NASCLA CONTRACTOR'S GUIDE EXAM QUESTIONS AND
ANSWERS GRADED A+ 100% VERIFIED.
The standard industry mark-up is? ANS >>> 15%
- Bus Law & Prodi Mgmt. pg. 7-7
Which of the following is important to consider in order to avoid
inaccuracies when making an accurate project estimate?
A) Units of measure
B) Time involved
C) Overhead Costs
D) Productivity time ANS >>> A) Units of measure
- Bus Law & Prodi Mgmt. pg. 6-8
A crucial drawback of a ________ is double taxation. ANS >>> C Corp
Class B fires are flammable liquids and require a special type of
extinguisher to control them. Which of the following are considered
Class B Extinguishers?
,A) Foam
B) Carbon Dioxide
C) Dry chemical
D) All of the above ANS >>> D)
- OSHA 1926.150 Table F-, pg. 213
Form _______ is mandatory to be assigned as an S Corporation. ANS >>>
Form 2553, know as the sub chapter S election. Filing this form can be
used to convert a C Corp to and S Corp
- Bus Law & Prodi Mgmt. pg. 2-7
_________ insurance will protect against movable machinery left at the
location or while being transported. ANS >>> Equipment Floater
Class ____ fires are considered ordinary combustibles.
A) A
B) B
C) C
D) D ANS >>> A) Class A
- OSHA 1926.150 Table F-1, pg. 213
, A _____ bond promises the person building will complete the job for
the amount quoted, will sign the agreement and will provide _____ and
_____ bond. ANS >>> Bid bond, Performance and Payment
- Bus Law & Prodi Mgmt. pg. 4-8
A ______ bond guarantees the owner that the contract work will be
completed according to its terms including price and time. ANS >>>
Performance bond
- Bus Law & Prodi Mgmt. pg. 4-8
The Miller Act calls for ______ and ______ bonds for all Federal projects
costing more than $100,000. ANS >>> Performance and Payment bonds
- Bus Law & Prodi Mgmt. pg. 4-9
A _______ bond promises to subcontractors and vendors they will be
compensated for their efforts and materials. ANS >>> Payment bond
- Bus Law & Prodi Mgmt. pg. 4-9
There are _____ parts of a contract ANS >>> 4 parts - Offer and
Acceptance
- Consideration
- Competent Parties
- Legal Purpose
ANSWERS GRADED A+ 100% VERIFIED.
The standard industry mark-up is? ANS >>> 15%
- Bus Law & Prodi Mgmt. pg. 7-7
Which of the following is important to consider in order to avoid
inaccuracies when making an accurate project estimate?
A) Units of measure
B) Time involved
C) Overhead Costs
D) Productivity time ANS >>> A) Units of measure
- Bus Law & Prodi Mgmt. pg. 6-8
A crucial drawback of a ________ is double taxation. ANS >>> C Corp
Class B fires are flammable liquids and require a special type of
extinguisher to control them. Which of the following are considered
Class B Extinguishers?
,A) Foam
B) Carbon Dioxide
C) Dry chemical
D) All of the above ANS >>> D)
- OSHA 1926.150 Table F-, pg. 213
Form _______ is mandatory to be assigned as an S Corporation. ANS >>>
Form 2553, know as the sub chapter S election. Filing this form can be
used to convert a C Corp to and S Corp
- Bus Law & Prodi Mgmt. pg. 2-7
_________ insurance will protect against movable machinery left at the
location or while being transported. ANS >>> Equipment Floater
Class ____ fires are considered ordinary combustibles.
A) A
B) B
C) C
D) D ANS >>> A) Class A
- OSHA 1926.150 Table F-1, pg. 213
, A _____ bond promises the person building will complete the job for
the amount quoted, will sign the agreement and will provide _____ and
_____ bond. ANS >>> Bid bond, Performance and Payment
- Bus Law & Prodi Mgmt. pg. 4-8
A ______ bond guarantees the owner that the contract work will be
completed according to its terms including price and time. ANS >>>
Performance bond
- Bus Law & Prodi Mgmt. pg. 4-8
The Miller Act calls for ______ and ______ bonds for all Federal projects
costing more than $100,000. ANS >>> Performance and Payment bonds
- Bus Law & Prodi Mgmt. pg. 4-9
A _______ bond promises to subcontractors and vendors they will be
compensated for their efforts and materials. ANS >>> Payment bond
- Bus Law & Prodi Mgmt. pg. 4-9
There are _____ parts of a contract ANS >>> 4 parts - Offer and
Acceptance
- Consideration
- Competent Parties
- Legal Purpose
