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VA Contractors: VA Advanced (Class A) |
certified exam questions with verified
solutions
How much is an employer who withheld employee Medicare and Social Security
taxes or $765 required to send to the IRS? - correct-answer -$1,530
An insurer offers the contractor a 20% per year reduction in premiums if the
contractor has a defied safety program in place. The insurer's standard rates are
$8 per $1,000 of coverage. The contractor has $300,000 in coverage. How much in
premiums will the contractor save a 3-year period by having a defined safety
program in place? - correct-answer -Between $1,001 and $1,500
Where would depreciation of equipment first be entered? - correct-answer -
General journal
What is the gross pay of a non-exempt employee who works 45 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The employee
earns $12.50 per hour. - correct-answer -$693.75
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A contractor pays a workers' compensation rate of $0.08 per $100 of office
employee payroll, $0.15 per $100 of field supervisor payroll, and $0.26 per $100
of field employee payroll. Total office employee payroll for the year is $25,000.
Total field supervisor payroll is $48,000. Total field employee payroll is $225,000.
The contractor receives a discount of 5% of total premiums for having a safety
program in place. The total workers' compensation for the year is... - correct-
answer -More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8.
The materials are needed when labor begins on May 11. It is estimated that 15
days of labor are REQUIRED. The crew will work every day, including weekends
and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - correct-answer -13
A contractor puts in a claim under a comprehensive standard general liability
policy. The policy has no additional coverage, riders, or floaters, and has a $500
deductible per occurrence. The claim is for a job-site accident that caused $2,000
of injuries to employees, $1,800 of injuries to a pedestrian, $2,300 damage to the
contractor's equipment, and $1,750 loss of project materials purchased by the
contractor. The insurance company is liable for... - correct-answer -$1,300
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who
notifies the lien agent for a two-family residential property on August 1 that the
subcontractor first provided labor and materials on the project on May 1? The
subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - correct-answer -$8,000
VA Contractors: VA Advanced (Class A) |
certified exam questions with verified
solutions
How much is an employer who withheld employee Medicare and Social Security
taxes or $765 required to send to the IRS? - correct-answer -$1,530
An insurer offers the contractor a 20% per year reduction in premiums if the
contractor has a defied safety program in place. The insurer's standard rates are
$8 per $1,000 of coverage. The contractor has $300,000 in coverage. How much in
premiums will the contractor save a 3-year period by having a defined safety
program in place? - correct-answer -Between $1,001 and $1,500
Where would depreciation of equipment first be entered? - correct-answer -
General journal
What is the gross pay of a non-exempt employee who works 45 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The employee
earns $12.50 per hour. - correct-answer -$693.75
, 2|Page
A contractor pays a workers' compensation rate of $0.08 per $100 of office
employee payroll, $0.15 per $100 of field supervisor payroll, and $0.26 per $100
of field employee payroll. Total office employee payroll for the year is $25,000.
Total field supervisor payroll is $48,000. Total field employee payroll is $225,000.
The contractor receives a discount of 5% of total premiums for having a safety
program in place. The total workers' compensation for the year is... - correct-
answer -More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8.
The materials are needed when labor begins on May 11. It is estimated that 15
days of labor are REQUIRED. The crew will work every day, including weekends
and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - correct-answer -13
A contractor puts in a claim under a comprehensive standard general liability
policy. The policy has no additional coverage, riders, or floaters, and has a $500
deductible per occurrence. The claim is for a job-site accident that caused $2,000
of injuries to employees, $1,800 of injuries to a pedestrian, $2,300 damage to the
contractor's equipment, and $1,750 loss of project materials purchased by the
contractor. The insurance company is liable for... - correct-answer -$1,300
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who
notifies the lien agent for a two-family residential property on August 1 that the
subcontractor first provided labor and materials on the project on May 1? The
subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - correct-answer -$8,000
