Advanced Portion Exam Questions
with Correct Answers
Which of these is the traditional form of contracting method? - ANSWERSSingle Prime
What is the Virginia sales tax rate a combination of ? - ANSWERS4 percent state tax
and 1 percent local
What is the difference between fixed and current assets? - ANSWERSCurrent assets
can be converted into cash or already are cash, fixed assets are not converted
Which of these forms is NOT required to be in an employee file? - ANSWERSA bid for a
project
If a companys current assets are $12,000, inventory is $2,000, and current liabilities are
$6,000, then what is the Liquidity Ration of the company? - ANSWERS2
In the ______ method of construction, the construction manager will manage,
coordinate, and supervise the entire construction process. - ANSWERSConstruction
Management
If a company has a total payroll tax liability of $50,000 or less for the four previous
quarters, what kind of deposit schedule does it adhere to? - ANSWERSMonthly
What can a post-job-offer medical examination accomplish? - ANSWERSDetermine
whether the individual would be a direct threat to the health and safety of the workplace
At what point does a contractor decided to bid upon a project? - ANSWERSAfter
receiving and invitation to bid
If a contractor has $400,000 in current assets and $300,000 in current liabilities, what is
the bond capacity? - ANSWERS100,000
What is the definition of current liability? - ANSWERSAny money owed by the
contracting company that must be paid within one year
Which of these is considered a material breach? - ANSWERSWhen the contractors
refuses to build
Which of these questions should you ask during a job interview? - ANSWERSSkills in
dealing with conflict
with Correct Answers
Which of these is the traditional form of contracting method? - ANSWERSSingle Prime
What is the Virginia sales tax rate a combination of ? - ANSWERS4 percent state tax
and 1 percent local
What is the difference between fixed and current assets? - ANSWERSCurrent assets
can be converted into cash or already are cash, fixed assets are not converted
Which of these forms is NOT required to be in an employee file? - ANSWERSA bid for a
project
If a companys current assets are $12,000, inventory is $2,000, and current liabilities are
$6,000, then what is the Liquidity Ration of the company? - ANSWERS2
In the ______ method of construction, the construction manager will manage,
coordinate, and supervise the entire construction process. - ANSWERSConstruction
Management
If a company has a total payroll tax liability of $50,000 or less for the four previous
quarters, what kind of deposit schedule does it adhere to? - ANSWERSMonthly
What can a post-job-offer medical examination accomplish? - ANSWERSDetermine
whether the individual would be a direct threat to the health and safety of the workplace
At what point does a contractor decided to bid upon a project? - ANSWERSAfter
receiving and invitation to bid
If a contractor has $400,000 in current assets and $300,000 in current liabilities, what is
the bond capacity? - ANSWERS100,000
What is the definition of current liability? - ANSWERSAny money owed by the
contracting company that must be paid within one year
Which of these is considered a material breach? - ANSWERSWhen the contractors
refuses to build
Which of these questions should you ask during a job interview? - ANSWERSSkills in
dealing with conflict
