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A Home Improvement Contractor is a person who offers to 1. perform repairs for a homeowner 2. construct a new home for a homeowner 3. sell supplies or equipment to a "do-it-yourself" homeowner 4. alter plumbing lines to accommodate new appliances - ANSWER 1. perform repairs for a homeowner What is the MAXIMUM deposit permitted for a project with a total contract price of $1,500? 1. $150 2. $500 3. $750 4. $1,500 - ANSWER 2. $500

A viatical transaction is used for which of the following - ANSWER A chronically ill insured who needs to sell his life insurance policy to a third-party to settle medical and other bills prior to death An agent complete an application for insurance on the Addams family Mr. Adams writes a check for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr. Adams should understand which of the following - ANSWER He has made an offer to the insurance company and no insu...

What is "home improvement" (H.I.)? (C R R R R A A I) - ANSWER the construction, repair, remodeling, alteration, rehabilitation, renovation, improvement, or addition to any land or building used as a residence or dwelling place. What parts of a home can a H.I. include? - ANSWER Any part of the home OR land (including basements, driveways, fences, garages, landscaping, patios, porches, sidewalks, swimming pools, and terraces.)

Nailing into hard wood, whats best to use ? - ANSWER Cut na To avoid hardening due to hydration ....use masonry mo before? - ANSWER 2 1/2 Hours

Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within a MINIMUM of how many days from when the assessment fee notice was mailed? - ANSWER 45 days An appeal of a final decision of a county on an erosion control plan MUST be filed with a MAXIMUM of how many days? - ANSWER 30 days

What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - ANSWER $500 fine per day for each day of violation plus penalties for a misdemeanor. What is the PRIMARY purpose of licensing? - ANSWER Protect the health and welfare of the public. The application for licensure MUST include - ANSWER the business address of the proposed designated employee.

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... - ANSWER More than $50,000 What is the total value of current assets for an accrual basis company that has the following? Checking account cash balance is $4,800; materials inventory for work-i...

What is the minimum distance from exposed ground for a wood framing member that is in contact with?? - ANSWER 24 inches What is the maximum allowed slope for the top surface of a footing? - ANSWER None Where should a drip edge be used? - ANSWER Beneath the underlayment What is the minimum height for guard rails for balcony? - ANSWER 36 inches What test is performed to determine the drainage capacity of a soil? - ANSWER Perculation test- Perc Test

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

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