Becoming a Licensed Contractor in Tennessee Process and Requirements
Becoming a Licensed Contractor in Tennessee: Process and Requirements
Study online at https://quizlet.com/_jqyviu
1. What should you avoid doing until you are granted Bidding, offering a price, ne-
a contractor's license? gotiating, or contracting.
2. What are the consequences of violating licensing Monetary penalties and li-
rules? cense denial for six months.
3. What is the first step in the licensing process for Passing the business and law
contractors? examination and any applica-
ble trade examination.
4. Which organization must you register with to take PSI Services, LLC.
the contractor's exams?
5. What type of financial statement is required for lim- A 'reviewed' financial state-
its of $3,000,000 and less? ment.
6. What type of financial statement is required for lim- An 'audited' financial state-
its exceeding $3,000,000? ment.
7. What must be submitted if you are a new start-up Personal financial statements
company without an operating statement? with a Guaranty Agreement.
8. Who must sign the Guaranty Agreement? All names listed on the fi-
nancial statement, such as a
spouse.
9. What type of letter is required for the contractor's A reference letter from a past
license application? client, former employer, or a
codes official.
10. What must corporations provide when applying for A Charter or Certificate of Au-
a contractor's license? thority.
11. Their Articles of Organization.
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Becoming a Licensed Contractor in Tennessee: Process and Requirements
Study online at https://quizlet.com/_jqyviu
1. What should you avoid doing until you are granted Bidding, offering a price, ne-
a contractor's license? gotiating, or contracting.
2. What are the consequences of violating licensing Monetary penalties and li-
rules? cense denial for six months.
3. What is the first step in the licensing process for Passing the business and law
contractors? examination and any applica-
ble trade examination.
4. Which organization must you register with to take PSI Services, LLC.
the contractor's exams?
5. What type of financial statement is required for lim- A 'reviewed' financial state-
its of $3,000,000 and less? ment.
6. What type of financial statement is required for lim- An 'audited' financial state-
its exceeding $3,000,000? ment.
7. What must be submitted if you are a new start-up Personal financial statements
company without an operating statement? with a Guaranty Agreement.
8. Who must sign the Guaranty Agreement? All names listed on the fi-
nancial statement, such as a
spouse.
9. What type of letter is required for the contractor's A reference letter from a past
license application? client, former employer, or a
codes official.
10. What must corporations provide when applying for A Charter or Certificate of Au-
a contractor's license? thority.
11. Their Articles of Organization.
1/2
