Naslca Virginia Exam Practice

What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? $500 fine per day for each day of violation plus penalties for a misdemeanor. All Class A contractor licensure applications MUST include information on the knowledge, skills, and abilities of the applicant. What is the PRIMARY purpose of licensing? Protect the health and welfare of the public. When a claimant is paid funds from the Contractors Recovery Trust Fund the contractor's license is revoked. !!! The application for licensure MUST include the business address of the proposed designated employee. Which of the following is a requirement for a joint venture? Either the joint venture or each contracting party of the joint venture must be licensed. All of the following must be licensed EXCEPT a material supplier who advises a contractor. How much is the Class A initial license fee? $200 A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? 30 days According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of how many hours per week? 30 hours. A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of $15,000. According to the Board Rules and Regulations, which of the following could be a qualified individual? Any full-time employee. An appeal of the local building official's decision to refuse to grant a modification to the USBC MUST be made to the local building board within a MAXIMUM of how many days? 90 days. A building official MUST issue a certificate of occupancy for a building that meets all the requirements for a certificate within a MAXIMUM of how many working days after the certificate was requested? 5 Additions to buildings MUST comply with the current code for new construction. When MUST the work be stopped following the issuance of a stop work order? Immediately Who is to be in charge of a local building department? Building official. Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within a MINIMUM of how many days from when the assessment fee notice was mailed? 45 days Contractors will be assessed a fee for the Transaction Recovery Fund whenever the fund balance is less than $400,000. Payments made by the Transaction Recovery Fund to claimants may include an amount for attorneys' fees. A contract for which of the following types of structures may be subject to recovery from the Transaction Recovery Fund? Residential only. A verified claim for payment from the Transaction Recovery Fund MUST occur within a MAXIMUM of what period of time from the date the claimant was awarded a final judgment? 12 months. An appeal of a final decision of a county on an erosion control plan MUST be filed within a MAXIMUM of how many days? 30 days. Temporary erosion and sediment control measures MUST be removed within a MAXIMUM of how many days after the final site stabilization? 30 days. Which of the following statements about a sole proprietorship is TRUE? The business, or any part of it, can be sold, altered, or exchanged at will. What type of business organization allows people to share financial resources? Partnership. Which of the following estimating methods is typically used by the architect rather than the contractor? Conceptual estimate. Equipment needs for a project are BEST estimated by calculating the number of hours or days it is needed. What should be added to wage rates to ensure accuracy in estimating labor for a project? Labor burden. A reason for using a lower than usual profit markup for a specific project could be to cover company overhead costs. Which of the following is a TRUE statement about estimating? Both overestimating and underestimating costs could have disastrous consequences. A contractor should do all of the following when estimating a project EXCEPT assume ideal conditions What MUST be included in an estimate for a job? Materials, labor, equipment, and overhead costs. Costs that relate to construction activity but are NOT easily identifiable for a specific project are considered project overhead. All of the following are considered general conditions that could affect costs directly associated with a specific project EXCEPT profit