Virginia practice exam 100% Accurate
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST
pay this fee within a MINIMUM of how many days from when the assessment fee notice
was mailed? - ANSWER 45 days
An appeal of a final decision of a county on an erosion control plan MUST be filed with a
MAXIMUM of how many days? - ANSWER 30 days
All Class A contractor licensure applications MUST include: - ANSWER Information on
the knowledge, skills, abilities of the applicant
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER
The contractors license is revoked
Which of the following is a requirement for a joint venture? - ANSWER Either the joint
venture or each contracting party of joint venture must be licensed
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the
Fund balance is less than - ANSWER $400,000
according to the board rules and regulations, which if the following could be a qualified
individual - ANSWER Any full-time employee
A verified claim for the payment from the Transaction Recovery Fund MUST occur
within a MAXIMUM of what period of time from the date the claimant was awarded a
final judgement - ANSWER 12 months
When must the work be stopped following the issuance of a stop order - ANSWER
Immediately
A licenses name change must be reported to the board within a maximum of how many
days? - ANSWER 30 days
What is the primary purpose of licensing - ANSWER Protect the health and welfare of
the public
All of the following must be licensed except - ANSWER A material supplier who advises
a contractor
Additions to building must comply with - ANSWER The current code for the new
construction
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - ANSWER Attorneys fees
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST
pay this fee within a MINIMUM of how many days from when the assessment fee notice
was mailed? - ANSWER 45 days
An appeal of a final decision of a county on an erosion control plan MUST be filed with a
MAXIMUM of how many days? - ANSWER 30 days
All Class A contractor licensure applications MUST include: - ANSWER Information on
the knowledge, skills, abilities of the applicant
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER
The contractors license is revoked
Which of the following is a requirement for a joint venture? - ANSWER Either the joint
venture or each contracting party of joint venture must be licensed
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the
Fund balance is less than - ANSWER $400,000
according to the board rules and regulations, which if the following could be a qualified
individual - ANSWER Any full-time employee
A verified claim for the payment from the Transaction Recovery Fund MUST occur
within a MAXIMUM of what period of time from the date the claimant was awarded a
final judgement - ANSWER 12 months
When must the work be stopped following the issuance of a stop order - ANSWER
Immediately
A licenses name change must be reported to the board within a maximum of how many
days? - ANSWER 30 days
What is the primary purpose of licensing - ANSWER Protect the health and welfare of
the public
All of the following must be licensed except - ANSWER A material supplier who advises
a contractor
Additions to building must comply with - ANSWER The current code for the new
construction
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - ANSWER Attorneys fees
