Virginia Contractor's Exam Correct 100%
What is the MAXIMUM penalty for a contractor who undertakes work without the proper
class of license? - ANSWER $500 fine per day for each day of violation plus penalties
for a misdemeanor.
What is the PRIMARY purpose of licensing? - ANSWER Protect the health and welfare
of the public.
The application for licensure MUST include - ANSWER the business address of the
proposed designated employee.
All of the following must be licensed EXCEPT - ANSWER a material supplier who
advises a contractor.
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER
the contractor's license is revoked.
All Class A contractor licensure applications MUST include - ANSWER information on
the knowledge, skills, and abilities of the applicant.
Which of the following is a requirement for a joint venture? - ANSWER Either the joint
venture or each contracting party of the joint venture must be licensed
How much is the Class A initial license fee not including the Recovery Fund fee? -
ANSWER $360
According to the Board Rules and Regulations, a full-time employee is one who works a
MINIMUM of how many hours per week? - ANSWER 30 hours.
According to the Board Rules and Regulations, which of the following could be a
qualified individual? - ANSWER Any full-time employee
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net
worth of - ANSWER $15,000
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - ANSWER attorneys' fees.
A contract for which of the following types of structures may be subject to recovery from
the Transaction Recovery Fund? - ANSWER Residential only
An appeal of a final decision of a county on an erosion control plan MUST be filed within
a MAXIMUM of how many days? - ANSWER 30 days.
, Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? - ANSWER 30 days.
Which of the following statements about a sole proprietorship is TRUE? - ANSWER 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? -
ANSWER Partnership
All of the following are considered general conditions that could affect costs directly
associated with a specific project EXCEPT - ANSWER profit margin.
The two basic laws of construction estimating are - ANSWER low estimates decrease
profits and high estimates decrease volume.
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - ANSWER Labor burden.
A reason for using a lower than usual profit markup for a specific project could be to -
ANSWER cover company overhead costs
What MUST be included in an estimate for a job? - ANSWER Materials, labor,
equipment, and overhead costs.
Which of the following estimating methods is typically used by the architect rather than
the contractor? - ANSWER Conceptual estimate.
A contractor should do all of the following when estimating a project EXCEPT -
ANSWER assume ideal conditions.
Which of the following is a TRUE statement about estimating? - ANSWER Both
overestimating and underestimating costs could have disastrous consequences.
Equipment needs for a project are BEST estimated by - ANSWER calculating the
number of hours or days it is needed
Costs that relate to construction activity but are NOT easily identifiable for a specific
project are considered - ANSWER project overhead.
Generally, who is responsible for ensuring that a project meets all zoning requirements?
- ANSWER Project owner.
The three PRIMARY elements of a contract are - ANSWER offer, acceptance, and
consideration
What is the MAXIMUM penalty for a contractor who undertakes work without the proper
class of license? - ANSWER $500 fine per day for each day of violation plus penalties
for a misdemeanor.
What is the PRIMARY purpose of licensing? - ANSWER Protect the health and welfare
of the public.
The application for licensure MUST include - ANSWER the business address of the
proposed designated employee.
All of the following must be licensed EXCEPT - ANSWER a material supplier who
advises a contractor.
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER
the contractor's license is revoked.
All Class A contractor licensure applications MUST include - ANSWER information on
the knowledge, skills, and abilities of the applicant.
Which of the following is a requirement for a joint venture? - ANSWER Either the joint
venture or each contracting party of the joint venture must be licensed
How much is the Class A initial license fee not including the Recovery Fund fee? -
ANSWER $360
According to the Board Rules and Regulations, a full-time employee is one who works a
MINIMUM of how many hours per week? - ANSWER 30 hours.
According to the Board Rules and Regulations, which of the following could be a
qualified individual? - ANSWER Any full-time employee
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net
worth of - ANSWER $15,000
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - ANSWER attorneys' fees.
A contract for which of the following types of structures may be subject to recovery from
the Transaction Recovery Fund? - ANSWER Residential only
An appeal of a final decision of a county on an erosion control plan MUST be filed within
a MAXIMUM of how many days? - ANSWER 30 days.
, Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? - ANSWER 30 days.
Which of the following statements about a sole proprietorship is TRUE? - ANSWER 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? -
ANSWER Partnership
All of the following are considered general conditions that could affect costs directly
associated with a specific project EXCEPT - ANSWER profit margin.
The two basic laws of construction estimating are - ANSWER low estimates decrease
profits and high estimates decrease volume.
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - ANSWER Labor burden.
A reason for using a lower than usual profit markup for a specific project could be to -
ANSWER cover company overhead costs
What MUST be included in an estimate for a job? - ANSWER Materials, labor,
equipment, and overhead costs.
Which of the following estimating methods is typically used by the architect rather than
the contractor? - ANSWER Conceptual estimate.
A contractor should do all of the following when estimating a project EXCEPT -
ANSWER assume ideal conditions.
Which of the following is a TRUE statement about estimating? - ANSWER Both
overestimating and underestimating costs could have disastrous consequences.
Equipment needs for a project are BEST estimated by - ANSWER calculating the
number of hours or days it is needed
Costs that relate to construction activity but are NOT easily identifiable for a specific
project are considered - ANSWER project overhead.
Generally, who is responsible for ensuring that a project meets all zoning requirements?
- ANSWER Project owner.
The three PRIMARY elements of a contract are - ANSWER offer, acceptance, and
consideration
