NASCLA Contractor's Guide to Business, Law, and Project Management – Exam Preparation Material with Answers

NASCLA CONTRACTOR'S GUIDE TO BUSINESS, LAW,
AND PROJECT MANAGEMENT EXAM WITH ANSWERS.




1. Which of the following bonds guarantees that the contractor has paid
the subcontractor?


A. Bid bond


B. Performance bond


C. Payment bond


D. James bond -correct answer -Payment Bond



2. The method recognizes income when the
employer has done the work, yet has not received the income.


A. Accrual


B. Appreciation


C. Deprecation

,D. Cash -correct answer -Cash



3. A bundles all cost factors for entire
task.


A. Lump sum


B. Cost plus


C. Percent completion method


D. Unit price method -correct answer -Unit Price Method



4. requires paying prevailing wages in
federally-financed projects.


A. Service Contract Act


B. Walsh-Healey Act


C. Wage Garnishment Law


D. Davis-Bacon Act -correct answer -Service Contract Act

, 5. absolves the indemnified party from any
payment for losses and damages


incurred by a third party.


A. Indemnification


B. Delays and extensions of time


C. Schedule acceleration


D. Force majeure -correct answer -Schedule acceleration



6. The EAP should include .


A. Student's name


B. Employer's name


C. Administrator's name


D. Next of kin -correct answer -Employer's Name



7. The MSDS provides for two main purposes: one purpose is product