Page 1 of 42
VA CONTRACTORS: GENERAL (CLASS A OR
B) EXAM | {LATEST 2026/ 2027 UPDATE}
COMPLETE ACTUAL AND AUTHENTIC EXAM |
BRAND NEW!
What MUST be included in an estimate for a job?
Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are...
offer, acceptance, and consideration
At LEAST how often MUST an employee report information on the
number of employees and the number of new hires in order to meet
the requirements of the Child Support Enforcement Act?
every 2 months
,Page 2 of 42
Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered...
Project overhead
A reason for using a lower than usual profit markup for a specific
project could be to...
cover company overhead costs
Time card records MUST be kept a MINIMUM of...
4 years
A contractor is about to sign an agreement with a representative of a
corporation. The contractor should...
verify that the representative has the authority to bind the
corporation
Which of the following statements about a sole proprietorship is
TRUE?
,Page 3 of 42
The business, or any part of it, can be sold, altered, or exchanged at
will
The PRIMARY difference between a project manager and a project
superintendent is that the project manager...
does not directly supervise day-to-day field activities
A company's net worth is equal to...
owner's equity
What is included in a company's balance sheet?
Assets, liabilities, and owner's equity
Who MUST follow the Fair Labor Standards Act?
All employees with at least 1 employee
, Page 4 of 42
Medical records of work-related injuries to long-term employees
MUST be kept for a MINIMUM of what duration after the employee
leaves employment?
30 years
All of the following are advantages of good scheduling EXCEPT...
reduced training costs
A contractor should do all of the following when estimating a project
EXCEPT...
assume ideal conditions
A bid does NOT specify how long it remains open or in effect is
considered to be open for...
a reasonable amount of time
What does a comprehensive general liability insurance policy protect a
company against?
VA CONTRACTORS: GENERAL (CLASS A OR
B) EXAM | {LATEST 2026/ 2027 UPDATE}
COMPLETE ACTUAL AND AUTHENTIC EXAM |
BRAND NEW!
What MUST be included in an estimate for a job?
Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are...
offer, acceptance, and consideration
At LEAST how often MUST an employee report information on the
number of employees and the number of new hires in order to meet
the requirements of the Child Support Enforcement Act?
every 2 months
,Page 2 of 42
Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered...
Project overhead
A reason for using a lower than usual profit markup for a specific
project could be to...
cover company overhead costs
Time card records MUST be kept a MINIMUM of...
4 years
A contractor is about to sign an agreement with a representative of a
corporation. The contractor should...
verify that the representative has the authority to bind the
corporation
Which of the following statements about a sole proprietorship is
TRUE?
,Page 3 of 42
The business, or any part of it, can be sold, altered, or exchanged at
will
The PRIMARY difference between a project manager and a project
superintendent is that the project manager...
does not directly supervise day-to-day field activities
A company's net worth is equal to...
owner's equity
What is included in a company's balance sheet?
Assets, liabilities, and owner's equity
Who MUST follow the Fair Labor Standards Act?
All employees with at least 1 employee
, Page 4 of 42
Medical records of work-related injuries to long-term employees
MUST be kept for a MINIMUM of what duration after the employee
leaves employment?
30 years
All of the following are advantages of good scheduling EXCEPT...
reduced training costs
A contractor should do all of the following when estimating a project
EXCEPT...
assume ideal conditions
A bid does NOT specify how long it remains open or in effect is
considered to be open for...
a reasonable amount of time
What does a comprehensive general liability insurance policy protect a
company against?
