Louisiana Business and Law
______ is while the owner of a house is accepting the threat related to the project, rather
than the general contractor. - ANS-Wrap-up Liability coverage
_______ writes off the depreciable cost of an asset at a uniform charge at some stage in its
usable life. - ANS-Straight-line depreciation
________ may be introduced into an estimate to cover unexpected fees. - ANS-Contingency
prices
____________are reasonable estimates of finances set aside for a particular object in a
project (consisting of lighting). The contractor is not held to that fee. - ANS-Allowances
A _________ provides potential investors with a concrete description of your successes and
qualifications. - ANS-business plan
A ___________ is the person that contracts immediately with the owner. - ANS-General
contractor
A ____________ is while the terms of the contract were violated to the volume that the
agreement can no longer be legitimate. - ANS-cloth breach
A bond that insures that the activities on a production mission are similar to the intended
sports for which the allow changed into granted is referred to as a ___________ -
ANS-Permit Bond
A enterprise's modern-day property are $100,000, and the overall liabilities are $50,000.
What is the internet operating capital of this organization? - ANS-$50,000
A whole listing of all the materials and items of work that might be required to complete a
challenge are ______ - ANS-amount surveys (take off)
A contractor is someone that works on a assignment worth ______ or extra for industrial
purposes apart from residential duplexes, tri-plexes or 4-plexes. - ANS-$50,000
A contractor is submitting a development payment request on a $357,000 contract. The
contractor has formerly been paid $a hundred and ten,000 and the owner has a ten%
retainage settlement. The undertaking is now 50% whole. How a good deal ought to the
contractor anticipate to get hold of after retainage is implemented to the net billing? -
ANS-$sixty one,650
A contractor must no longer handiest consider the prices of system had to build the mission,
whether owned or rented, but also the working/protection fees, restore of, storage, transport,
finance cost, insurance, and taxes. - ANS-true
, A contractor that works on a preexisting proprietor occupied constructing is taken into
consideration a _________ . - ANS-Home development contractor
A contractor who is unlicensed can be located responsible of a misdemeanor, and fined as
much as ________. - ANS-$500 per day of the violation
A contractor who opts to location his license in an inactive popularity should still publish
evidence of insurance insurance. - ANS-False
A essential path schedule will be evolved with the aid of the use of a calendar. - ANS-fake
A widespread contractor who is gotten smaller for a private assignment this is valued at
more than _______ ought to record a Notice of Contract prior to starting paintings. -
ANS-$25,000
A guarantee that a contractor will pay positive subcontractors, laborers, and cloth suppliers
associated with the mission could be called a________ - ANS-price bond
A home development contractor is required to sign up with the Residential Building
Contractors Subcommittee. - ANS-True
A domestic development task , in excess of _______ MUST have a written agreement
between the contractor and the proprietor. - ANS-$7,500
A National Pollutant Discharge Elimination System (NPDES) Storm Water allow is required
for tasks in which ______ acres of land can be disturbed. - ANS-1-5
A Performance Bond guarantees that the contractor will whole the undertaking consistent
with the contract plans and phrases. - ANS-genuine
A project has an estimated hard work fee of $162,500 and an estimated material fee of
$225,100, challenge overhead is envisioned at five% of each exertions and material fee and
assigned business enterprise overhead of one.Five% of material value. If the agreement is
written for $425,000, what profit margin is the contractor waiting for to make? - ANS-3.44%
A qualifying birthday party can be which of the subsequent: - ANS-A co-accomplice
A stockholder
An employee who has been with the agency as a minimum one hundred twenty days
All of the above
A residential contractor is one who constructs a fixed shape when the fee exceeds
_________. - ANS-$seventy five,000
A residential contractor should whole a minimum of _____ of persevering with education
consistent with year. - ANS-6 hours
______ is while the owner of a house is accepting the threat related to the project, rather
than the general contractor. - ANS-Wrap-up Liability coverage
_______ writes off the depreciable cost of an asset at a uniform charge at some stage in its
usable life. - ANS-Straight-line depreciation
________ may be introduced into an estimate to cover unexpected fees. - ANS-Contingency
prices
____________are reasonable estimates of finances set aside for a particular object in a
project (consisting of lighting). The contractor is not held to that fee. - ANS-Allowances
A _________ provides potential investors with a concrete description of your successes and
qualifications. - ANS-business plan
A ___________ is the person that contracts immediately with the owner. - ANS-General
contractor
A ____________ is while the terms of the contract were violated to the volume that the
agreement can no longer be legitimate. - ANS-cloth breach
A bond that insures that the activities on a production mission are similar to the intended
sports for which the allow changed into granted is referred to as a ___________ -
ANS-Permit Bond
A enterprise's modern-day property are $100,000, and the overall liabilities are $50,000.
What is the internet operating capital of this organization? - ANS-$50,000
A whole listing of all the materials and items of work that might be required to complete a
challenge are ______ - ANS-amount surveys (take off)
A contractor is someone that works on a assignment worth ______ or extra for industrial
purposes apart from residential duplexes, tri-plexes or 4-plexes. - ANS-$50,000
A contractor is submitting a development payment request on a $357,000 contract. The
contractor has formerly been paid $a hundred and ten,000 and the owner has a ten%
retainage settlement. The undertaking is now 50% whole. How a good deal ought to the
contractor anticipate to get hold of after retainage is implemented to the net billing? -
ANS-$sixty one,650
A contractor must no longer handiest consider the prices of system had to build the mission,
whether owned or rented, but also the working/protection fees, restore of, storage, transport,
finance cost, insurance, and taxes. - ANS-true
, A contractor that works on a preexisting proprietor occupied constructing is taken into
consideration a _________ . - ANS-Home development contractor
A contractor who is unlicensed can be located responsible of a misdemeanor, and fined as
much as ________. - ANS-$500 per day of the violation
A contractor who opts to location his license in an inactive popularity should still publish
evidence of insurance insurance. - ANS-False
A essential path schedule will be evolved with the aid of the use of a calendar. - ANS-fake
A widespread contractor who is gotten smaller for a private assignment this is valued at
more than _______ ought to record a Notice of Contract prior to starting paintings. -
ANS-$25,000
A guarantee that a contractor will pay positive subcontractors, laborers, and cloth suppliers
associated with the mission could be called a________ - ANS-price bond
A home development contractor is required to sign up with the Residential Building
Contractors Subcommittee. - ANS-True
A domestic development task , in excess of _______ MUST have a written agreement
between the contractor and the proprietor. - ANS-$7,500
A National Pollutant Discharge Elimination System (NPDES) Storm Water allow is required
for tasks in which ______ acres of land can be disturbed. - ANS-1-5
A Performance Bond guarantees that the contractor will whole the undertaking consistent
with the contract plans and phrases. - ANS-genuine
A project has an estimated hard work fee of $162,500 and an estimated material fee of
$225,100, challenge overhead is envisioned at five% of each exertions and material fee and
assigned business enterprise overhead of one.Five% of material value. If the agreement is
written for $425,000, what profit margin is the contractor waiting for to make? - ANS-3.44%
A qualifying birthday party can be which of the subsequent: - ANS-A co-accomplice
A stockholder
An employee who has been with the agency as a minimum one hundred twenty days
All of the above
A residential contractor is one who constructs a fixed shape when the fee exceeds
_________. - ANS-$seventy five,000
A residential contractor should whole a minimum of _____ of persevering with education
consistent with year. - ANS-6 hours
