Florida Building Contractor Business/Finance Study Exam |
Success Guide | Graded A+
1. What is the timeframe in which employers must report newly hired and
rehired employees?
15 days
30 days
20 days
10 days
2. If, after passing the licensing exam, more than twelve months passes before
applying for a license, the applicant must then _______________ before he can
apply for a license.
retake and pass the exam again
all of the above
take an additional 45 hours of schooling
reapply for school
3. If a contractor needs to occupy a building before all construction is finished,
what steps should they take to obtain a temporary certificate of occupancy?
Submit a request to the local building department along with
necessary documentation and pass preliminary inspections.
Wait until all construction is completed and then apply for a
permanent certificate of occupancy.
Contact the state construction board for immediate approval without
inspections.
, Obtain verbal permission from the property owner to occupy the
building.
4. Describe the circumstances under which an employee is allowed to access
their personal file.
An employee has unrestricted access to their personal file at any time.
An employee can only access their personal file if they are seeking a
promotion.
An employee can access their personal file only during specific
meetings.
An employee is allowed to access their personal file upon making a
formal request to their employer.
5. Interpret the implications of a 'complete agreement' clause for future
negotiations between a contractor and owner.
It encourages informal discussions about project changes.
It allows for renegotiation of terms at any time.
It mandates that all changes must be documented in writing.
It prevents either party from claiming that there were additional
terms outside of the written contract.
6. What is the time frame within which you must apply for Initial Licensure after
passing the examinations?
18 months
12 months
6 months
24 months
,7. Which of the following is a primary reason that the contract documents
require the contractor to submit a project schedule promptly?
To determine contractor's plan and sequence of activities to
accomplish the work
To make sure the contractor knows how to develop a schedule
To find out the earliest date the project will be finished
To determine if the contractor is using an appropriate scheduling
system
8. What type of certificate may be issued when part of a building can be safely
occupied before the completion of the remainder of the project?
Special authorization certificate
A limited occupancy certificate
Certificate of limitation
Temporary certificate of occupancy
9. The employee should be informed that refusal to take a drug screening
and/or blood alcohol test or sign a release of information form may face:
disciplinary action up to and including dismissal
immediate suspension
sent home without pay
immediate termination of employment
10. The _____ requires that employers verify the employment eligibility status of all
employees, while not discriminating because of national origin or ethnic
background.
, Immigration Reform and Control Act
Labor Management Relations Act
Rehabilitation Act
Older Workers Benefit Protection Act
11. Describe the significance of obtaining a permit from OSHA for trenches in
construction projects.
Obtaining a permit from OSHA for trenches deeper than 5 feet is
crucial for ensuring safety and compliance with regulations.
Permits are only required for residential construction.
Permits are only needed for trenches deeper than 10 feet.
OSHA permits are not necessary for any trench work.
12. Describe the nature of Unearned Revenues and why it is classified as a
liability.
Unearned Revenues represent money received for services not yet
performed, thus it is a liability until the service is delivered.
Unearned Revenues are funds that have been earned and are
considered an asset.
Unearned Revenues are revenues that have been recognized and are
recorded as income.
Unearned Revenues are a type of equity that reflects the owner's
investment.
13. A Company's financial position (assets, liabilities and equity) reported at a
particular date is reported on the:
Balance Sheet
Success Guide | Graded A+
1. What is the timeframe in which employers must report newly hired and
rehired employees?
15 days
30 days
20 days
10 days
2. If, after passing the licensing exam, more than twelve months passes before
applying for a license, the applicant must then _______________ before he can
apply for a license.
retake and pass the exam again
all of the above
take an additional 45 hours of schooling
reapply for school
3. If a contractor needs to occupy a building before all construction is finished,
what steps should they take to obtain a temporary certificate of occupancy?
Submit a request to the local building department along with
necessary documentation and pass preliminary inspections.
Wait until all construction is completed and then apply for a
permanent certificate of occupancy.
Contact the state construction board for immediate approval without
inspections.
, Obtain verbal permission from the property owner to occupy the
building.
4. Describe the circumstances under which an employee is allowed to access
their personal file.
An employee has unrestricted access to their personal file at any time.
An employee can only access their personal file if they are seeking a
promotion.
An employee can access their personal file only during specific
meetings.
An employee is allowed to access their personal file upon making a
formal request to their employer.
5. Interpret the implications of a 'complete agreement' clause for future
negotiations between a contractor and owner.
It encourages informal discussions about project changes.
It allows for renegotiation of terms at any time.
It mandates that all changes must be documented in writing.
It prevents either party from claiming that there were additional
terms outside of the written contract.
6. What is the time frame within which you must apply for Initial Licensure after
passing the examinations?
18 months
12 months
6 months
24 months
,7. Which of the following is a primary reason that the contract documents
require the contractor to submit a project schedule promptly?
To determine contractor's plan and sequence of activities to
accomplish the work
To make sure the contractor knows how to develop a schedule
To find out the earliest date the project will be finished
To determine if the contractor is using an appropriate scheduling
system
8. What type of certificate may be issued when part of a building can be safely
occupied before the completion of the remainder of the project?
Special authorization certificate
A limited occupancy certificate
Certificate of limitation
Temporary certificate of occupancy
9. The employee should be informed that refusal to take a drug screening
and/or blood alcohol test or sign a release of information form may face:
disciplinary action up to and including dismissal
immediate suspension
sent home without pay
immediate termination of employment
10. The _____ requires that employers verify the employment eligibility status of all
employees, while not discriminating because of national origin or ethnic
background.
, Immigration Reform and Control Act
Labor Management Relations Act
Rehabilitation Act
Older Workers Benefit Protection Act
11. Describe the significance of obtaining a permit from OSHA for trenches in
construction projects.
Obtaining a permit from OSHA for trenches deeper than 5 feet is
crucial for ensuring safety and compliance with regulations.
Permits are only required for residential construction.
Permits are only needed for trenches deeper than 10 feet.
OSHA permits are not necessary for any trench work.
12. Describe the nature of Unearned Revenues and why it is classified as a
liability.
Unearned Revenues represent money received for services not yet
performed, thus it is a liability until the service is delivered.
Unearned Revenues are funds that have been earned and are
considered an asset.
Unearned Revenues are revenues that have been recognized and are
recorded as income.
Unearned Revenues are a type of equity that reflects the owner's
investment.
13. A Company's financial position (assets, liabilities and equity) reported at a
particular date is reported on the:
Balance Sheet
