VIRGINIA HIC EXAM (HOME IMPROVEMENT EXAM)
QUESTIONS WITH COMPLETE SOLUTIONS!!
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of
license? - -answer-$500 fine per day for each day of violation plus penalties for a misdemeanor.
What is the total value of current assets for an accrual basis company that has the following? Checking
account cash balance is $4,800; materials inventory for work-in-progress is $4,200; a pick-up truck that
cost $12,460 - paid for with $2,460 in cash and a note for $10,000 - and is used 100% in the business;
accounts receivable is $5,700; suppliers' accounts payable is $6,300; other accounts payable is $2,200;
and quarterly income tax payment due is $1,180. - -answer-Between $12,000 and $16,000.
Where would depreciation of equipment first be entered? - -answer-General journal.
What is the average collection period ratio for a firm that has $365,000 in annual revenues, $6,600 in
current receivables, and net income of $32,000? - -answer-6.6
For 1 month a company bills out $38,000 in completed work, and receives $22,000 in payments plus
$8,000 from the previous month's billings. They pay their total bill of $26,000 to supply houses for this
month's purchases, and another $5,000 to supply houses for last month's purchases. Using a cash
accounting method and NOT considering any other revenue or expenses, what is the company's net
income for the month? - -answer-Loss of $1,000.
How much state income tax MUST be paid by a corporation that has $30,000 of Federal taxable income?
The company deducted $2,000 of state and local taxes on the Federal return, and had $2,000 of
qualified worker retraining expenses. The corporation does business ONLY in Virginia. - -answer-$1,080
,What percent should the employer withhold for Virginia withholding for an employee who is to receive
a separate supplemental payment for vacation? The employer is using a flat percentage rate. - -answer-
5.75%
What would be the total amount of Medicare and Social Security taxes that the employer should
withhold on the last week of the year from an employee who earns $3,000 per week and has worked for
the employer the entire year? - -answer-$43.50
How much is an employer who withheld employee Medicare and Social Security taxes or $765
REQUIRED to send to the IRS? - -answer-$1,530
What is the MAXIMUM amount of a lien that can be claimed by a subcontractor who notifies the lien
agent for a two-family residential property on August 1 that the subcontractor first provided labor and
materials on the project on May 1? The subcontractor billed the general contractor for $4,000 per
month, through September 30, and was never paid. - -answer-$8,000
A simple set of cleat stairs will be installed in a basement. The distance between the basement floor and
the first floor is 8 feet. How many treads will be REQUIRED for these stairs? - -answer-13
A set of plans drawn in 1/4 inch = 1 foot scale will show a structure - -answer-1/48 actual size.
What are batter boards? - -answer-Stakes and ledger boards marking building lines
A building has an area of 3,350 square feet and a roof slope of 3 in 12. The roof is to be covered with
composite shingles at three bundles per square which can be purchased only by the whole bundle. To
convert from plan area to actual roof area, use the following table: SLOPE MULTIPLY PLAN AREA BY 2 in
12 1. in 12 1. in 12 1. in 12 1. in 12 1. in 12 1. in 12 1.
in 12 1.414 How many bundles of shingles are REQUIRED to roof the building? Do NOT make an
allowance for waste, hips, valleys or starter courses. - -answer-Between 100 and 105.
Refer to Figure MA0242. If the drawing is rectangular (all corners are 90-degree angles), then the length
of line - -answer-AC equals the length of line DB.
, A plank measures 3" x 16" and is 24 feet long. How many board feet of lumber are in 26 of these planks?
(Round off to the nearest whole number.) - -answer-2,496
The following is from the restrictive covenants on a customer's lot. 1. No detached single-family dwelling
unit or any part thereof shall be erected nearer than 25 feet to any front lot line or side street lot line. 2.
No building shall be erected nearer than 10 feet to any interior side lot line. How close can a home be
placed to the front of the lot? - -answer-25 feet.
The first step that needs to be taken prior to starting any excavation work is - -answer-contacting the
local utility companies.
A positive drainage slope away from a house foundation of 5% is equal to a - -answer-6-inch drop in 10
feet.
What is the amount of soil (in cubic yards) that should be removed from a 2' x 300' x 4' building trench
excavation? - -answer-89 cubic yards.
Before excavating for a new building, subsoil conditions should be determined by - -answer-conducting
test borings.
What is the MINIMUM grade fall away from foundation walls? - -answer-6 inches within the first 10
feet.
A 140-foot wide paved area is to be sloped 1/8 inch per foot. The elevation at the highest point is to be
87.2 feet at the center. What is the elevation at the lowest point at the perimeter? - -answer-86.50 feet.
Increasing the slump of concrete - -answer-increases its wetness.
The amount of water per sack of cement is what controls all EXCEPT - -answer-set up speed
What is the allowable MINIMUM specified compressive strength for concrete in foundations NOT
exposed to weather? - -answer-2,500 psi
QUESTIONS WITH COMPLETE SOLUTIONS!!
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of
license? - -answer-$500 fine per day for each day of violation plus penalties for a misdemeanor.
What is the total value of current assets for an accrual basis company that has the following? Checking
account cash balance is $4,800; materials inventory for work-in-progress is $4,200; a pick-up truck that
cost $12,460 - paid for with $2,460 in cash and a note for $10,000 - and is used 100% in the business;
accounts receivable is $5,700; suppliers' accounts payable is $6,300; other accounts payable is $2,200;
and quarterly income tax payment due is $1,180. - -answer-Between $12,000 and $16,000.
Where would depreciation of equipment first be entered? - -answer-General journal.
What is the average collection period ratio for a firm that has $365,000 in annual revenues, $6,600 in
current receivables, and net income of $32,000? - -answer-6.6
For 1 month a company bills out $38,000 in completed work, and receives $22,000 in payments plus
$8,000 from the previous month's billings. They pay their total bill of $26,000 to supply houses for this
month's purchases, and another $5,000 to supply houses for last month's purchases. Using a cash
accounting method and NOT considering any other revenue or expenses, what is the company's net
income for the month? - -answer-Loss of $1,000.
How much state income tax MUST be paid by a corporation that has $30,000 of Federal taxable income?
The company deducted $2,000 of state and local taxes on the Federal return, and had $2,000 of
qualified worker retraining expenses. The corporation does business ONLY in Virginia. - -answer-$1,080
,What percent should the employer withhold for Virginia withholding for an employee who is to receive
a separate supplemental payment for vacation? The employer is using a flat percentage rate. - -answer-
5.75%
What would be the total amount of Medicare and Social Security taxes that the employer should
withhold on the last week of the year from an employee who earns $3,000 per week and has worked for
the employer the entire year? - -answer-$43.50
How much is an employer who withheld employee Medicare and Social Security taxes or $765
REQUIRED to send to the IRS? - -answer-$1,530
What is the MAXIMUM amount of a lien that can be claimed by a subcontractor who notifies the lien
agent for a two-family residential property on August 1 that the subcontractor first provided labor and
materials on the project on May 1? The subcontractor billed the general contractor for $4,000 per
month, through September 30, and was never paid. - -answer-$8,000
A simple set of cleat stairs will be installed in a basement. The distance between the basement floor and
the first floor is 8 feet. How many treads will be REQUIRED for these stairs? - -answer-13
A set of plans drawn in 1/4 inch = 1 foot scale will show a structure - -answer-1/48 actual size.
What are batter boards? - -answer-Stakes and ledger boards marking building lines
A building has an area of 3,350 square feet and a roof slope of 3 in 12. The roof is to be covered with
composite shingles at three bundles per square which can be purchased only by the whole bundle. To
convert from plan area to actual roof area, use the following table: SLOPE MULTIPLY PLAN AREA BY 2 in
12 1. in 12 1. in 12 1. in 12 1. in 12 1. in 12 1. in 12 1.
in 12 1.414 How many bundles of shingles are REQUIRED to roof the building? Do NOT make an
allowance for waste, hips, valleys or starter courses. - -answer-Between 100 and 105.
Refer to Figure MA0242. If the drawing is rectangular (all corners are 90-degree angles), then the length
of line - -answer-AC equals the length of line DB.
, A plank measures 3" x 16" and is 24 feet long. How many board feet of lumber are in 26 of these planks?
(Round off to the nearest whole number.) - -answer-2,496
The following is from the restrictive covenants on a customer's lot. 1. No detached single-family dwelling
unit or any part thereof shall be erected nearer than 25 feet to any front lot line or side street lot line. 2.
No building shall be erected nearer than 10 feet to any interior side lot line. How close can a home be
placed to the front of the lot? - -answer-25 feet.
The first step that needs to be taken prior to starting any excavation work is - -answer-contacting the
local utility companies.
A positive drainage slope away from a house foundation of 5% is equal to a - -answer-6-inch drop in 10
feet.
What is the amount of soil (in cubic yards) that should be removed from a 2' x 300' x 4' building trench
excavation? - -answer-89 cubic yards.
Before excavating for a new building, subsoil conditions should be determined by - -answer-conducting
test borings.
What is the MINIMUM grade fall away from foundation walls? - -answer-6 inches within the first 10
feet.
A 140-foot wide paved area is to be sloped 1/8 inch per foot. The elevation at the highest point is to be
87.2 feet at the center. What is the elevation at the lowest point at the perimeter? - -answer-86.50 feet.
Increasing the slump of concrete - -answer-increases its wetness.
The amount of water per sack of cement is what controls all EXCEPT - -answer-set up speed
What is the allowable MINIMUM specified compressive strength for concrete in foundations NOT
exposed to weather? - -answer-2,500 psi
