Michigan Residential Builder's License Exam Questions with Correct Answers

What is the 1st offense penalty for engaging in the practice of residential building without a license? Correct Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? Correct Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? Correct Answer Your personal address What is the cost of the individual builder's license? Correct Answer $195 After receiving your residential builder's license, what are the only trades that are not covered by your license? Correct Answer -Plumbing -Electrical -HVAC Who is the TESTING company for the State of Michigan? Correct Answer PSI What is the name of the DEPARTMENT that regulates your license? Correct Answer LARA Before you may test, what must you do? Correct Answer Present 2 forms of ID How should you schedule your test with PSI? Correct Answer -Online -Mail -Phone/Fax When will you receive your test score? Correct Answer Immediately following the completion of the test What are the 2 parts of the Residential Builder's Exam? Correct Answer -Business & Law -Practice & Trade How long will you have to complete the Practice & Trade portion of the exam? Correct Answer 180 mins What is a quick asset ratio? Correct Answer 1 to 1