VA Contractors Questions With Correct Answers

VA Contractors Questions With Correct Answers Which of the following estimating methods is typically used by the architect rather than the contractor? - Correct 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... - Correct Answer cost plus contract Equipment needs for a project are BEST estimated by... - Correct Answer Calculating the number of hours or days it is needed What type of insurance is needed for a partnership to insure that the business does NOT go out of business if one partner dies? - Correct Answer Key man An owner hires a construction manager for a project. Which of the following is TRUE with regard to subcontractors? - Correct Answer The subcontractors are prime contractors What protects a contractor from risk? - Correct Answer Insurance An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - Correct Answer Identifies activities that MUST be completed before other activities can occur What may be covered by an allowance in a contract? - Correct Answer Light fixture costs Which of the following is considered ethical behavior? - Correct Answer Failing to disclose one subcontractor's bid to another Compensation paid to independent contractors is reported on Form... - Correct Answer 1099 The BEST business practice for special-ordered materials is to... - Correct Answer put the order requirements in writing