1 NASCLA Contractor's Guide to Business, Law Questions and
Answers with Verified Solutions | Latest Update
QUESTION
1. Which of the following bonds guarantees that the contractor has paid the subcontractor?
A. Bid bond
B. Performance bond
C. Payment bond
D. James bond
Answer:
Payment Bond
QUESTION
2. The _____________ method recognizes income when the employer has done the work, yet has
not
received the income.
A. Accrual
B. Appreciation
C. Deprecation
D. Cash
Answer:
Cash
QUESTION
3. A ___________________ bundles all cost factors for entire task.
A. Lump sum NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
B. Cost plus
C. Percent completion method
D. Unit price method
Answer:
Unit Price Method
,QUESTION
4. _______________ requires paying prevailing wages in federally-financed projects.
A. Service Contract Act
B. Walsh-Healey Act
C. Wage Garnishment Law
D. Davis-Bacon Act
Answer:
Service Contract Act
QUESTION
5. ________________ absolves the indemnified party from any payment for losses and damages
incurred by a third party.
A. Indemnification
B. Delays and extensions of time
C. Schedule acceleration
D. Force majeure NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
Answer:
Schedule acceleration
QUESTION
6. The EAP should include ______________.
A. Student's name
B. Employer's name
C. Administrator's name
D. Next of kin
Answer:
Employer's Name
QUESTION
7. The MSDS provides for two main purposes: one purpose is product information, the other
purpose is
_______________ information.
A. Substance
B. Chemical
C. Sequence of activities
D. Emergency contact
Answer:
Emergency Contract
, QUESTION
8. Having adequate technology strengths can help an organization with all except the following?
A. Estimating NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
B. Purchasing
C. Scheduling
D. Vacationing
Answer:
Estimating
QUESTION
9. Which of the following is an exclusion to an advantage of a sole proprietor?
A. Limited personal responsibility
B. Low start up costs
C. Ownership of profits
D. Decision making freedom
Answer:
Ownership of profits
QUESTION
10. _________________ determine the type of materials or methods used.
A. Specifications
B. Building codes
C. References
D. UL
Answer:
Specifications
QUESTION
NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
11. Which of the following pays a worker when he, she, is laid off?
A. Worker's compensation
B. Unemployment
C. COBRA
D. HIPAA
Answer:
Unemployment
Answers with Verified Solutions | Latest Update
QUESTION
1. Which of the following bonds guarantees that the contractor has paid the subcontractor?
A. Bid bond
B. Performance bond
C. Payment bond
D. James bond
Answer:
Payment Bond
QUESTION
2. The _____________ method recognizes income when the employer has done the work, yet has
not
received the income.
A. Accrual
B. Appreciation
C. Deprecation
D. Cash
Answer:
Cash
QUESTION
3. A ___________________ bundles all cost factors for entire task.
A. Lump sum NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
B. Cost plus
C. Percent completion method
D. Unit price method
Answer:
Unit Price Method
,QUESTION
4. _______________ requires paying prevailing wages in federally-financed projects.
A. Service Contract Act
B. Walsh-Healey Act
C. Wage Garnishment Law
D. Davis-Bacon Act
Answer:
Service Contract Act
QUESTION
5. ________________ absolves the indemnified party from any payment for losses and damages
incurred by a third party.
A. Indemnification
B. Delays and extensions of time
C. Schedule acceleration
D. Force majeure NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
Answer:
Schedule acceleration
QUESTION
6. The EAP should include ______________.
A. Student's name
B. Employer's name
C. Administrator's name
D. Next of kin
Answer:
Employer's Name
QUESTION
7. The MSDS provides for two main purposes: one purpose is product information, the other
purpose is
_______________ information.
A. Substance
B. Chemical
C. Sequence of activities
D. Emergency contact
Answer:
Emergency Contract
, QUESTION
8. Having adequate technology strengths can help an organization with all except the following?
A. Estimating NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
B. Purchasing
C. Scheduling
D. Vacationing
Answer:
Estimating
QUESTION
9. Which of the following is an exclusion to an advantage of a sole proprietor?
A. Limited personal responsibility
B. Low start up costs
C. Ownership of profits
D. Decision making freedom
Answer:
Ownership of profits
QUESTION
10. _________________ determine the type of materials or methods used.
A. Specifications
B. Building codes
C. References
D. UL
Answer:
Specifications
QUESTION
NASCLA Contractor's Guide to Business, Law,
and Project Management, Florida 1st Edition
Practice Test 2
11. Which of the following pays a worker when he, she, is laid off?
A. Worker's compensation
B. Unemployment
C. COBRA
D. HIPAA
Answer:
Unemployment
