Florida Contractor's License Business and Finance Study Guide 2 | Exam Prep & Practice Questions 2026

Florida Contractor's License Business and Finance Study Guide 2
Florida Contractor's License Business and Finance Study Guide 2 (2024)
Study online at https://quizlet.com/_etwr0l

1. Who should have a certificate of insurance on file all subcontractors in the job
with a contractor?

Ref: AIA-A401 - 12.1.4 / FCM 10-67

2. Which of the following individuals is required by owner
Florida Statutes to sign a Notice of Commence-
ment?

Ref: FCM 9-12

3. Which expense list below is variable to the collected bad debt
accounts receivable?

Ref: BGA 142, 143

4. The DBPR shall forward a license renewal notifi- 90 days
cation AT LEAST _____________ before the end of a
licensure cycle

Ref: FCM 2-54

5. The budget of cash movement statement illustrates ending cash balance
the beginning cash balance and the

Ref: BGA 176, 177

6. What tool can a Project Manager use to help in project logic table
scheduling a project?

Ref: FCM 10-63

7. According to Builder's Guide to Accounting, which
statement is true?


, Florida Contractor's License Business and Finance Study Guide 2
Florida Contractor's License Business and Finance Study Guide 2 (2024)
Study online at https://quizlet.com/_etwr0l

an income statement is a
Ref: BGA 248 / FCM 3-108 summary of revenue and ex-
penses for a given period

8. Under the Federal Equal Pay Act of 1963 a court or back pay only, up to three
jury, in the case of a willful violation, may award year

Ref: FCM 5-39

9. The benefit of a good budge is to ensure a balance between in-
vestment and expected yield
Ref: BGA 173

10. In the process of qualifying for SBA new long-term a brief, factual presentation of
guarantee financing, the potential lender has re- how the company performs
quested a "prospectus". To comply, the contractor and operates
will need to supply

Ref: BGA 319

11. When pulling a building permit, a copy of the Notice of Commencement
_________ will be filed with the permitting authority.

Ref: FCM 9-80

12. According to Contractors Manual, Multi-Worksite total on the employer's quar-
Reports MUST agree with the terly reports

Ref: FCM 5-290

13. Surety bonds are generally required of contractors protect the funds of the tax-
performing Public Works in order to payer

Ref: FCM 4-13



, Florida Contractor's License Business and Finance Study Guide 2
Florida Contractor's License Business and Finance Study Guide 2 (2024)
Study online at https://quizlet.com/_etwr0l

14. In the case of material purchase, vendor invoices receiving notices
should be matched with _________ prior to payment
of the invoice

Ref: FCM 10-54

15. Which of the following is NOT an accomplishment of provides simply for reserves
a complete cash budget? and fund accumulation

Ref: BGA 173, 174

16. Under Title VII of The Civil Rights Act of 1964, once 90
the EEOC issues a Notice of Right to Sue, the chang-
ing party has _________ days from receipt of the no-
tice to file suit

Ref: FCM 5-35

17. What is the advantage of an S Corporation for a sole all corporate income and
proprietor? losses comes to the sole pro-
prietor as an individual tax-
Ref: FCM 1-11 payer

18. Using a cost plus contract for cost escalation is eas- contractor
iest for the _______ to shift risk

Ref: FCM 8-15

19. According to the AIA contract, one set of drawings no charge
and specifications will be furnished to the contrac-
tor at what price?

Ref: AIA A701