Louisiana business and law practice exam questions and correct answers
(verified answers) plus rationales 2025 q&a
Bid Shopping - -What occurs when bids are revealed to create more
competition?
-prevent double taxation - -What benefits does an S corporation have?
-12 weeks - -How many weeks are employees entitled to under the Family
Medical Leave Act
-20 weeks - -Federal Unemployment tax must be paid after an employee
works ____ weeks
-liabilities/assets - -What is the debt ratio?
-$50,000 - -A contractor's license is needed when the residential project is
valued over ___
-when signed - -When is a contract considered accepted?
-Quantity take off method - -What is the most accurate method of estimate?
-$100.000 - -Projects worth how much require bonds under the Miller Act?
-Liquidity - -assets/liability is which ratio?
-Bid bond
performance bond
payment bond - -Types of surety bonds
-Bid Bond - -promise to complete the project for the bid price and provide a
performance and payment bond.
-performance bond - -promise that the project will be finished w/in the
promised time and w/in spec.
-payment bond - -Promise that the employees, subcontractors and suppliers
will be paid
-
(verified answers) plus rationales 2025 q&a
Bid Shopping - -What occurs when bids are revealed to create more
competition?
-prevent double taxation - -What benefits does an S corporation have?
-12 weeks - -How many weeks are employees entitled to under the Family
Medical Leave Act
-20 weeks - -Federal Unemployment tax must be paid after an employee
works ____ weeks
-liabilities/assets - -What is the debt ratio?
-$50,000 - -A contractor's license is needed when the residential project is
valued over ___
-when signed - -When is a contract considered accepted?
-Quantity take off method - -What is the most accurate method of estimate?
-$100.000 - -Projects worth how much require bonds under the Miller Act?
-Liquidity - -assets/liability is which ratio?
-Bid bond
performance bond
payment bond - -Types of surety bonds
-Bid Bond - -promise to complete the project for the bid price and provide a
performance and payment bond.
-performance bond - -promise that the project will be finished w/in the
promised time and w/in spec.
-payment bond - -Promise that the employees, subcontractors and suppliers
will be paid
-
