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FLORIDA BUILDING CONTRACTOR
BUSINESS/FINANCE STUDY EXAM | ALL QUESTIONS
AND CORRECT ANSWERS | GRADED A+ | LATEST
EXAM | VERIFIED ANSWERS | JUST RELEASED
1. How many employees must an employer have before he must apply for
workers compensation insurance? - (ANSWER)1 or more
2. The most important aspect to consider when bidding is: - (ANSWER)Profit
3. What does the acronym GAAP signify in accounting? - (ANSWER)Generally
Accepted Accounted Principles
4. If I fail one or more portions of the examination, do I have to retake all parts
again? - (ANSWER)No, only the exams on which he or she failed to achieve a
passing score
5. In order to obtain a building permit the following is required: - (ANSWER)Filling
out an application
6. When can you allow your employee to view their personal file? -
(ANSWER)Whenever they wish to
7. A payment bond would be posted by the: - (ANSWER)Prime contractor or
property owner
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8. How long after I pass the examinations do I have to apply for Initial Licensure? -
(ANSWER)Four years
9. Are contractors required to qualify a construction business? - (ANSWER)Yes
10. A payment bond guarantees that the bonding company will pay valid claims
for unpaid bills owed by the ______ posting the bond. - (ANSWER)Prime
contractor or property owner
11. Before the completion of work the person who authorizes a temporary
certificate of __________ is the building official. - (ANSWER)Occupancy
12. Majority for the negotiated construction contracts are on a ________ basis. -
(ANSWER)Cost plus fee
13. What must a contractor do to prevent cash flow problems at the end of a
construction project? - (ANSWER)Obtain a line of credit from a bank
14. What should be done with the contractors IRS form W-2? - (ANSWER)File a
copy in the contractor's office
15. By law, your workers may not be younger than ______ of age. - (ANSWER)16
FLORIDA BUILDING CONTRACTOR
BUSINESS/FINANCE STUDY EXAM | ALL QUESTIONS
AND CORRECT ANSWERS | GRADED A+ | LATEST
EXAM | VERIFIED ANSWERS | JUST RELEASED
1. How many employees must an employer have before he must apply for
workers compensation insurance? - (ANSWER)1 or more
2. The most important aspect to consider when bidding is: - (ANSWER)Profit
3. What does the acronym GAAP signify in accounting? - (ANSWER)Generally
Accepted Accounted Principles
4. If I fail one or more portions of the examination, do I have to retake all parts
again? - (ANSWER)No, only the exams on which he or she failed to achieve a
passing score
5. In order to obtain a building permit the following is required: - (ANSWER)Filling
out an application
6. When can you allow your employee to view their personal file? -
(ANSWER)Whenever they wish to
7. A payment bond would be posted by the: - (ANSWER)Prime contractor or
property owner
, 2
8. How long after I pass the examinations do I have to apply for Initial Licensure? -
(ANSWER)Four years
9. Are contractors required to qualify a construction business? - (ANSWER)Yes
10. A payment bond guarantees that the bonding company will pay valid claims
for unpaid bills owed by the ______ posting the bond. - (ANSWER)Prime
contractor or property owner
11. Before the completion of work the person who authorizes a temporary
certificate of __________ is the building official. - (ANSWER)Occupancy
12. Majority for the negotiated construction contracts are on a ________ basis. -
(ANSWER)Cost plus fee
13. What must a contractor do to prevent cash flow problems at the end of a
construction project? - (ANSWER)Obtain a line of credit from a bank
14. What should be done with the contractors IRS form W-2? - (ANSWER)File a
copy in the contractor's office
15. By law, your workers may not be younger than ______ of age. - (ANSWER)16
