Florida Contractors Manual Exam | Questions And Correct Answers |
Graded A+ | Verified Answers | Latest Version | Study This One!
A properly registered fictitious name is valid for ________________
A. 1 year
B. 2 years
C. 3 years
D. 5 years - (CORRECT ANSWER)D. 5 years
1-15
Which of the following would have jurisdiction over dredging or excavation of navigable waters and
wetlands?
A. U.S. Dept. of the Interior
B. Florida Dept. of State
C. Florida Dept.of Transportation
D. U.S Army Corps of Engineers - (CORRECT ANSWER)D. U.S Army Corps of Engineers
1-16
The name of the form which is used to apply for sales tax is?
A. W2
B. DR-1
C. S1
D. W4 - (CORRECT ANSWER)B. DR-1
1-21
Which of the following is NOT true about a fictitious name registration?
1
,A. Valid for 5 years.
B. The fictitious name must be advertised at least one time.
C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration
within 45 days of filing,
D. Fictitious name registration must be renewed between July 1 and December 31 in the expiration year.
- (CORRECT ANSWER)C. If a change of ownership occurs, the owner(s) of record must file a cancellation
and registration within 45 days of filing,
1-15
Three partners, Noah, Evan & Steven form a partnership. Noah invests $30,000; Steven invests $20,000
and Evan invests $15,000. In addition, Noah performs specific management functions for which he is
paid $5,000 from the partnership proceeds. If the partnership earns $244,000, how much will Noah
receive?
A. Less than $70,000
B. Between $70,000 -$90,000
C. Between $90,000-$110,000
D. More than $110,000 - (CORRECT ANSWER)D. More than $110,000
1-12
If the above partnership were dissolved, showing a net loss of $60,000, how much would Noah owe?
A. $60,000
B. $4,666
C. $20,000
D. $0.00 - (CORRECT ANSWER)A. $60,000
1-13
2
,According to the Contractor's Manual, starting capital should be enough to cover living expenses for
between which of the following?
A. 3 months to a year
B. 6 months to a year
C. 9 months to a year
D. at least a year - (CORRECT ANSWER)A. 3 months to a year
1-17
A Partnership will be dissolved if which of the following applies?
A. UnlawfuI Activity
B. Failing to have a primary qualifying agent
C. A court decree under the partnership act
D. A and C 1-29 - (CORRECT ANSWER)D. A and C 1-29
1-29
Which of the following is NOT characteristic about a General and Limited Partnership?
A. The limited partnership has two types of partners; a partnership only one.
B. The general partners of a limited partnership have limited personal liability; the partners of a
partnership do not.
C. In a limited partnership the limited partners have no management responsibility.
D. The general partner has joint and several liability; the limited partner does not - (CORRECT
ANSWER)C. In a limited partnership the limited partners have no management responsibility.
1-12
3
, Which of the following is NOT true about a sole proprietor, a/k/a DBA, operating a business in his own
name?
A. A business fictitious name filing is necessary.
B. A business Tax Identification Number filing is necessary.
C. Neither A nor B
D. Both A and B - (CORRECT ANSWER)D. Both A and B
1-11
Which of the following is an advantage of owning a corporation?
A. Continuity of existence.
B. Lack of centralized control.
C. sharing of ideas and management responsibility.
D. Easier to create. - (CORRECT ANSWER)A. Continuity of existence.
1-11
Unlicensed practice of a profession is punishable by an administrative penalty not to exceed _______.
A. $500
B. $1,000
C. $5,000
D. $12,500 - (CORRECT ANSWER)C. $5,000
455.228(1)
4
Graded A+ | Verified Answers | Latest Version | Study This One!
A properly registered fictitious name is valid for ________________
A. 1 year
B. 2 years
C. 3 years
D. 5 years - (CORRECT ANSWER)D. 5 years
1-15
Which of the following would have jurisdiction over dredging or excavation of navigable waters and
wetlands?
A. U.S. Dept. of the Interior
B. Florida Dept. of State
C. Florida Dept.of Transportation
D. U.S Army Corps of Engineers - (CORRECT ANSWER)D. U.S Army Corps of Engineers
1-16
The name of the form which is used to apply for sales tax is?
A. W2
B. DR-1
C. S1
D. W4 - (CORRECT ANSWER)B. DR-1
1-21
Which of the following is NOT true about a fictitious name registration?
1
,A. Valid for 5 years.
B. The fictitious name must be advertised at least one time.
C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration
within 45 days of filing,
D. Fictitious name registration must be renewed between July 1 and December 31 in the expiration year.
- (CORRECT ANSWER)C. If a change of ownership occurs, the owner(s) of record must file a cancellation
and registration within 45 days of filing,
1-15
Three partners, Noah, Evan & Steven form a partnership. Noah invests $30,000; Steven invests $20,000
and Evan invests $15,000. In addition, Noah performs specific management functions for which he is
paid $5,000 from the partnership proceeds. If the partnership earns $244,000, how much will Noah
receive?
A. Less than $70,000
B. Between $70,000 -$90,000
C. Between $90,000-$110,000
D. More than $110,000 - (CORRECT ANSWER)D. More than $110,000
1-12
If the above partnership were dissolved, showing a net loss of $60,000, how much would Noah owe?
A. $60,000
B. $4,666
C. $20,000
D. $0.00 - (CORRECT ANSWER)A. $60,000
1-13
2
,According to the Contractor's Manual, starting capital should be enough to cover living expenses for
between which of the following?
A. 3 months to a year
B. 6 months to a year
C. 9 months to a year
D. at least a year - (CORRECT ANSWER)A. 3 months to a year
1-17
A Partnership will be dissolved if which of the following applies?
A. UnlawfuI Activity
B. Failing to have a primary qualifying agent
C. A court decree under the partnership act
D. A and C 1-29 - (CORRECT ANSWER)D. A and C 1-29
1-29
Which of the following is NOT characteristic about a General and Limited Partnership?
A. The limited partnership has two types of partners; a partnership only one.
B. The general partners of a limited partnership have limited personal liability; the partners of a
partnership do not.
C. In a limited partnership the limited partners have no management responsibility.
D. The general partner has joint and several liability; the limited partner does not - (CORRECT
ANSWER)C. In a limited partnership the limited partners have no management responsibility.
1-12
3
, Which of the following is NOT true about a sole proprietor, a/k/a DBA, operating a business in his own
name?
A. A business fictitious name filing is necessary.
B. A business Tax Identification Number filing is necessary.
C. Neither A nor B
D. Both A and B - (CORRECT ANSWER)D. Both A and B
1-11
Which of the following is an advantage of owning a corporation?
A. Continuity of existence.
B. Lack of centralized control.
C. sharing of ideas and management responsibility.
D. Easier to create. - (CORRECT ANSWER)A. Continuity of existence.
1-11
Unlicensed practice of a profession is punishable by an administrative penalty not to exceed _______.
A. $500
B. $1,000
C. $5,000
D. $12,500 - (CORRECT ANSWER)C. $5,000
455.228(1)
4
