ADVANCED PORTION EXAM
QUESTIONS AND ANSWERS
Which-of-these-is-the-traditional-form-of-contracting-method?---ans-✔✔Single-Prime
What-is-the-Virginia-sales-tax-rate-a-combination-of-?---ans-✔✔4-percent-state-tax-and-1-
percent-local
What-is-the-difference-between-fixed-and-current-assets?---ans-✔✔Current-assets-can-be-
converted-into-cash-or-already-are-cash,-fixed-assets-are-not-converted
Which-of-these-forms-is-NOT-required-to-be-in-an-employee-file?---ans-✔✔A-bid-for-a-
project
If-a-companys-current-assets-are-$12,000,-inventory-is-$2,000,-and-current-liabilities-are-
$6,000,-then-what-is-the-Liquidity-Ration-of-the-company?---ans-✔✔2
In-the-______-method-of-construction,-the-construction-manager-will-manage,-
coordinate,-and-supervise-the-entire-construction-process.---ans-✔✔Construction-
Management
If-a-company-has-a-total-payroll-tax-liability-of-$50,000-or-less-for-the-four-previous-
quarters,-what-kind-of-deposit-schedule-does-it-adhere-to?---ans-✔✔Monthly
What-can-a-post-job-offer-medical-examination-accomplish?---ans-✔✔Determine-
whether-the-individual-would-be-a-direct-threat-to-the-health-and-safety-of-the-workplace
At-what-point-does-a-contractor-decided-to-bid-upon-a-project?---ans-✔✔After-receiving-
and-invitation-to-bid
If-a-contractor-has-$400,000-in-current-assets-and-$300,000-in-current-liabilities,-what-is-
the-bond-capacity?---ans-✔✔100,000
What-is-the-definition-of-current-liability?---ans-✔✔Any-money-owed-by-the-contracting-
company-that-must-be-paid-within-one-year
Which-of-these-is-considered-a-material-breach?---ans-✔✔When-the-contractors-refuses-
to-build
QUESTIONS AND ANSWERS
Which-of-these-is-the-traditional-form-of-contracting-method?---ans-✔✔Single-Prime
What-is-the-Virginia-sales-tax-rate-a-combination-of-?---ans-✔✔4-percent-state-tax-and-1-
percent-local
What-is-the-difference-between-fixed-and-current-assets?---ans-✔✔Current-assets-can-be-
converted-into-cash-or-already-are-cash,-fixed-assets-are-not-converted
Which-of-these-forms-is-NOT-required-to-be-in-an-employee-file?---ans-✔✔A-bid-for-a-
project
If-a-companys-current-assets-are-$12,000,-inventory-is-$2,000,-and-current-liabilities-are-
$6,000,-then-what-is-the-Liquidity-Ration-of-the-company?---ans-✔✔2
In-the-______-method-of-construction,-the-construction-manager-will-manage,-
coordinate,-and-supervise-the-entire-construction-process.---ans-✔✔Construction-
Management
If-a-company-has-a-total-payroll-tax-liability-of-$50,000-or-less-for-the-four-previous-
quarters,-what-kind-of-deposit-schedule-does-it-adhere-to?---ans-✔✔Monthly
What-can-a-post-job-offer-medical-examination-accomplish?---ans-✔✔Determine-
whether-the-individual-would-be-a-direct-threat-to-the-health-and-safety-of-the-workplace
At-what-point-does-a-contractor-decided-to-bid-upon-a-project?---ans-✔✔After-receiving-
and-invitation-to-bid
If-a-contractor-has-$400,000-in-current-assets-and-$300,000-in-current-liabilities,-what-is-
the-bond-capacity?---ans-✔✔100,000
What-is-the-definition-of-current-liability?---ans-✔✔Any-money-owed-by-the-contracting-
company-that-must-be-paid-within-one-year
Which-of-these-is-considered-a-material-breach?---ans-✔✔When-the-contractors-refuses-
to-build
