Part-1, Florida Contractor Exam, (Business and Finance) Questions and
Answers Rated A
According AIA, the contractor shall pay the subcontractor
within days after the contractor receives pay-
ment form the owner
. A. three working D. seven Working days
B five calendar
C. five working
D. seven working
A registered contractor may apply for "grandfathering" as
certified contractor after years of experience.
A. 2
c. 5
B. 4
C. 5
D. 10
When making business plan to start up business, it is
imperative to know who and where the are.
A. employees
C. competitors
B. advertisers
C. competitors
D. professionals
Having received the list of subcontractors, the architect
immediately objects to the use of plumber X's company.
The general contractor promptly proposes using plumb-
ing Y's company at higher cost of $5,000. What is the
general contractor entitled to? C. $5000 plus approved tome extension
A. nothing
B. a time extension only
C. $5,000 plus approved time extension
D. contract with owner needs to be renegotiated
If one of your workers found to be an employee and not
an independent contractor, which of the following may the
1/7
, Part-1, Florida Contractor Exam, (Business and Finance) Questions and
Answers Rated A
IRS determine you are liable to pay?
A.FICA and income tax
B. accrued vacation time A. FICA and income tax
C. legal expenses of the workers
D. Worker's Compensation premiums
A material supplier has ottered payment terms of 2% 10
days/net 30 days. Assuming the invoice received August
17th for $2,500 is paid August 30th, what would be the
TOTAL payment?
C. $2500
A.$2,450
B. $2,495
C. $2,500
D. $2,550
Assistance in identifying sources of available business fi-
nancing could be obtained from the
A. Department of Revenue
B. U.S. Internal Revenue Service C. Small Buisness Administration
C. Small Business Administration
D. Florida Department of Commerce and Economic Devel-
opment
When evaluating an ottered job, it is necessary to be able
to calculate all costs, including to determine if it
will be profitable.
A. assets C. Man-hours
B. licenses
C. man-hours
D. fictitious names
A builder hires a plumbing contractor to perform the
plumbing work on a new residential dwelling. The plumb-
ing contractor completes the work, but does not re-
2/7
Answers Rated A
According AIA, the contractor shall pay the subcontractor
within days after the contractor receives pay-
ment form the owner
. A. three working D. seven Working days
B five calendar
C. five working
D. seven working
A registered contractor may apply for "grandfathering" as
certified contractor after years of experience.
A. 2
c. 5
B. 4
C. 5
D. 10
When making business plan to start up business, it is
imperative to know who and where the are.
A. employees
C. competitors
B. advertisers
C. competitors
D. professionals
Having received the list of subcontractors, the architect
immediately objects to the use of plumber X's company.
The general contractor promptly proposes using plumb-
ing Y's company at higher cost of $5,000. What is the
general contractor entitled to? C. $5000 plus approved tome extension
A. nothing
B. a time extension only
C. $5,000 plus approved time extension
D. contract with owner needs to be renegotiated
If one of your workers found to be an employee and not
an independent contractor, which of the following may the
1/7
, Part-1, Florida Contractor Exam, (Business and Finance) Questions and
Answers Rated A
IRS determine you are liable to pay?
A.FICA and income tax
B. accrued vacation time A. FICA and income tax
C. legal expenses of the workers
D. Worker's Compensation premiums
A material supplier has ottered payment terms of 2% 10
days/net 30 days. Assuming the invoice received August
17th for $2,500 is paid August 30th, what would be the
TOTAL payment?
C. $2500
A.$2,450
B. $2,495
C. $2,500
D. $2,550
Assistance in identifying sources of available business fi-
nancing could be obtained from the
A. Department of Revenue
B. U.S. Internal Revenue Service C. Small Buisness Administration
C. Small Business Administration
D. Florida Department of Commerce and Economic Devel-
opment
When evaluating an ottered job, it is necessary to be able
to calculate all costs, including to determine if it
will be profitable.
A. assets C. Man-hours
B. licenses
C. man-hours
D. fictitious names
A builder hires a plumbing contractor to perform the
plumbing work on a new residential dwelling. The plumb-
ing contractor completes the work, but does not re-
2/7
