ASCLA PSI EXAM
PRACTICE Questions
and Complete Solutions
Graded A+
FOB freight prepaid requires __________ to pay for shipping charges - Answer: Seller 14-12
Which of the following is not a member of the supervisory team? - Answer: Project manager 9-7
__________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a
simplified method. - Answer: Calendar 9-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant with a
pamphlet title _________? - Answer: Protect your family from lead in your home 12-14
You have ___________ days from the completion of a commercial structure or commercial construction
project to file a lien claim form. - Answer: 90 16-2
A lump sum contract on a project has a total contact price of $260,000. Retainage has been held back at
10%. The contractor has received progress payments for 75% of the project. The contractor submit a
request for final payment should be for? - Answer: More than $80,000 $260,000 * .35= $91,000
Which of the following is not a key characteristic of a sole proprietor ship? - Answer: Business expenses
and personal income are not separated. 2-1
What is the quick ratio or or acid test ratio for a company that has current assets of $28,000, inventory
of $4000, and current liabilities of $6000? - Answer: 4/1 14-7
, An EAP is required to be in writing for______employees or more. - Answer: 11 12-3
Who pays into FUTA? - Answer: Employer 15-5
What is the purpose of just in time deliveries? - Answer: Profit high and vandalism low. 9-9
Ethics has to do with all but which of the following? - Answer: Lying to the customer. 5-2
Which of the following is not a reward for owning a enterprise? - Answer: Managing cash flow 1-1
Which of the following is not covered under the ADA? - Answer: Paper cut. 11-7
A job estimated to cost $1 million. However, two companies have a Of $500,000. They can legally do this
job if they___? - Answer: Joint venture. 2-6
The standard make up in the construction industry is? - Answer: 15%. 7-7
Which is not an advantage of a partnership? - Answer: Multiple decision makers. 2-2
___Prohibits firing due to taking of property. - Answer: Wage Garnishment law 11-8
The maximum number of shareholders permitted within an S corporation is? - Answer: 75 2-5
The state sales tax is___Percent of the gross sales for materials purchased or leased in New Jersey. -
Answer: 6 15-8
Delegating provides for all but the following? - Answer: I can do it all 5-1,5-2
PRACTICE Questions
and Complete Solutions
Graded A+
FOB freight prepaid requires __________ to pay for shipping charges - Answer: Seller 14-12
Which of the following is not a member of the supervisory team? - Answer: Project manager 9-7
__________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a
simplified method. - Answer: Calendar 9-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant with a
pamphlet title _________? - Answer: Protect your family from lead in your home 12-14
You have ___________ days from the completion of a commercial structure or commercial construction
project to file a lien claim form. - Answer: 90 16-2
A lump sum contract on a project has a total contact price of $260,000. Retainage has been held back at
10%. The contractor has received progress payments for 75% of the project. The contractor submit a
request for final payment should be for? - Answer: More than $80,000 $260,000 * .35= $91,000
Which of the following is not a key characteristic of a sole proprietor ship? - Answer: Business expenses
and personal income are not separated. 2-1
What is the quick ratio or or acid test ratio for a company that has current assets of $28,000, inventory
of $4000, and current liabilities of $6000? - Answer: 4/1 14-7
, An EAP is required to be in writing for______employees or more. - Answer: 11 12-3
Who pays into FUTA? - Answer: Employer 15-5
What is the purpose of just in time deliveries? - Answer: Profit high and vandalism low. 9-9
Ethics has to do with all but which of the following? - Answer: Lying to the customer. 5-2
Which of the following is not a reward for owning a enterprise? - Answer: Managing cash flow 1-1
Which of the following is not covered under the ADA? - Answer: Paper cut. 11-7
A job estimated to cost $1 million. However, two companies have a Of $500,000. They can legally do this
job if they___? - Answer: Joint venture. 2-6
The standard make up in the construction industry is? - Answer: 15%. 7-7
Which is not an advantage of a partnership? - Answer: Multiple decision makers. 2-2
___Prohibits firing due to taking of property. - Answer: Wage Garnishment law 11-8
The maximum number of shareholders permitted within an S corporation is? - Answer: 75 2-5
The state sales tax is___Percent of the gross sales for materials purchased or leased in New Jersey. -
Answer: 6 15-8
Delegating provides for all but the following? - Answer: I can do it all 5-1,5-2
