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CONTRACTORS BUSINESS/LAW EXAM 2026 ALL
QUESTIONS AND CORRECT DETAILED
ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
The company's work site exposes the employees working there to
hazardous materials. Who is responsible for making sure each person
coming to the site wears the correct protective equipment? - ANSWER-
Employer
Which of the following SHOULD be included for the schedule of
progress payments - ANSWER- date or stage when each payment is due
An employer must submit a completed I-9 form for all employees within
how may days of hire date? - ANSWER- 3 days
Of the following who has the responsibility for material delivery and
storage of materials - ANSWER- expediter
The total time given for the construction of a job is 6 months. The
framing is given 2 months to complete. The framing will only take 1
month to complete. What is the amount of float time that is available for
the framing? - ANSWER- 1 month
In which of the contracts does the contractor agree to complete the
project for a predetermined, specific price? - ANSWER- Lump sum
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Which of the following is a disadvantage of owning a sole
proprietorship? - ANSWER- unlimited liability
What is the purpose of a mechanics lien? - ANSWER- To make claim
on someone's property as security against the payment of debt
Indoor and outdoor air quality should be monitored: - ANSWER-
throughout the construction project
What is a survey or quantity take off? - ANSWER- Complete listing of
all materials and items of work needed in the project
Which of the following is a snapshot of a business at any given time? -
ANSWER- Balance Sheet
The responsibilities of the special inspector include all of the following
EXCEPT: - ANSWER- P.O. Box number
Which defines what a current liability is? - ANSWER- liabilities that
will mature and must be paid within one year
A qualifier must prove DOPL that? - ANSWER- that they have a
management position
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What are liquidated damages? - ANSWER- Monetary compensation for
loss suffered due to a breach of contract
According to the OSHA which is the most hazardous? - ANSWER-
Lead
Which of the following is not regulated by FLSA? - ANSWER-
Vacation and holiday pay
What type of insurance covers contractors for losses due to vandalism
and malicious mischeif? - ANSWER- All-Risk builders risk
The MAXIMUM allowable time to notify the department of
Occupational and Professional Licensing that your qualifier has left the
company is: - ANSWER- 10 days
An employer must determine how much income tax to withhold from
each employees wages. What is the document used to determine the
amount to be withheld? - ANSWER- Form W-4
What does Commercial Liability cover? - ANSWER- Bodily injury,
damage or loss of property, personal injury and advertising injury.
If you file a claim or lien on A piece of property, how long do you have
to notify the owner or reputed owner - ANSWER- 30 days
CONTRACTORS BUSINESS/LAW EXAM 2026 ALL
QUESTIONS AND CORRECT DETAILED
ANSWERS ALREADY A GRADED WITH EXPERT
FEEDBACK |NEW AND REVISED
The company's work site exposes the employees working there to
hazardous materials. Who is responsible for making sure each person
coming to the site wears the correct protective equipment? - ANSWER-
Employer
Which of the following SHOULD be included for the schedule of
progress payments - ANSWER- date or stage when each payment is due
An employer must submit a completed I-9 form for all employees within
how may days of hire date? - ANSWER- 3 days
Of the following who has the responsibility for material delivery and
storage of materials - ANSWER- expediter
The total time given for the construction of a job is 6 months. The
framing is given 2 months to complete. The framing will only take 1
month to complete. What is the amount of float time that is available for
the framing? - ANSWER- 1 month
In which of the contracts does the contractor agree to complete the
project for a predetermined, specific price? - ANSWER- Lump sum
,2|Page
Which of the following is a disadvantage of owning a sole
proprietorship? - ANSWER- unlimited liability
What is the purpose of a mechanics lien? - ANSWER- To make claim
on someone's property as security against the payment of debt
Indoor and outdoor air quality should be monitored: - ANSWER-
throughout the construction project
What is a survey or quantity take off? - ANSWER- Complete listing of
all materials and items of work needed in the project
Which of the following is a snapshot of a business at any given time? -
ANSWER- Balance Sheet
The responsibilities of the special inspector include all of the following
EXCEPT: - ANSWER- P.O. Box number
Which defines what a current liability is? - ANSWER- liabilities that
will mature and must be paid within one year
A qualifier must prove DOPL that? - ANSWER- that they have a
management position
, 3|Page
What are liquidated damages? - ANSWER- Monetary compensation for
loss suffered due to a breach of contract
According to the OSHA which is the most hazardous? - ANSWER-
Lead
Which of the following is not regulated by FLSA? - ANSWER-
Vacation and holiday pay
What type of insurance covers contractors for losses due to vandalism
and malicious mischeif? - ANSWER- All-Risk builders risk
The MAXIMUM allowable time to notify the department of
Occupational and Professional Licensing that your qualifier has left the
company is: - ANSWER- 10 days
An employer must determine how much income tax to withhold from
each employees wages. What is the document used to determine the
amount to be withheld? - ANSWER- Form W-4
What does Commercial Liability cover? - ANSWER- Bodily injury,
damage or loss of property, personal injury and advertising injury.
If you file a claim or lien on A piece of property, how long do you have
to notify the owner or reputed owner - ANSWER- 30 days
