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Roofing contractor license Questions with 100%
Verified Answers UPDATED!!!
According to Florida construction lien laws, which of the
following is considered an improper payment by an owner to a
contractor?
A. A payment made before notice of commencement expires
B. Before any notice to owner is received
C. After a notice to owner had been served and a waiver of
release has been obtained by the owner
D. Payment made by the owner after a notice to owner has
been served and before a waiver of release has been obtained
by the owner - ANSWER D. Payments made by the owner after a
notice to owner has been served and before a waiver of release
has been obtained by the owner
Before beginning to depreciate an asset, a contractor must
determine all of the following except the....?
A. Basis for depreciate, general cost
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B. Maintenance and repair costs
C. Recovering period, I.e. time period for which depreciation
can be taken
D. Date the assets was placed into service
- ANSWER B. Maintenance and repair costs
A current ratio of 1.5 to 1 means that the.....?
A. Current assets are 1-1/2 times the current equity
B. Current liabilities are 1-1/2 times the current equity
C. Current assets are 1- 1/2 times the current liabilities
D. Current liabilities are 1-1/2 times the current assets -
ANSWER C. Current assets are 1-1/2 times the current liabilities
When pulling a building permit, a copy of the______ will be
filed with the permitting authority.
A. Notice of commencement
B. Notice of lien
C. Notice of owner
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D. Notice to bonding company - ANSWER A. Notice of
commencement
A claimant who is not in privity with the contractor and who has
not received payment for his or her labor, services, or material,
must serve a notice of nonpayment on both the contractor and
surety within _____ days of the last furnishing of labor, services
or materials to the project.
A. 30
B. 60
C. 90
D. 120 - ANSWER C. 90
When a contractor writes off the expenses of a piece of
equipment over time, that process is called:
A. Accelerated depreciation
B. Depreciating a fixed asset
C. Depreciation of intangible property
Roofing contractor license Questions with 100%
Verified Answers UPDATED!!!
According to Florida construction lien laws, which of the
following is considered an improper payment by an owner to a
contractor?
A. A payment made before notice of commencement expires
B. Before any notice to owner is received
C. After a notice to owner had been served and a waiver of
release has been obtained by the owner
D. Payment made by the owner after a notice to owner has
been served and before a waiver of release has been obtained
by the owner - ANSWER D. Payments made by the owner after a
notice to owner has been served and before a waiver of release
has been obtained by the owner
Before beginning to depreciate an asset, a contractor must
determine all of the following except the....?
A. Basis for depreciate, general cost
,2|Page
B. Maintenance and repair costs
C. Recovering period, I.e. time period for which depreciation
can be taken
D. Date the assets was placed into service
- ANSWER B. Maintenance and repair costs
A current ratio of 1.5 to 1 means that the.....?
A. Current assets are 1-1/2 times the current equity
B. Current liabilities are 1-1/2 times the current equity
C. Current assets are 1- 1/2 times the current liabilities
D. Current liabilities are 1-1/2 times the current assets -
ANSWER C. Current assets are 1-1/2 times the current liabilities
When pulling a building permit, a copy of the______ will be
filed with the permitting authority.
A. Notice of commencement
B. Notice of lien
C. Notice of owner
, 3|Page
D. Notice to bonding company - ANSWER A. Notice of
commencement
A claimant who is not in privity with the contractor and who has
not received payment for his or her labor, services, or material,
must serve a notice of nonpayment on both the contractor and
surety within _____ days of the last furnishing of labor, services
or materials to the project.
A. 30
B. 60
C. 90
D. 120 - ANSWER C. 90
When a contractor writes off the expenses of a piece of
equipment over time, that process is called:
A. Accelerated depreciation
B. Depreciating a fixed asset
C. Depreciation of intangible property
