [
ANS: ] put the order requirements in writing
A contract refers to an insurance agreement that the contractor is
REQUIRED to have. This is considered... [ ANS: ] Part of the contract
Records of an employee's exposure to hazardous materials MUST
be kept a MINIMUM of how many years? [ ANS: ] 30 years
AT LEAST how often should employees watch for possible hazards
at the job site? [ ANS: ] constantly
An employee can request to receive advance earned income
© 2025 Assignment Expert
credit on Form... [ ANS: ] W-5
A contractor uses funds paid by a project owner to purchase
materials to start a different project. The laborers for the original
Guru01 - Stuvia
project do NOT get paid by the contractor. Under the lien law, this
is considered... [ ANS: ] Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in
estimating labor for a project? [ ANS: ] Labor burden
What MUST be included in an estimate for a job? [ ANS: ]
Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are... [ ANS: ] offer,
acceptance, and consideration
At LEAST how often MUST an employee report information on the
number of employees and the number of new hires in order to
meet the requirements of the Child Support Enforcement Act? [
ANS: ] every 2 months
Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered... [ ANS: ] Project
overhead
