FLORIDA STATE BUSINESS AND FINANCE STUDY GUIDE
2025 QUESTIONS WITH ANSWERS RATED A+
✔✔2%/10 days net 30 is - ✔✔A discount of 2% if the customer pays the invoice within
10 days
✔✔Florida's right to Work Laws _____ - ✔✔Prevent employees from being forced to
join a union
✔✔Under the Florida Worker's Compensation act, a contractor may recover ______
from a subcontractor who has elected exemption from chapter 440 if the subcontractors
exemption is invalid and has caused liability to the contractor on employee - ✔✔Benefits
paid an interest due
✔✔Construction project schedule should have progress posted at least______ -
✔✔Weekly
✔✔A fine of up to ______ can be imposed on a contractor for finishing a job without
pulling a permit if it is the first offense. - ✔✔$5,000
✔✔An OSHA 300 safety lol must be retained by employers with at least _____
employees. - ✔✔11
✔✔Bitters and submitters requiring clarification of the bidding documents, shall make a
written request with shall reach the architect in at least ______ days, prior to the date
for receipt of bids. - ✔✔7
✔✔______ is a correct formula - ✔✔Assets minus liabilities equals equity
✔✔The ______ is an estimate a message that is not recommended for lump sum
contracts. - ✔✔Square footage method
✔✔The three C's of underwriting that surety industry considers before a contractor can
acquire a bond are. - ✔✔Capital character and capacity
✔✔The Florida sales tax is _____ - ✔✔Reported on form DR - 15 - CS and paid on a
monthly basis
✔✔Expanding a business usually requires a great deal of capital to purchase new
equipment, buildings or to obtain long-term financing. To qualify for expansion financing
financial institutes typically require that you have been in business at least ______ while
______ is preferred. - ✔✔2,5
, ✔✔If an employer conducts business in more than one location in Florida completion of
the multiple worksite report_____ will be required on a quarterly basis - ✔✔BLS-3020
✔✔A _____ is a special combination of two or more persons or entities, jointly seeking
a profit in Subs pissisng DICK'S venture, or for a specific job or undertaking with an
actual partnership or corporate designation. - ✔✔Joint venture
✔✔Fictitious names are valid for _____ years - ✔✔5
✔✔Which of the following are prohibited by Floridas right to work laws? - ✔✔Union shop
agreements, agency, Jerd shop agreements, maintenance of membership agreements.
(all of the above.)
✔✔OSHA records must be maintained for ______ - ✔✔5 years
✔✔If the contractor default or Nic likes to carry out the work and failed to do so within
_____ of receipt of written notice from the owner. The owner may correct such
deficiencies. - ✔✔10 days
✔✔The best way to accurately control petty cash is through a _____ - ✔✔Imprest
system
✔✔OSHA 300 belong on summary of occupational injuries and illnesses is used to
record _____ - ✔✔Accident investigations
✔✔ABC construction posit traction for 157,000. They can't do appreciate the tractor
over seven years. Using the straight line method to depreciation in the seventh year is
_____ - ✔✔$16,275
✔✔With a contractor must perform extra work for a subcontractor or material vendor
Contractor may proceed to recover the cost in the form of _____ - ✔✔Back charge
✔✔According to the contract manual under the completed contract message, a contract
is recognized as complete when it is in excess of ____ complete. - ✔✔98% or 99%
✔✔A change order is a written instrument, prepared by the architect and signed by
____ - ✔✔The owner, the contractor, and the architect
✔✔The job responsibilities of a superintendent include _______ - ✔✔Actively
participate in creation of a project schedule
2025 QUESTIONS WITH ANSWERS RATED A+
✔✔2%/10 days net 30 is - ✔✔A discount of 2% if the customer pays the invoice within
10 days
✔✔Florida's right to Work Laws _____ - ✔✔Prevent employees from being forced to
join a union
✔✔Under the Florida Worker's Compensation act, a contractor may recover ______
from a subcontractor who has elected exemption from chapter 440 if the subcontractors
exemption is invalid and has caused liability to the contractor on employee - ✔✔Benefits
paid an interest due
✔✔Construction project schedule should have progress posted at least______ -
✔✔Weekly
✔✔A fine of up to ______ can be imposed on a contractor for finishing a job without
pulling a permit if it is the first offense. - ✔✔$5,000
✔✔An OSHA 300 safety lol must be retained by employers with at least _____
employees. - ✔✔11
✔✔Bitters and submitters requiring clarification of the bidding documents, shall make a
written request with shall reach the architect in at least ______ days, prior to the date
for receipt of bids. - ✔✔7
✔✔______ is a correct formula - ✔✔Assets minus liabilities equals equity
✔✔The ______ is an estimate a message that is not recommended for lump sum
contracts. - ✔✔Square footage method
✔✔The three C's of underwriting that surety industry considers before a contractor can
acquire a bond are. - ✔✔Capital character and capacity
✔✔The Florida sales tax is _____ - ✔✔Reported on form DR - 15 - CS and paid on a
monthly basis
✔✔Expanding a business usually requires a great deal of capital to purchase new
equipment, buildings or to obtain long-term financing. To qualify for expansion financing
financial institutes typically require that you have been in business at least ______ while
______ is preferred. - ✔✔2,5
, ✔✔If an employer conducts business in more than one location in Florida completion of
the multiple worksite report_____ will be required on a quarterly basis - ✔✔BLS-3020
✔✔A _____ is a special combination of two or more persons or entities, jointly seeking
a profit in Subs pissisng DICK'S venture, or for a specific job or undertaking with an
actual partnership or corporate designation. - ✔✔Joint venture
✔✔Fictitious names are valid for _____ years - ✔✔5
✔✔Which of the following are prohibited by Floridas right to work laws? - ✔✔Union shop
agreements, agency, Jerd shop agreements, maintenance of membership agreements.
(all of the above.)
✔✔OSHA records must be maintained for ______ - ✔✔5 years
✔✔If the contractor default or Nic likes to carry out the work and failed to do so within
_____ of receipt of written notice from the owner. The owner may correct such
deficiencies. - ✔✔10 days
✔✔The best way to accurately control petty cash is through a _____ - ✔✔Imprest
system
✔✔OSHA 300 belong on summary of occupational injuries and illnesses is used to
record _____ - ✔✔Accident investigations
✔✔ABC construction posit traction for 157,000. They can't do appreciate the tractor
over seven years. Using the straight line method to depreciation in the seventh year is
_____ - ✔✔$16,275
✔✔With a contractor must perform extra work for a subcontractor or material vendor
Contractor may proceed to recover the cost in the form of _____ - ✔✔Back charge
✔✔According to the contract manual under the completed contract message, a contract
is recognized as complete when it is in excess of ____ complete. - ✔✔98% or 99%
✔✔A change order is a written instrument, prepared by the architect and signed by
____ - ✔✔The owner, the contractor, and the architect
✔✔The job responsibilities of a superintendent include _______ - ✔✔Actively
participate in creation of a project schedule
