CSLB C10 EXAM PREPARATION TEST BANK
WITH CORRECT ANSWERS
●● Bid Bond
Answer: This acts as an assurance that the contractor will be able to
complete the job as described in the contract.
●● Performance Bond or Contract Bond
Answer: This guarantees a contractor will complete the project
according to the agreed upon terms & conditions.
●● Payment Bond
Answer: This guarantees that subcontractors and suppliers will be paid
by the contractor for properly performed work.
●● $35,000
Answer: Payment Bonds are required for federal government contracts
over $__________.
●● Fidelity Bond
Answer: This covers the business owner in case of employee dishonesty
or theft.
,●● $15,000
Answer: Contractors must file a contractors bond OR submit a cash
deposit with the CSLB for $_______.
●● $15,000
Answer: The value of a contractors bond must be $________
●● 90
Answer: The contractors bond must be filed with the CLSB within ___
days from the bond effective date.
●● True
Answer: True or False: A contractor must identify their type of insurance
when referring to themselves as "bonded" or "insured" in advertisements
or publications.
●● $12,500 (They can be exempt if the RMO can certify ownership of
10% or more of the voting stock in the company.)
Answer: A business must submit a separate $________ bond for RMEs
or RMOs.
●● $100,000
Answer: A Limited Liability Surety Bond for $__________ is required
in addition to the contractors bond for an LLC license.
, ●● Disciplinary Bond
Answer: This must be filed with the Registrar after a license has been
revoked or denied.
●● False. It's an additional requirement and may not be filed in place of
another bond.
Answer: True or False: A Disciplinary Bond can be combined with any
other bond.
●● $15,000 up to 10x the amount of the contractor's bond
Answer: The Disciplinary bond amount ranges from _______ to
_______, depending on the violation.
●● 2 years
Answer: The Disciplinary Bond must be valid & on file with the
Registrar for how long?
●● Within 90 days
Answer: How soon should the Disciplinary bond be filed with the
CSLB?
●● C) Stocks or fluctuating investments
Answer: All of these are approved alternatives to surety bonds except:
WITH CORRECT ANSWERS
●● Bid Bond
Answer: This acts as an assurance that the contractor will be able to
complete the job as described in the contract.
●● Performance Bond or Contract Bond
Answer: This guarantees a contractor will complete the project
according to the agreed upon terms & conditions.
●● Payment Bond
Answer: This guarantees that subcontractors and suppliers will be paid
by the contractor for properly performed work.
●● $35,000
Answer: Payment Bonds are required for federal government contracts
over $__________.
●● Fidelity Bond
Answer: This covers the business owner in case of employee dishonesty
or theft.
,●● $15,000
Answer: Contractors must file a contractors bond OR submit a cash
deposit with the CSLB for $_______.
●● $15,000
Answer: The value of a contractors bond must be $________
●● 90
Answer: The contractors bond must be filed with the CLSB within ___
days from the bond effective date.
●● True
Answer: True or False: A contractor must identify their type of insurance
when referring to themselves as "bonded" or "insured" in advertisements
or publications.
●● $12,500 (They can be exempt if the RMO can certify ownership of
10% or more of the voting stock in the company.)
Answer: A business must submit a separate $________ bond for RMEs
or RMOs.
●● $100,000
Answer: A Limited Liability Surety Bond for $__________ is required
in addition to the contractors bond for an LLC license.
, ●● Disciplinary Bond
Answer: This must be filed with the Registrar after a license has been
revoked or denied.
●● False. It's an additional requirement and may not be filed in place of
another bond.
Answer: True or False: A Disciplinary Bond can be combined with any
other bond.
●● $15,000 up to 10x the amount of the contractor's bond
Answer: The Disciplinary bond amount ranges from _______ to
_______, depending on the violation.
●● 2 years
Answer: The Disciplinary Bond must be valid & on file with the
Registrar for how long?
●● Within 90 days
Answer: How soon should the Disciplinary bond be filed with the
CSLB?
●● C) Stocks or fluctuating investments
Answer: All of these are approved alternatives to surety bonds except:
