Virginia hic Contractor's Exam questions and correct solutions 2024

Virginia hic Contractor's Exam questions and correct solutions 2024 What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - CORRECT ANSWER-$500 fine per day for each day of violation plus penalties for a misdemeanor. What is the PRIMARY purpose of licensing? - CORRECT ANSWER-Protect the health and welfare of the public. The application for licensure MUST include - CORRECT ANSWER-the business address of the proposed designated employee. All of the following must be licensed EXCEPT - CORRECT ANSWER-a material supplier who advises a contractor. When a claimant is paid funds from the Contractors Recovery Trust Fund - CORRECT ANSWER-the contractor's license is revoked. All Class A contractor licensure applications MUST include - CORRECT ANSWERinformation on the knowledge, skills, and abilities of the applicant. Which of the following is a requirement for a joint venture? - CORRECT ANSWEREither the joint venture or each contracting party of the joint venture must be licensed How much is the Class A initial license fee not including the Recovery Fund fee? - CORRECT ANSWER-$360 According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of how many hours per week? - CORRECT ANSWER-30 hours. According to the Board Rules and Regulations, which of the following could be a qualified individual? - CORRECT ANSWER-Any full-time employee A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of - CORRECT ANSWER-$15,000 A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? - CORRECT ANSWER-30 days.