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VA CONTRACTORS: GENERAL (CLASS A OR B) EXAM QUESTIONS AND VERIFIED ANSWERS Which of the following estimating methods is typically used by the architect rather than the contractor? - correct answer- Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - correct answer- cost plus contract Equipment needs for a project are BEST estimated

VA Contractors: General (Class A or B) Exam Practice Exam With Complete Questions And Correct Answers With Rationales Guaranteed Pass|| Latest Update material or equipment supplier - ANSWER-shop drawings that clarify the architect's drawings and specifications are often provided by job cost system - ANSWER-costs are accumulated by individual jobs when material is issued and labor costs incurred (estimated vs actual cost). Builder Risk Insurance - ANSWER-protect the contractor...

VA CONTRACTORS: GENERAL (CLASS A OR B) EXAM QUESTIONS AND VERIFIED ANSWERS Which of the following estimating methods is typically used by the architect rather than the contractor? - correct answer- Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - correct answer- cost plus contract Equipment needs for a project are BEST estimated ...

VA CONTRACTORS: VA ADVANCED (CLASS A) ACTUAL EXAM QUESTIONS WITH VERIFIED ANSWER LATEST UPDATE

Which of the following estimating methods is typically used by the architect rather than the contractor? - Answer Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - Answer cost plus contract Equipment needs for a project are BEST estimated by... - Answer Calculating the number of hours or days it is needed What type of insurance is needed for a partners...

In the previous year, a company had revenues of $500,000, project overhead of $40,000 and company overhead of $75,000. The company expects the percentage for project and company overhead to remain the same for the current year. The company desires to make a 10% profit on a project it is bidding. The project would have $80,000 in direct costs. What should the bid price be? - Answer Between $110,000 and $120,000 Which of the following is considered ethical behavior? - Answer Failing to disclose...

The VA Contractors Advanced (Class A) Exam 2025–2026 features recently revised and verified questions with 100% correct answers. Graded A+, it covers Virginia contractor laws, financial management, safety codes, and construction practices — everything you need to pass the Class A license exam confidently.