VA Contractors: Virginia (Class A or B) Exam Questions and Answers

VA Contractors: Virginia (Class A or B) Exam Questions and Answers All Class A contractor licensure applications MUST include... - ANS ️️ Information on the knowledge, skills, and abilities of the applicant Which of the following is a requirement for a joint venture? - ANS ️️ Either the joint venture or each contracting party of the joint venture must be licensed All of the following must be licensed EXCEPT... - ANS ️️ A material supplier who advises a contractor Payments made by the Transaction Recovery Fund to claimants may include an amount for... - ANS ️️ Attorney's fees A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? - ANS ️️ 30 days An appeal of a final decision of a county on an erosion control plan MUST be filed within a MAXIMUM of how many days? - ANS ️️ 30 days How much is the Class A initial license fee? - ANS ️️ $200 When a claimant is paid funds from the Contractors Recovery Trust Fund... - ANS ️️ The contractor's license is revoked A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of... - ANS ️️ $15,000 A contract for which of the following types of structures may be subject to recovery from the Transaction Recovery Fund? - ANS ️️ Residential only Contractors will be assessed a fee for the Transaction Recovery Fund whenever the fund balance is less than... - ANS ️️ $400,000