NASCLA PSI EXAM PRACTICE (BUSINESS LAW & PROJECT MANAGEMENT) QUESTIONS WITH COMPLETE SOLUTIONS

FOB freight prepaid requires __________ to pay for shipping charges correct answer: Seller 14-12 Which of the following is not a member of the supervisory team? correct answer: Project manager 9-7 __________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a simplified method. correct answer: Calendar 9-3 When working in dwelling that was built prior to 1978, the employer is to provide each occupant with a pamphlet title _________? correct answer: Protect your family from lead in your home 12-14 You have ___________ days from the completion of a commercial structure or commercial construction project to file a lien claim form. correct answer: 90 16-2 A lump sum contract on a project has a total contact price of $260,000. Retainage has been held back at 10%. The contractor has received progress payments for 75% of the project. The contractor submit a request for final payment should be for? correct answer: More than $80,000 $260,000 * .35= $91,000 Which of the following is not a key characteristic of a sole proprietor ship? correct answer: Business expenses and personal income are not separated. 2-1 What is the quick ratio or or acid test ratio for a company that has current assets of $28,000, inventory of $4000, and current liabilities of $6000? correct answer: 4/1 14-7 An EAP is required to be in writing for______employees or more. correct answer: 11 12-3 Who pays into FUTA? correct answer: Employer 15-5 What is the purpose of just in time deliveries? correct answer: Profit high and vandalism low. 9-9