VA Contractors: General (Class A or
B)Correct 100%
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
Equipment needs for a project are BEST estimated by... - 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? - 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
What protects a contractor from risk? - ANSWER Insurance
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
B)Correct 100%
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
Equipment needs for a project are BEST estimated by... - 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? - 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
What protects a contractor from risk? - ANSWER Insurance
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
