- Study guides, Class notes & Summaries

NASCLA CONTRACTORS GUIDE VIRGINIA, 8TH ED CHAPTERS 4 MANAGING RISK QUESTIONS AND ANSWERS 2025/2026 Why is managing risk important? - Answer -important to your reputation and bottom line -Lower business and liability insurance premiums -Reduce chances of being sued -Improve chances of prevailing in a lawsuit What should supplement your risk management program? - Answer - Insurance. It provides protection against unforeseen events and is sometimes required by law What does property ins...

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6 pages

Written in 2024/2025

Grade A+

AdelineJean

VIRGINIA EXAM ADVANCED QUESTIONS AND ANSWERS 2025/2026 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. What is the name of...

4.0

(1)

6 pages

Written in 2024/2025

Grade A+

AdelineJean

VA CONTRACTORS: VIRGINIA (CLASS A OR B) EXAM QUESTIONS AND ANSWERS 2025/2026 All Class A contractor licensure applications MUST include... - Answer - Information on the knowledge, skills, and abilities of the applicant Which of the following is a requirement for a joint venture? - Answer - Either the joint venture or each contracting party of the joint venture must be licensed All of the following must be licensed EXCEPT... - Answer -A material supplier who advises a contractor Payment...

4.0

(1)

3 pages

Written in 2024/2025

Grade A+

AdelineJean

CONTRACTORS BUSINESS/LAW EXAM QUESTIONS AND ANSWERS 2025/2026 If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? - Answer -quarterly How many employees does it take for the Fair Labor Act to be applied? - Answer -1 What accounting method records income when the service occurs and expense when they are incurred? - Answer -Accrual Method What do the General Conditions of a contract do? - Answer -Outline roles of the owner, architect, and engineer. You are...

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13 pages

Written in 2024/2025

Grade A+

AdelineJean

Va Contractors Test Paper 2025/2026 Questions With Answers Tagged A+

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5 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors Final Paper 2025/2026 Questions With Answers Tagged A+

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10 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors Exams Set 2025/2026 Questions With Answers Tagged A+

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5 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors Exam Script 2025/2026 Questions With Answers Tagged A+

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10 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors Evaluation Exams 2025/2026 Questions With Answers Tagged A+

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10 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors Core Exam Test 2025/2026 Questions With Answers Tagged A+

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10 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Va Contractors 2025/2026 Questions With Answers Tagged A+

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8 pages

Written in 2024/2025

Grade A+

EXAMCAFE

VA Contractors: General (Class A or B) PLUS Advanced (Class A) | A collection of the common 250 questions and correct answers (Verified) graded a+ A contractor does not notify a change of address and so does not receive a timely Notice of Renewal. Who is responsible for when the contractor does not renew his license on time? - ANS :The Licensee Contractor A Designated Employee should be? - ANS :At least 18, Full Time, Passed Required Exams What is the initial Recovery Fund fee? - ANS...

5.0

(1)

32 pages

Written in 2024/2025

Grade A+

laurenjames

A contractor does not notify a change of address and so does not receive a timely Notice of Renewal. Who is responsible for when the contractor does not renew his license on time? - ANSWER The Licensee Contractor A Designated Employee should be? - ANSWER At least 18, Full Time, Passed Required Exams What is the initial Recovery Fund fee? - ANSWER $25.00

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5 pages

Written in 2024/2025

Grade A+

Olivegrades

VA Contractors: VA Advanced (Class A) Exam Questions with 100% Correct Answers | Graded A+ A lump sum contract on a project has a total contract price of $160,000. Retainage has been held back at 10%. The contractor has received progress payments for 75% of the project. The contractor submits a request for final payment for the new completed project. The final payment amount should be for... - More than $50,000 What is the total value of current assets for an accrual basis company t...

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7 pages

Written in 2024/2025

Grade A+

JOSHCLAY

Working Capital - ANSWER current assets - current liabilities Bid Price - ANSWER (Dir Cost * 100 ) / (100-%) Equity - ANSWER Assets - Liabilities

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9 pages

Written in 2024/2025

Grade A+

Olivegrades