Virginia Contractors A & B License 2026–2027 Update – Calculation Study Guide & Practice Questions

Virginia Contractors A & B License – Calculation Study Guide 2026–2027 Page 1 Virginia Contractors A & B License – Calculation Study Guide 2026–2027.pdf




Virginia Contractors A & B
License – Calculation
Study Guide 2026–2027




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Virginia Contractors A & B License – Calculation Study Guide 2026–2027.pdf Page 1 2026-03-31

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Terms in this set (23)



The owner requests changes which will cost the B. $2,112
contractor $2,500 in labor and materials and $700 in
overhead costs. With the change, the contractor
would be relieved of $1,000 in labor costs and $280
in overhead costs from the original contract. The
original bid included profit of 10% of all costs. The
contractor wants to make a profit of 10% of all costs
on the changes. The amount of the change order
should included a request of an additional.


A. $1820
B. $2,112
C. $3,200
D. $3,520




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A lump sum contract on a project has a total c. between 35,000$ & 40,000$
contract price of $200,000. Retainage has been
held back at 10%. The contractor has received
progress payments of 90% of the project. The
contractor submits a request for the final payment
for the now completed project. The final payment
amount should be for


A. less than 25,000$
b. between 25,000$ & 35,000$
c. between 35,000$ & 40,000$
d. more than 40,000$




VIRGINIA CONTRACTORS STUDY - A & B LICENSE (CALCULATION PART).pdf Page 3 2026-03-31