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Ohio (OH) Business and Law Practice Exam
Questions & Answers VERIFIED SOLUTIONS
LATEST UPDATE THIS YEAR
Ohio (OH) Business and Law Practice Exam
Exam Overview & Key Information
Category Details
Licensing Authority Ohio Construction Industry Licensing Board (OCILB)
Governing Statute Ohio Revised Code (ORC) Chapter 4740
Exam Provider PSI Services
Question Count 50 questions
Time Limit 2 hours
Exam Type Open-book
Passing Score 70%
Reference Allowed Ohio Contractors Guide to Business, Law and Project Management
Exam Domain Weighting
Based on the official OCILB content outline :
Subject Area Percentage Approx. Questions
Estimating and Bidding 14% 7
Project Management 14% 7
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Subject Area Percentage Approx. Questions
Financial Management 12% 6
Insurance and Bonding 10% 5
OSHA Recordkeeping and Safety 10% 5
Personnel Regulations 10% 5
Tax Laws 10% 5
Licensing 6% 3
Contract Management 6% 3
Business Organization 4% 2
Lien Laws 4% 2
100 Scenario-Based Practice Questions
Section 1: Business Organization (Questions 1-8)
Question 1
Which legal structure provides owners with limited personal liability while allowing profits to be
taxed at the individual level (pass-through taxation)?
A) Sole proprietorship
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B) General partnership
C) Limited Liability Company (LLC)
D) C Corporation
Answer: C
Rationale: An LLC provides limited liability for members (protecting personal assets from
business debts) and allows pass-through taxation to avoid double taxation .
Question 2
Which document must be filed with the Ohio Secretary of State to form a Limited Liability
Company (LLC) in Ohio?
A) Certificate of Incorporation
B) Articles of Organization
C) Trade Name Registration
D) Statement of Partnership Authority
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Answer: B
Rationale: Articles of Organization must be filed with the Ohio Secretary of State to form an LLC.
Corporations file Articles of Incorporation, not LLCs .
Question 3
In an Ohio general partnership, each partner is:
A) Personally liable for all debts and obligations of the partnership
B) Liable only up to their capital contribution
C) Protected from personal liability for torts of other partners
D) Not liable for contracts signed by other partners
Answer: A
Rationale: In a general partnership, partners share unlimited personal liability for all debts and
obligations of the business .
Ohio (OH) Business and Law Practice Exam
Questions & Answers VERIFIED SOLUTIONS
LATEST UPDATE THIS YEAR
Ohio (OH) Business and Law Practice Exam
Exam Overview & Key Information
Category Details
Licensing Authority Ohio Construction Industry Licensing Board (OCILB)
Governing Statute Ohio Revised Code (ORC) Chapter 4740
Exam Provider PSI Services
Question Count 50 questions
Time Limit 2 hours
Exam Type Open-book
Passing Score 70%
Reference Allowed Ohio Contractors Guide to Business, Law and Project Management
Exam Domain Weighting
Based on the official OCILB content outline :
Subject Area Percentage Approx. Questions
Estimating and Bidding 14% 7
Project Management 14% 7
,Page 2 of 186
Subject Area Percentage Approx. Questions
Financial Management 12% 6
Insurance and Bonding 10% 5
OSHA Recordkeeping and Safety 10% 5
Personnel Regulations 10% 5
Tax Laws 10% 5
Licensing 6% 3
Contract Management 6% 3
Business Organization 4% 2
Lien Laws 4% 2
100 Scenario-Based Practice Questions
Section 1: Business Organization (Questions 1-8)
Question 1
Which legal structure provides owners with limited personal liability while allowing profits to be
taxed at the individual level (pass-through taxation)?
A) Sole proprietorship
,Page 3 of 186
B) General partnership
C) Limited Liability Company (LLC)
D) C Corporation
Answer: C
Rationale: An LLC provides limited liability for members (protecting personal assets from
business debts) and allows pass-through taxation to avoid double taxation .
Question 2
Which document must be filed with the Ohio Secretary of State to form a Limited Liability
Company (LLC) in Ohio?
A) Certificate of Incorporation
B) Articles of Organization
C) Trade Name Registration
D) Statement of Partnership Authority
, Page 4 of 186
Answer: B
Rationale: Articles of Organization must be filed with the Ohio Secretary of State to form an LLC.
Corporations file Articles of Incorporation, not LLCs .
Question 3
In an Ohio general partnership, each partner is:
A) Personally liable for all debts and obligations of the partnership
B) Liable only up to their capital contribution
C) Protected from personal liability for torts of other partners
D) Not liable for contracts signed by other partners
Answer: A
Rationale: In a general partnership, partners share unlimited personal liability for all debts and
obligations of the business .
