VA Contractors: General (Class A or B) PLUS
Advanced (Class A) | A collection of the common
questions and correct answers (Verified)
[The repeated phrases/terms/questions are the must knows]
What protects a contractor from risk? - (Answer) Insurance
Equipment needs for a project are BEST estimated by... - (Answer) Calculating the
number of hours or days it is needed
Which of the following estimating methods is typically used by the architect rather than
the contractor? - (Answer) Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials
plus a fixed fee for the contractor's overhead and profit is called a... - (Answer) cost
plus contract
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies? - (Answer) Key man
An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors? - (Answer) The subcontractors are prime contractors
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - (Answer) Identifies
activities that MUST be completed before other activities can occur
, What may be covered by an allowance in a contract? - (Answer) Light fixture costs
Which of the following is considered ethical behavior? - (Answer) Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - (Answer) 1099
The BEST business practice for special-ordered materials is to... - (Answer) put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have.
This is considered... - (Answer) Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM
of how many years? - (Answer) 30 years
AT LEAST how often should employees watch for possible hazards at the job site? -
(Answer) constantly
An employee can request to receive advance earned income credit on Form... -
(Answer) W-5
A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the contractor.
Under the lien law, this is considered... - (Answer) Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - (Answer) Labor burden
What MUST be included in an estimate for a job? - (Answer) Materials, labor,
equipment, and overhead costs
Advanced (Class A) | A collection of the common
questions and correct answers (Verified)
[The repeated phrases/terms/questions are the must knows]
What protects a contractor from risk? - (Answer) Insurance
Equipment needs for a project are BEST estimated by... - (Answer) Calculating the
number of hours or days it is needed
Which of the following estimating methods is typically used by the architect rather than
the contractor? - (Answer) Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials
plus a fixed fee for the contractor's overhead and profit is called a... - (Answer) cost
plus contract
What type of insurance is needed for a partnership to insure that the business does
NOT go out of business if one partner dies? - (Answer) Key man
An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors? - (Answer) The subcontractors are prime contractors
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - (Answer) Identifies
activities that MUST be completed before other activities can occur
, What may be covered by an allowance in a contract? - (Answer) Light fixture costs
Which of the following is considered ethical behavior? - (Answer) Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - (Answer) 1099
The BEST business practice for special-ordered materials is to... - (Answer) put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have.
This is considered... - (Answer) Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM
of how many years? - (Answer) 30 years
AT LEAST how often should employees watch for possible hazards at the job site? -
(Answer) constantly
An employee can request to receive advance earned income credit on Form... -
(Answer) W-5
A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the contractor.
Under the lien law, this is considered... - (Answer) Intent to defraud by the contractor
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - (Answer) Labor burden
What MUST be included in an estimate for a job? - (Answer) Materials, labor,
equipment, and overhead costs
