CONTRACTORS EXAM (BUSINESS AND
LAW) EXAM 2025/2026 QUESTIONS AND
ANSWERS 100% PASS
If a contractor will be doing business as DBA a different name than the contractors legal name
the contractor must attach to the license application a certificate of assumed name filed and
stamped by who - ANS Minnesota secretary of state
You must notify the commissioner of any change in personal name tradename address or
business location not later than how many days after the change - ANS 15 days
Contract - ANS Is a legally enforceable agreement to do or not to do a specific thing the
traditional process is a direct relationship between the owner and the contractor who manages
the project through subcontractors
Our oral contracts valid in the construction industry - ANS Written contracts are required by
law
Bidding documents - ANS Include invitation to bid instructions to bidders letter of intent and
bid forms
Basic owner contractor agreement - ANS Includes identity of the parties description of the
work time for performance contract price and payment schedule and lien notice
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, What does the 10 year warranty cover - ANS It's a 10 year structural warranty that also
includes mold water leakage
Insurance shall have limits of at least how much per occurrence - ANS 100,000
Insurance shall have at least blank aggregate limit for bodily injury - ANS 300,000
Property damage insurance shall include limits of at least how much - ANS 25,000
Property damage insurance shall include a policy with a single limit for bodily injury and
property damage of blank Per occurrence and blank aggregate limits - ANS 300,000 per
occurrence and 300,000 aggregate limits
If policies canceled the insurer shall send written notice to who at the same time that the
cancellation request is received from the insured - ANS The commissioner
Contractor recovery fund recovery maximums how much per claimant how much per licensee -
ANS 75,000 per claimant and 150,000 per licensee
In regards to the contractor recovery fund how long does the commissioner have to reply to a
customer's complaint against the contractor - ANS 120 days
In regards to the contractor recovery fund how many days does the contractor have to request a
hearing after being notified of the complaint against the license holder - ANS 30 days
In regards to the contractor recovery fund how many days must the hearing be held from when
the contractor made his request - ANS 45 days
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
LAW) EXAM 2025/2026 QUESTIONS AND
ANSWERS 100% PASS
If a contractor will be doing business as DBA a different name than the contractors legal name
the contractor must attach to the license application a certificate of assumed name filed and
stamped by who - ANS Minnesota secretary of state
You must notify the commissioner of any change in personal name tradename address or
business location not later than how many days after the change - ANS 15 days
Contract - ANS Is a legally enforceable agreement to do or not to do a specific thing the
traditional process is a direct relationship between the owner and the contractor who manages
the project through subcontractors
Our oral contracts valid in the construction industry - ANS Written contracts are required by
law
Bidding documents - ANS Include invitation to bid instructions to bidders letter of intent and
bid forms
Basic owner contractor agreement - ANS Includes identity of the parties description of the
work time for performance contract price and payment schedule and lien notice
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, What does the 10 year warranty cover - ANS It's a 10 year structural warranty that also
includes mold water leakage
Insurance shall have limits of at least how much per occurrence - ANS 100,000
Insurance shall have at least blank aggregate limit for bodily injury - ANS 300,000
Property damage insurance shall include limits of at least how much - ANS 25,000
Property damage insurance shall include a policy with a single limit for bodily injury and
property damage of blank Per occurrence and blank aggregate limits - ANS 300,000 per
occurrence and 300,000 aggregate limits
If policies canceled the insurer shall send written notice to who at the same time that the
cancellation request is received from the insured - ANS The commissioner
Contractor recovery fund recovery maximums how much per claimant how much per licensee -
ANS 75,000 per claimant and 150,000 per licensee
In regards to the contractor recovery fund how long does the commissioner have to reply to a
customer's complaint against the contractor - ANS 120 days
In regards to the contractor recovery fund how many days does the contractor have to request a
hearing after being notified of the complaint against the license holder - ANS 30 days
In regards to the contractor recovery fund how many days must the hearing be held from when
the contractor made his request - ANS 45 days
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
