MHIC NASCLA Contractors Exam Study
Guide With 100% Complete Solution
Howilongidoesiaiclaimantihaveitoibringiaiclaimiagains
titheiguarantyifund?i-iCorrectiAnswer-
3iyearsifromidiscoveryiofitheilossioridamage
Howimanyidaysidoesiaicontractorihaveitoirespondiiniw
ritingitoitheicopyioficlaimithatiwasisentibyitheicommis
sion?i-iCorrectiAnswer-10idays
Ifiwithini________iafteritheicommissionigivesinoticei,iai
contractorioniwhoseiamountiaiclaimiwasipaididoesino
tireimburseitheifundiinifull,itheicommissionimayisueit
heicontractoriforireimbursement.i-iCorrectiAnswer-
60idays
Iniaddtionitoifullireimbursementiofitheifund,iaicontra
ctoriisiresponsibleitoipayiatileasti_________interestionit
heiamountitoireimburse.i-iCorrectiAnswer-10i%
Theistateicanirecordiailieniagainstianyirealipropertyio
wnersibyitheicontractoriforiaidebtioweditoitheifundi-
iCorrectiAnswer-True
Ifitheicommissionipaysiaiclaimifromitheifundibaseionit
heiactionsioriomissionsiofiaicontractor,itheicommissi
onimayisuspenditheicontractorsilicenseiuntilifullireim
bursementiofitheifundiplusiatileasti10%interesti-
iCorrectiAnswer-True
Aihomeiimprovementicontractiinicomplianceiwithithe
ihomeiimprovementilawsiwouldiincludeialliofitheifollo
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Guide With 100% Complete Solution
Howilongidoesiaiclaimantihaveitoibringiaiclaimiagains
titheiguarantyifund?i-iCorrectiAnswer-
3iyearsifromidiscoveryiofitheilossioridamage
Howimanyidaysidoesiaicontractorihaveitoirespondiiniw
ritingitoitheicopyioficlaimithatiwasisentibyitheicommis
sion?i-iCorrectiAnswer-10idays
Ifiwithini________iafteritheicommissionigivesinoticei,iai
contractorioniwhoseiamountiaiclaimiwasipaididoesino
tireimburseitheifundiinifull,itheicommissionimayisueit
heicontractoriforireimbursement.i-iCorrectiAnswer-
60idays
Iniaddtionitoifullireimbursementiofitheifund,iaicontra
ctoriisiresponsibleitoipayiatileasti_________interestionit
heiamountitoireimburse.i-iCorrectiAnswer-10i%
Theistateicanirecordiailieniagainstianyirealipropertyio
wnersibyitheicontractoriforiaidebtioweditoitheifundi-
iCorrectiAnswer-True
Ifitheicommissionipaysiaiclaimifromitheifundibaseionit
heiactionsioriomissionsiofiaicontractor,itheicommissi
onimayisuspenditheicontractorsilicenseiuntilifullireim
bursementiofitheifundiplusiatileasti10%interesti-
iCorrectiAnswer-True
Aihomeiimprovementicontractiinicomplianceiwithithe
ihomeiimprovementilawsiwouldiincludeialliofitheifollo
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