MN Contractors Exam (licensing quiz) Revised Questions and Answers / Sure A+

Who applies for a license? a)The owner of a sole proprietorship b)At least one general partner or managing employee of a partnership c)A Chief Executive Officer, responsible managing employee or qualifying person in a corporation d)All of the above - D) All of the above A person can be a qualifying person for two corporations if at least 25% of each corporation has common ownership, or the second corporation is a subsidiary of the parent corporation with at least 25% owned by the parent. a) True b) False - a) True A person who fails to apply for renewal by March 31st is considered licensed for 30 days, or until the new license is issued by the Commissioner. a) True b) False - b) False Who is responsible for determining who is qualified to be licensed by the State of Minnesota? a) Department of Labor and Industry b) Department of Regulatory Affairs c) Builders Bureau d) The Board - a) Department of Labor and IndustryAnyone in the business of building residential real estate, or who contracts or offers to improve residential real estate, must be licensed, unless yearly gross receipts are less than $15,000 and they have received a Certificate of Exemption from the Department of Commerce. a) True b) False - a) True