VIRGINIA HIC EXAM ACTUAL EXAM 2026 || MOST RECENT
EXAM 2026|2027 ACTUAL COMPLETE REAL EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+ | GUARANTEED SUCCESS!! NEWEST EXAM | JUST
RELEASED!!
What is the total project overhead for a project that lasts 3 months and
has the following costs? Labor is $4,000; materials are $9,500;
equipment rentals are $1,200; superintendent's annual salary is
$36,000; office rent is $800 per month; and office utilities are $375 per
month. -ANSWERS-Less than $12,000.
What is the total value of current assets for an accrual basis company
that has the following? Checking account cash balance is $4,800;
materials inventory for work-in-progress is $4,200; a pick-up truck that
cost $12,460 - paid for with $2,460 in cash and a note for $10,000 - and
is used 100% in the business; accounts receivable is $5,700; suppliers'
accounts payable is $6,300; other accounts payable is $2,200; and
quarterly income tax payment due is $1,180. -ANSWERS-Between
$12,000 and $16,000.
Where would depreciation of equipment first be entered? -ANSWERS-
General journal.
What is the average collection period ratio for a firm that has $365,000
in annual revenues, $6,600 in current receivables, and net income of
$32,000? -ANSWERS-6.6
,For 1 month a company bills out $38,000 in completed work, and
receives $22,000 in payments plus $8,000 from the previous month's
billings. They pay their total bill of $26,000 to supply houses for this
month's purchases, and another $5,000 to supply houses for last
month's purchases. Using a cash accounting method and NOT
considering any other revenue or expenses, what is the company's net
income for the month? -ANSWERS-Loss of $1,000.
How much state income tax MUST be paid by a corporation that has
$30,000 of Federal taxable income? The company deducted $2,000 of
state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in
Virginia. -ANSWERS-$1,080
What percent should the employer withhold for Virginia withholding
for an employee who is to receive a separate supplemental payment
for vacation? The employer is using a flat percentage rate. -ANSWERS-
5.75%
What would be the total amount of Medicare and Social Security taxes
that the employer should withhold on the last week of the year from an
employee who earns $3,000 per week and has worked for the
employer the entire year? -ANSWERS-$43.50
How much is an employer who withheld employee Medicare and Social
Security taxes or $765 REQUIRED to send to the IRS? -ANSWERS-$1,530
, What is the MAXIMUM amount of a lien that can be claimed by a
subcontractor who notifies the lien agent for a two-family residential
property on August 1 that the subcontractor first provided labor and
materials on the project on May 1? The subcontractor billed the
general contractor for $4,000 per month, through September 30, and
was never paid. -ANSWERS-$8,000
A simple set of cleat stairs will be installed in a basement. The distance
between the basement floor and the first floor is 8 feet. How many
treads will be REQUIRED for these stairs? -ANSWERS-13
A set of plans drawn in 1/4 inch = 1 foot scale will show a structure -
ANSWERS-1/48 actual size.
What are batter boards? -ANSWERS-Stakes and ledger boards marking
building lines
A building has an area of 3,350 square feet and a roof slope of 3 in 12.
The roof is to be covered with composite shingles at three bundles per
square which can be purchased only by the whole bundle. To convert
from plan area to actual roof area, use the following table: SLOPE
MULTIPLY PLAN AREA BY 2 in 12 1. in 12 1. in 12 1.
in 12 1. in 12 1. in 12 1. in 12 1. in 12
1.414 How many bundles of shingles are REQUIRED to roof the
building? Do NOT make an allowance for waste, hips, valleys or starter
courses. -ANSWERS-Between 100 and 105.
EXAM 2026|2027 ACTUAL COMPLETE REAL EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+ | GUARANTEED SUCCESS!! NEWEST EXAM | JUST
RELEASED!!
What is the total project overhead for a project that lasts 3 months and
has the following costs? Labor is $4,000; materials are $9,500;
equipment rentals are $1,200; superintendent's annual salary is
$36,000; office rent is $800 per month; and office utilities are $375 per
month. -ANSWERS-Less than $12,000.
What is the total value of current assets for an accrual basis company
that has the following? Checking account cash balance is $4,800;
materials inventory for work-in-progress is $4,200; a pick-up truck that
cost $12,460 - paid for with $2,460 in cash and a note for $10,000 - and
is used 100% in the business; accounts receivable is $5,700; suppliers'
accounts payable is $6,300; other accounts payable is $2,200; and
quarterly income tax payment due is $1,180. -ANSWERS-Between
$12,000 and $16,000.
Where would depreciation of equipment first be entered? -ANSWERS-
General journal.
What is the average collection period ratio for a firm that has $365,000
in annual revenues, $6,600 in current receivables, and net income of
$32,000? -ANSWERS-6.6
,For 1 month a company bills out $38,000 in completed work, and
receives $22,000 in payments plus $8,000 from the previous month's
billings. They pay their total bill of $26,000 to supply houses for this
month's purchases, and another $5,000 to supply houses for last
month's purchases. Using a cash accounting method and NOT
considering any other revenue or expenses, what is the company's net
income for the month? -ANSWERS-Loss of $1,000.
How much state income tax MUST be paid by a corporation that has
$30,000 of Federal taxable income? The company deducted $2,000 of
state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in
Virginia. -ANSWERS-$1,080
What percent should the employer withhold for Virginia withholding
for an employee who is to receive a separate supplemental payment
for vacation? The employer is using a flat percentage rate. -ANSWERS-
5.75%
What would be the total amount of Medicare and Social Security taxes
that the employer should withhold on the last week of the year from an
employee who earns $3,000 per week and has worked for the
employer the entire year? -ANSWERS-$43.50
How much is an employer who withheld employee Medicare and Social
Security taxes or $765 REQUIRED to send to the IRS? -ANSWERS-$1,530
, What is the MAXIMUM amount of a lien that can be claimed by a
subcontractor who notifies the lien agent for a two-family residential
property on August 1 that the subcontractor first provided labor and
materials on the project on May 1? The subcontractor billed the
general contractor for $4,000 per month, through September 30, and
was never paid. -ANSWERS-$8,000
A simple set of cleat stairs will be installed in a basement. The distance
between the basement floor and the first floor is 8 feet. How many
treads will be REQUIRED for these stairs? -ANSWERS-13
A set of plans drawn in 1/4 inch = 1 foot scale will show a structure -
ANSWERS-1/48 actual size.
What are batter boards? -ANSWERS-Stakes and ledger boards marking
building lines
A building has an area of 3,350 square feet and a roof slope of 3 in 12.
The roof is to be covered with composite shingles at three bundles per
square which can be purchased only by the whole bundle. To convert
from plan area to actual roof area, use the following table: SLOPE
MULTIPLY PLAN AREA BY 2 in 12 1. in 12 1. in 12 1.
in 12 1. in 12 1. in 12 1. in 12 1. in 12
1.414 How many bundles of shingles are REQUIRED to roof the
building? Do NOT make an allowance for waste, hips, valleys or starter
courses. -ANSWERS-Between 100 and 105.
