100 Practice Questions for the
Florida Contractors Manual
Questions And Answers
A properly registered fictitious name is valid for ________________
A. 1 year
B. 2 years
C. 3 years
D. 5 years - Correct Answer - D. 5 years
1-15
Which of the following would have jurisdiction over dredging or excavation of
navigable waters and wetlands?
A. U.S. Dept. of the Interior
B. Florida Dept. of State
C. Florida Dept.of Transportation
D. U.S Army Corps of Engineers - Correct Answer - D. U.S Army Corps of
Engineers
1-16
The name of the form which is used to apply for sales tax is?
A. W2
,B. DR-1
C. S1
D. W4 - Correct Answer - B. DR-1
1-21
Which of the following is NOT true about a fictitious name registration?
A. Valid for 5 years.
B. The fictitious name must be advertised at least one time.
C. If a change of ownership occurs, the owner(s) of record must file a
cancellation and registration within 45 days of filing,
D. Fictitious name registration must be renewed between July 1 and
December 31 in the expiration year. - Correct Answer - C. If a change of
ownership occurs, the owner(s) of record must file a cancellation and
registration within 45 days of filing,
1-15
Three partners, Noah, Evan & Steven form a partnership. Noah invests
$30,000; Steven invests $20,000 and Evan invests $15,000. In addition, Noah
performs specific management functions for which he is paid $5,000 from the
partnership proceeds. If the partnership earns $244,000, how much will Noah
receive?
A. Less than $70,000
B. Between $70,000 -$90,000
C. Between $90,000-$110,000
D. More than $110,000 - Correct Answer - D. More than $110,000
1-12
If the above partnership were dissolved, showing a net loss of $60,000, how
much would Noah owe?
,A. $60,000
B. $4,666
C. $20,000
D. $0.00 - Correct Answer - A. $60,000
1-13
According to the Contractor's Manual, starting capital should be enough to
cover living expenses for between which of the following?
A. 3 months to a year
B. 6 months to a year
C. 9 months to a year
D. at least a year - Correct Answer - A. 3 months to a year
1-17
A Partnership will be dissolved if which of the following applies?
A. mUnlawfuI mActivity
B. mFailing mto mhave ma mprimary mqualifying magent
C. mA mcourt mdecree munder mthe mpartnership mact
D. mA mand mC m1-29 m- mCorrect mAnswer m- mD. mA mand mC m1-29
1-29
Which mof mthe mfollowing mis mNOT mcharacteristic mabout ma mGeneral mand
mLimited mPartnership?
A. mThe mlimited mpartnership mhas mtwo mtypes mof mpartners; ma mpartnership monly
mone. m
B. mThe mgeneral mpartners mof ma mlimited mpartnership mhave mlimited mpersonal
mliability; mthe mpartners mof ma mpartnership mdo mnot. m
C. mIn ma mlimited mpartnership mthe mlimited mpartners mhave mno mmanagement
mresponsibility.
, D. mThe mgeneral mpartner mhas mjoint mand mseveral mliability; mthe mlimited mpartner
mdoes mnot m- mCorrect mAnswer m- mC. mIn ma mlimited mpartnership mthe mlimited
mpartners mhave mno mmanagement mresponsibility.
1-12
Which mof mthe mfollowing mis mNOT mtrue mabout ma msole mproprietor, ma/k/a mDBA,
moperating ma mbusiness min mhis mown mname?
A. mA mbusiness mfictitious mname mfiling mis mnecessary.
B. mA mbusiness mTax mIdentification mNumber mfiling mis mnecessary.
C. mNeither mA mnor mB m
D. mBoth mA mand mB m- mCorrect mAnswer m- mD. mBoth mA mand mB
1-11
Which mof mthe mfollowing mis man madvantage mof mowning ma mcorporation?
A. mContinuity mof mexistence. m
B. mLack mof mcentralized mcontrol.
C. msharing mof mideas mand mmanagement mresponsibility.
D. mEasier mto mcreate. m- mCorrect mAnswer m- mA. mContinuity mof mexistence. m
1-11
Unlicensed mpractice mof ma mprofession mis mpunishable mby man madministrative
mpenalty mnot mto mexceed m_______.
A. m$500
B. m$1,000
C. m$5,000 m
D. m$12,500 m- mCorrect mAnswer m- mC. m$5,000 m
455.228(1)
Florida Contractors Manual
Questions And Answers
A properly registered fictitious name is valid for ________________
A. 1 year
B. 2 years
C. 3 years
D. 5 years - Correct Answer - D. 5 years
1-15
Which of the following would have jurisdiction over dredging or excavation of
navigable waters and wetlands?
A. U.S. Dept. of the Interior
B. Florida Dept. of State
C. Florida Dept.of Transportation
D. U.S Army Corps of Engineers - Correct Answer - D. U.S Army Corps of
Engineers
1-16
The name of the form which is used to apply for sales tax is?
A. W2
,B. DR-1
C. S1
D. W4 - Correct Answer - B. DR-1
1-21
Which of the following is NOT true about a fictitious name registration?
A. Valid for 5 years.
B. The fictitious name must be advertised at least one time.
C. If a change of ownership occurs, the owner(s) of record must file a
cancellation and registration within 45 days of filing,
D. Fictitious name registration must be renewed between July 1 and
December 31 in the expiration year. - Correct Answer - C. If a change of
ownership occurs, the owner(s) of record must file a cancellation and
registration within 45 days of filing,
1-15
Three partners, Noah, Evan & Steven form a partnership. Noah invests
$30,000; Steven invests $20,000 and Evan invests $15,000. In addition, Noah
performs specific management functions for which he is paid $5,000 from the
partnership proceeds. If the partnership earns $244,000, how much will Noah
receive?
A. Less than $70,000
B. Between $70,000 -$90,000
C. Between $90,000-$110,000
D. More than $110,000 - Correct Answer - D. More than $110,000
1-12
If the above partnership were dissolved, showing a net loss of $60,000, how
much would Noah owe?
,A. $60,000
B. $4,666
C. $20,000
D. $0.00 - Correct Answer - A. $60,000
1-13
According to the Contractor's Manual, starting capital should be enough to
cover living expenses for between which of the following?
A. 3 months to a year
B. 6 months to a year
C. 9 months to a year
D. at least a year - Correct Answer - A. 3 months to a year
1-17
A Partnership will be dissolved if which of the following applies?
A. mUnlawfuI mActivity
B. mFailing mto mhave ma mprimary mqualifying magent
C. mA mcourt mdecree munder mthe mpartnership mact
D. mA mand mC m1-29 m- mCorrect mAnswer m- mD. mA mand mC m1-29
1-29
Which mof mthe mfollowing mis mNOT mcharacteristic mabout ma mGeneral mand
mLimited mPartnership?
A. mThe mlimited mpartnership mhas mtwo mtypes mof mpartners; ma mpartnership monly
mone. m
B. mThe mgeneral mpartners mof ma mlimited mpartnership mhave mlimited mpersonal
mliability; mthe mpartners mof ma mpartnership mdo mnot. m
C. mIn ma mlimited mpartnership mthe mlimited mpartners mhave mno mmanagement
mresponsibility.
, D. mThe mgeneral mpartner mhas mjoint mand mseveral mliability; mthe mlimited mpartner
mdoes mnot m- mCorrect mAnswer m- mC. mIn ma mlimited mpartnership mthe mlimited
mpartners mhave mno mmanagement mresponsibility.
1-12
Which mof mthe mfollowing mis mNOT mtrue mabout ma msole mproprietor, ma/k/a mDBA,
moperating ma mbusiness min mhis mown mname?
A. mA mbusiness mfictitious mname mfiling mis mnecessary.
B. mA mbusiness mTax mIdentification mNumber mfiling mis mnecessary.
C. mNeither mA mnor mB m
D. mBoth mA mand mB m- mCorrect mAnswer m- mD. mBoth mA mand mB
1-11
Which mof mthe mfollowing mis man madvantage mof mowning ma mcorporation?
A. mContinuity mof mexistence. m
B. mLack mof mcentralized mcontrol.
C. msharing mof mideas mand mmanagement mresponsibility.
D. mEasier mto mcreate. m- mCorrect mAnswer m- mA. mContinuity mof mexistence. m
1-11
Unlicensed mpractice mof ma mprofession mis mpunishable mby man madministrative
mpenalty mnot mto mexceed m_______.
A. m$500
B. m$1,000
C. m$5,000 m
D. m$12,500 m- mCorrect mAnswer m- mC. m$5,000 m
455.228(1)
