VA CONTRACTORS GENERAL ( CLASS A OR B)
PRACTICE TEST QUESTIONS AND 100% VERIFIED
ANSWERS | GRADED A+ | GUARANTEED PASS!!
Which of the following estimating methods is typically used by the architect rather
than the contractor?
- answer-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and
materials plus a fixed fee for the contractor's overhead and profit is called a...
- answer-cost plus contract
Equipment needs for a project are BEST estimated by...
- answer-Calculating the number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies?
- answer-Key man
An owner hires a construction manager for a project. Which of the following is
TRUE with regard to subcontractors?
- answer-The subcontractors are prime contractors
What protects a contractor from risk?
- answer-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it...
- answer-Identifies activities that MUST be completed before other activities can
occur
What may be covered by an allowance in a contract?
- answer-Light fixture costs
Which of the following is considered ethical behavior?
- answer-Failing to disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form...
- answer-1099
, The BEST business practice for special-ordered materials is to...
- answer-put the order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to
have. This is considered...
- answer-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years?
- answer-30 years
AT LEAST how often should employees watch for possible hazards at the job site?
- answer-constantly
An employee can request to receive advance earned income credit on Form...
- answer-W-5
A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the
contractor. Under the lien law, this is considered...
- answer-Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in estimating labor for a
project?
- answer-Labor burden
What MUST be included in an estimate for a job?
- answer-Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are...
- answer-offer, acceptance, and consideration
At LEAST how often MUST an employee report information on the number of
employees and the number of new hires in order to meet the requirements of the
Child Support Enforcement Act?
- answer-every 2 months
PRACTICE TEST QUESTIONS AND 100% VERIFIED
ANSWERS | GRADED A+ | GUARANTEED PASS!!
Which of the following estimating methods is typically used by the architect rather
than the contractor?
- answer-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and
materials plus a fixed fee for the contractor's overhead and profit is called a...
- answer-cost plus contract
Equipment needs for a project are BEST estimated by...
- answer-Calculating the number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies?
- answer-Key man
An owner hires a construction manager for a project. Which of the following is
TRUE with regard to subcontractors?
- answer-The subcontractors are prime contractors
What protects a contractor from risk?
- answer-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it...
- answer-Identifies activities that MUST be completed before other activities can
occur
What may be covered by an allowance in a contract?
- answer-Light fixture costs
Which of the following is considered ethical behavior?
- answer-Failing to disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form...
- answer-1099
, The BEST business practice for special-ordered materials is to...
- answer-put the order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to
have. This is considered...
- answer-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years?
- answer-30 years
AT LEAST how often should employees watch for possible hazards at the job site?
- answer-constantly
An employee can request to receive advance earned income credit on Form...
- answer-W-5
A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the
contractor. Under the lien law, this is considered...
- answer-Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in estimating labor for a
project?
- answer-Labor burden
What MUST be included in an estimate for a job?
- answer-Materials, labor, equipment, and overhead costs
The 3 PRIMARY elements of a contract are...
- answer-offer, acceptance, and consideration
At LEAST how often MUST an employee report information on the number of
employees and the number of new hires in order to meet the requirements of the
Child Support Enforcement Act?
- answer-every 2 months
