VIRGINIA HOME IMPROVEMENT
CONTRACTING FINAL SCRIPT 2026
QUESTIONS WITH ANSWERS GRADED A+
◉Required to be in a home improvement contract. Answer:
consumer notice that gives telephone number for Commission
◉Required to be in a home improvement contract. Answer: notice of
formal mediation of disputes, that the MHIC administers the
guaranty fund, homeowner may request that contractor purchase
performance bond
◉Required to be in a home improvement contract. Answer: dates of
when performance will begin and when it will be substantially
completed
◉Required to be in a home improvement contract. Answer:
description of home improvement
◉Required to be in a home improvement contract. Answer: deposit,
payment, and contractor cannot accept more than 1/3 of contract
price as deposit
, ◉Required to be on the first page of contract. Answer: "this contract
creates a mortgage or lien on the property to secure payment and
may cause a loss of your property if you fail to pay the amount
agreed upon"
◉If a contract contains a mandatory arbitration clause it must
include. Answer: the name of the person or organization that will
conduct an arbitration
◉If a contract contains a mandatory arbitration clause it must
include. Answer: whether any mandatory fees will be charged to the
parties for the arbitration
◉If a contract contains a mandatory arbitration clause it must
include. Answer: a list of the fee schedule
◉If a contract contains a mandatory arbitration clause it must
include. Answer: whether the arbitrator's findings are binding
◉If a contract contains a mandatory arbitration clause it must
include. Answer: a disclosure that a claim against the guaranty fund
will be stayed until completion of mandatory arbitration
CONTRACTING FINAL SCRIPT 2026
QUESTIONS WITH ANSWERS GRADED A+
◉Required to be in a home improvement contract. Answer:
consumer notice that gives telephone number for Commission
◉Required to be in a home improvement contract. Answer: notice of
formal mediation of disputes, that the MHIC administers the
guaranty fund, homeowner may request that contractor purchase
performance bond
◉Required to be in a home improvement contract. Answer: dates of
when performance will begin and when it will be substantially
completed
◉Required to be in a home improvement contract. Answer:
description of home improvement
◉Required to be in a home improvement contract. Answer: deposit,
payment, and contractor cannot accept more than 1/3 of contract
price as deposit
, ◉Required to be on the first page of contract. Answer: "this contract
creates a mortgage or lien on the property to secure payment and
may cause a loss of your property if you fail to pay the amount
agreed upon"
◉If a contract contains a mandatory arbitration clause it must
include. Answer: the name of the person or organization that will
conduct an arbitration
◉If a contract contains a mandatory arbitration clause it must
include. Answer: whether any mandatory fees will be charged to the
parties for the arbitration
◉If a contract contains a mandatory arbitration clause it must
include. Answer: a list of the fee schedule
◉If a contract contains a mandatory arbitration clause it must
include. Answer: whether the arbitrator's findings are binding
◉If a contract contains a mandatory arbitration clause it must
include. Answer: a disclosure that a claim against the guaranty fund
will be stayed until completion of mandatory arbitration
