MHIC Flashcards Questions and Answers 100% Correct

Home ImprovementThe addition to or alteration, conversion, improvment, modernization, remodeling, repair, or replacement of a building Contractora person who performs or offers a home improvement for an owner Subcontractorenters into a contract with contractors or other subcontractors to perform all or part of the home improvement. True or false? You can accept money before the contract is signedFALSE! You can only accept money once the contract is signed True or false? A contractor cannot accept more than 1/3 of the contract price as a depositTrue True or false? Only the contractor can make changes to a contractTrue Door- to - Door Sales Act Only who can issue a home improvement license?Maryland Home Improvement Commissions What is the passing mark for the exam?70% Each contractor is required to have a general liability insurance of AT LEAST how much?$50,000