1
FL BUSINESS AND FINANCE PRACTICE TEST EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
The owner must prove financial capability no later than ________ days prior to
the expiration of the time for withdrawal of bids. A. 3 B. 5 C.7 D.30 -
...(ANSWERS)....Answer: C. 7 - AIA 701.6.2
How many copies of the plans and specifications shall the contractor maintain on
site? A. 1 B. 2 C. 3 D. 4 - ...(ANSWERS)....Answer: A. 1 - AIA201 2.3.6
Contracts entered into by unlicensed contractors ________________. A. are
immoral B.are illegal C. are enforceable D. are unenforceable -
...(ANSWERS)....Answer: D. are unenforceable - CM 2-94 489.128
The subcontractor agrees that all work shall be done subject to the final approval
of the ______________________. A. architect B. contractor C. both A & B are
correct D. none of the above - ...(ANSWERS)....Answer: C. A & B are correct - AIA
401.4.2.5
Which of the following is NOT exempt from chapter 489? A. An employee of a
licensee who is subordinate of a construction licensee acting within the scope. B.
Owners of a property with a cost of $85,000. C. Contractors in work on bridges
and roads. D. Anybody doing work of a minor nature - less $1,000 or less. -
...(ANSWERS)....Answer B. Owners of property $85,000 - CM 2-63 489.103 Limit is
$75,000.
, 2
The architect has the sole responsibility for ordering __________________. A.
Change orders B. Construction change directives C. any minor change of work D.
any changes whatsoever - ...(ANSWERS)....Answer: C. any minor change in work -
AIA 201 7.1.2
When considering the location of your office, which of the following is not a
consideration? A. Zoning Ordinances B. Demographic makeup of community C.
Building Permits D. Flood Prone Area Maps - ...(ANSWERS)....Answer: B.
Demographic Makeup - CM 1-15
The bonding cost for a class "B" contract of $900,000 will cost
________________. A. $9,000 B. $10,000 C. $12,500 D. $22,500 -
...(ANSWERS)....Answer: C. $12,500 CM 4-18 Graduated scale: 1st- 100x25%+
2,500 2nd 400 x15%+ 6,000 3rd 400x 10%=4,000 Total $12,500
A project is to be considered abandoned after _________ days if the contractor
just terminates the project without notification to the owner and without cause.
A. 30 B. 60 C. 45 D. 90 - ...(ANSWERS)....Answer D. 90 - CM 2-96 , 489.129.1.j
If, at the end of a quarter, a contractor's total FUTA tax is $150, the contractor
_____________________. A. may add the tax to the amount for deposit for the
next quarter B. must deposit the tax during the 1st month after the quarter. C.
must deposit the tax during the 2nd month after the quarter D. must deposit the
tax during the 3rd month after the quarter. - ...(ANSWERS)....Answer: A. Add the
tax for the next quarter - CM 3-183
Which of the following is a first aid treatment not to be recorded on an OSHA #
200 log? A. administering a tetanus immunization B. administering a rabies
, 3
immunization C. application of bandages or a butterfly dressing in lieu of sutures.
D. a minor accident involving a loss of consciousness. - ...(ANSWERS)....Answer: A.
Administering a tetanus immunization - CM 7-24
Which of the following is NOT true about corporations? A. With an "S"
corporation there is no corporate tax - you pay taxes individual. B. Closely held
corporations operate more informally. C. There is no limit of shareholders for
either a C-type or S-type Corpo. D. C-type corpo have the possibility of double
taxation. - ...(ANSWERS)....Answer: C There is no limit of shareholders - CM 1-13
What is the term for expenses that are actually paid but not recognized as paid
until a later period? A. post paid costs B. deferred assets C. accrued expenses D.
long-term liabilities - ...(ANSWERS)....Answer: B. deferred assets - BGA 242
What is the maximum amount of compensation that a consumer is entitled to if
injured on a jobsite due to an unlicensed contractors negligence? A. 2X the
amount of damages. B. 2x the amount of damages plus attorney fees. C. 3X the
amount of damages D. 3x the amount of damages, plus attorney's fees -
...(ANSWERS)....Answer: D. 3x the amount plus attorney fees - CM 2-14
When developing a project schedule, which of the following should not influence
the development of the project shedule? A. manpower B. equipment schedules C.
completion date D. activity durations - ...(ANSWERS)....Answer: C Completion
date - CM 10-63
A contractor must serve a copy fo the claim of lien on the owner and lender (if
any) within how many days of the date the claim of lien is recorded? A. 15 B. 30 C.
60 D. 90 - ...(ANSWERS)....Answer: A. 15 CM 9-30
FL BUSINESS AND FINANCE PRACTICE TEST EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
The owner must prove financial capability no later than ________ days prior to
the expiration of the time for withdrawal of bids. A. 3 B. 5 C.7 D.30 -
...(ANSWERS)....Answer: C. 7 - AIA 701.6.2
How many copies of the plans and specifications shall the contractor maintain on
site? A. 1 B. 2 C. 3 D. 4 - ...(ANSWERS)....Answer: A. 1 - AIA201 2.3.6
Contracts entered into by unlicensed contractors ________________. A. are
immoral B.are illegal C. are enforceable D. are unenforceable -
...(ANSWERS)....Answer: D. are unenforceable - CM 2-94 489.128
The subcontractor agrees that all work shall be done subject to the final approval
of the ______________________. A. architect B. contractor C. both A & B are
correct D. none of the above - ...(ANSWERS)....Answer: C. A & B are correct - AIA
401.4.2.5
Which of the following is NOT exempt from chapter 489? A. An employee of a
licensee who is subordinate of a construction licensee acting within the scope. B.
Owners of a property with a cost of $85,000. C. Contractors in work on bridges
and roads. D. Anybody doing work of a minor nature - less $1,000 or less. -
...(ANSWERS)....Answer B. Owners of property $85,000 - CM 2-63 489.103 Limit is
$75,000.
, 2
The architect has the sole responsibility for ordering __________________. A.
Change orders B. Construction change directives C. any minor change of work D.
any changes whatsoever - ...(ANSWERS)....Answer: C. any minor change in work -
AIA 201 7.1.2
When considering the location of your office, which of the following is not a
consideration? A. Zoning Ordinances B. Demographic makeup of community C.
Building Permits D. Flood Prone Area Maps - ...(ANSWERS)....Answer: B.
Demographic Makeup - CM 1-15
The bonding cost for a class "B" contract of $900,000 will cost
________________. A. $9,000 B. $10,000 C. $12,500 D. $22,500 -
...(ANSWERS)....Answer: C. $12,500 CM 4-18 Graduated scale: 1st- 100x25%+
2,500 2nd 400 x15%+ 6,000 3rd 400x 10%=4,000 Total $12,500
A project is to be considered abandoned after _________ days if the contractor
just terminates the project without notification to the owner and without cause.
A. 30 B. 60 C. 45 D. 90 - ...(ANSWERS)....Answer D. 90 - CM 2-96 , 489.129.1.j
If, at the end of a quarter, a contractor's total FUTA tax is $150, the contractor
_____________________. A. may add the tax to the amount for deposit for the
next quarter B. must deposit the tax during the 1st month after the quarter. C.
must deposit the tax during the 2nd month after the quarter D. must deposit the
tax during the 3rd month after the quarter. - ...(ANSWERS)....Answer: A. Add the
tax for the next quarter - CM 3-183
Which of the following is a first aid treatment not to be recorded on an OSHA #
200 log? A. administering a tetanus immunization B. administering a rabies
, 3
immunization C. application of bandages or a butterfly dressing in lieu of sutures.
D. a minor accident involving a loss of consciousness. - ...(ANSWERS)....Answer: A.
Administering a tetanus immunization - CM 7-24
Which of the following is NOT true about corporations? A. With an "S"
corporation there is no corporate tax - you pay taxes individual. B. Closely held
corporations operate more informally. C. There is no limit of shareholders for
either a C-type or S-type Corpo. D. C-type corpo have the possibility of double
taxation. - ...(ANSWERS)....Answer: C There is no limit of shareholders - CM 1-13
What is the term for expenses that are actually paid but not recognized as paid
until a later period? A. post paid costs B. deferred assets C. accrued expenses D.
long-term liabilities - ...(ANSWERS)....Answer: B. deferred assets - BGA 242
What is the maximum amount of compensation that a consumer is entitled to if
injured on a jobsite due to an unlicensed contractors negligence? A. 2X the
amount of damages. B. 2x the amount of damages plus attorney fees. C. 3X the
amount of damages D. 3x the amount of damages, plus attorney's fees -
...(ANSWERS)....Answer: D. 3x the amount plus attorney fees - CM 2-14
When developing a project schedule, which of the following should not influence
the development of the project shedule? A. manpower B. equipment schedules C.
completion date D. activity durations - ...(ANSWERS)....Answer: C Completion
date - CM 10-63
A contractor must serve a copy fo the claim of lien on the owner and lender (if
any) within how many days of the date the claim of lien is recorded? A. 15 B. 30 C.
60 D. 90 - ...(ANSWERS)....Answer: A. 15 CM 9-30
