If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? - ANSWER
quarterly
How many employees does it take for the Fair Labor Act to be applied? - ANSWER 1
What accounting method records income when the service occurs and expense when they
are incurred? - ANSWER Accrual Method
What do the General Conditions of a contract do? - ANSWER Outline roles of the owner,
architect, and engineer.
You are purchasing an insurance policy with a monthly premium of $300. If you implement a
safety program you can save 10% on the cost of the policy. The safety program costs $400 to
start and $15 a month to maintain it. What would be the net difference in cost over three
year period with a safety program? - ANSWER Net saving of $140
Written construction contract change order should include a description of the modification
to be made, any change in contract time and - ANSWER The change in the contract dollar
amount
Which of the following is a written agreement between the owner and contractor to change
the contract? - ANSWER change order
What term identifies money withheld from progress payments to the contractor and paid
after the completion of the project? - ANSWER Retainage
1
, When is final payment due? - ANSWER Final inspection, acceptance by owner and sub-
mittal of proper documentation must occur
After hiring a disabled person, which of the following can't you do, according to the Ameri-
can with Disabilities Act? - ANSWER Require a medical examination of just the person you
suspect is disabled.
The percentage of completion method of accounting does what - ANSWER recognizes
profit as it is earned
Workers are on a job site where noise is very loud. Who is supposed to supply the workers
with ear protection? - ANSWER contractor (employer)
Where can you get accurate information about tax deposit schedules? - ANSWER IRS
Publication Circular E
Which of the following statements correctly describes the cash method of accounting? - AN-
SWER Income / expenses are recorded at the time they are received / paid
What type of workplace insurance provides all the benefits required by law for employees'
who are killed or injured as a result of their employment - ANSWER Workers Compensa-
tion
If an employee is covered by Workers Compensation in the state of Utah and is doing a job in
Colorado and gets injured, are they covered by Utah Workers Compensation? - ANSWER
Yes, the Utah fund would cover the employee but the employer should look into getting cov-
erage in state of Colorado also.
After the division receives an application for licensure, how many days does the division
have to decide whether to issue a license to that applicant? - ANSWER 5 days# NASLCA
2nd edition pg E-34 58-55-403
2
quarterly
How many employees does it take for the Fair Labor Act to be applied? - ANSWER 1
What accounting method records income when the service occurs and expense when they
are incurred? - ANSWER Accrual Method
What do the General Conditions of a contract do? - ANSWER Outline roles of the owner,
architect, and engineer.
You are purchasing an insurance policy with a monthly premium of $300. If you implement a
safety program you can save 10% on the cost of the policy. The safety program costs $400 to
start and $15 a month to maintain it. What would be the net difference in cost over three
year period with a safety program? - ANSWER Net saving of $140
Written construction contract change order should include a description of the modification
to be made, any change in contract time and - ANSWER The change in the contract dollar
amount
Which of the following is a written agreement between the owner and contractor to change
the contract? - ANSWER change order
What term identifies money withheld from progress payments to the contractor and paid
after the completion of the project? - ANSWER Retainage
1
, When is final payment due? - ANSWER Final inspection, acceptance by owner and sub-
mittal of proper documentation must occur
After hiring a disabled person, which of the following can't you do, according to the Ameri-
can with Disabilities Act? - ANSWER Require a medical examination of just the person you
suspect is disabled.
The percentage of completion method of accounting does what - ANSWER recognizes
profit as it is earned
Workers are on a job site where noise is very loud. Who is supposed to supply the workers
with ear protection? - ANSWER contractor (employer)
Where can you get accurate information about tax deposit schedules? - ANSWER IRS
Publication Circular E
Which of the following statements correctly describes the cash method of accounting? - AN-
SWER Income / expenses are recorded at the time they are received / paid
What type of workplace insurance provides all the benefits required by law for employees'
who are killed or injured as a result of their employment - ANSWER Workers Compensa-
tion
If an employee is covered by Workers Compensation in the state of Utah and is doing a job in
Colorado and gets injured, are they covered by Utah Workers Compensation? - ANSWER
Yes, the Utah fund would cover the employee but the employer should look into getting cov-
erage in state of Colorado also.
After the division receives an application for licensure, how many days does the division
have to decide whether to issue a license to that applicant? - ANSWER 5 days# NASLCA
2nd edition pg E-34 58-55-403
2
