Mississippi Residential
Contractor Exam – Real
Questions & Answers 2025
A ______ bond will ensure the contractor that wins the project will draw up and put into action the
contract at the bid price and submit performance and payment bonds. -answer ✔---Bid
A ______ bond promises that the contract will stay within the bounds of the contract until completion. -
answer ✔---Performance
A bond that ensures the subcontractors and suppliers for a specific project will get paid and will liens
from being enforced on said project. -answer ✔---Labor and Material Payment
________ ________ Insurance will safeguard the contractor just in case there is devastation or loss to a
project before completion. -answer ✔---Builders Risk
, _______ _______ will keep the claim amount from being more than the dollar amount covered by
regular general liability or vehicle insurance. -answer ✔---Umbrella Liability
Name one of the people responsible for creating an estimate for a job. -answer ✔---Project
Manager
Superintendent
The part of a project, when creating an estimate, that is the toughest to plan for is the _______
_______. -answer ✔---Labor Productivity
The percentage of lumber used for framing that is typically wasted is _________. -answer ✔---10%
Name one of the fundamental types of scheduling. -answer ✔---Bar Chart, Network Diagram, Critical
Path Schedule
A _________ will show all of the activities that have to be completed in order for a project to be
completed. -answer ✔---Work Breakdown Structure (WBS)
When working on a project there are certain things that must be done but are not on a deadline to
complete, meaning it has a flexible schedule. What term would describe that flexibility? -answer ✔--
-Float Time
A __________ _________ contract will allow the Owner a choice to reimburse the contractor when
supplies are utilized within the scope of the project instead of when they are on the property. -
answer ✔---Fixed Price
Just In Time delivery has a couple of benefits. Name one of them. -answer ✔---Reduces risk of loss,
Prevents job site congestion
Contractor Exam – Real
Questions & Answers 2025
A ______ bond will ensure the contractor that wins the project will draw up and put into action the
contract at the bid price and submit performance and payment bonds. -answer ✔---Bid
A ______ bond promises that the contract will stay within the bounds of the contract until completion. -
answer ✔---Performance
A bond that ensures the subcontractors and suppliers for a specific project will get paid and will liens
from being enforced on said project. -answer ✔---Labor and Material Payment
________ ________ Insurance will safeguard the contractor just in case there is devastation or loss to a
project before completion. -answer ✔---Builders Risk
, _______ _______ will keep the claim amount from being more than the dollar amount covered by
regular general liability or vehicle insurance. -answer ✔---Umbrella Liability
Name one of the people responsible for creating an estimate for a job. -answer ✔---Project
Manager
Superintendent
The part of a project, when creating an estimate, that is the toughest to plan for is the _______
_______. -answer ✔---Labor Productivity
The percentage of lumber used for framing that is typically wasted is _________. -answer ✔---10%
Name one of the fundamental types of scheduling. -answer ✔---Bar Chart, Network Diagram, Critical
Path Schedule
A _________ will show all of the activities that have to be completed in order for a project to be
completed. -answer ✔---Work Breakdown Structure (WBS)
When working on a project there are certain things that must be done but are not on a deadline to
complete, meaning it has a flexible schedule. What term would describe that flexibility? -answer ✔--
-Float Time
A __________ _________ contract will allow the Owner a choice to reimburse the contractor when
supplies are utilized within the scope of the project instead of when they are on the property. -
answer ✔---Fixed Price
Just In Time delivery has a couple of benefits. Name one of them. -answer ✔---Reduces risk of loss,
Prevents job site congestion
