Nevada CMS (law) Exam Questions
and Correct Answers Latest
Version Top Rated
Question>> 1
The simplest form o business organization is:
a. sole prop.
b. partnership
c. corporation
d. LLC
Answer>>
sole prop.
Question>> 2
Does your NSCB license permit you to do work on the repairing or
constructing of mobile homes?
a. Yes, if work is under $1,000
b. No. You need a Manufactured Housing license
c. Yes, if you are a NV General
d. Yes, if work is under $500
Answer>>
No. You need a Manufactured Housing license
Question>> 3
Page 1 of 25
,A general building contractor is bidding a drywall job, is this
legal?
a. Yes, since the drywall is on the generals test
b. He is not allowed to do the drywall
c. Yes, he can bid on anything on a building
d. As long as drywall is included in more than 2 unrelated
trades or crafts
Answer>>
As long as drywall is included in more than 2 unrelated trades or
crafts
Question>> 4
Which of the following statements correctly describes the cash
method of accounting?
Answer>>
Income / expenses are recorded at the time they are received /
paid
Question>> 5
Current assets can be converted into cash within one operating
cycle or
a. 7 days
b. 30 days
c. 6 months
d. 1 year
Answer>>
1 year
Question>> 6
Page 2 of 25
, An application has chances to take the state exam, after the last
attempt the application becomes void.
a. 2
b. 3
c. 4
d. 5
Answer>>
3
Question>> 7
What term identifies money withheld from progress payments to
the contractor and paid after the completion of the project?
Answer>>
Retainage
Question>> 8
What trade can a general building contractor not perform without
additional specialty licensing?
a. Electrical
b. Plumbing
c. Fire Sprinklers
d. All of the above
Answer>>
All of the above
Question>> 9
You have days to replace a qualified employee.
a. 10
b. 30
Page 3 of 25
and Correct Answers Latest
Version Top Rated
Question>> 1
The simplest form o business organization is:
a. sole prop.
b. partnership
c. corporation
d. LLC
Answer>>
sole prop.
Question>> 2
Does your NSCB license permit you to do work on the repairing or
constructing of mobile homes?
a. Yes, if work is under $1,000
b. No. You need a Manufactured Housing license
c. Yes, if you are a NV General
d. Yes, if work is under $500
Answer>>
No. You need a Manufactured Housing license
Question>> 3
Page 1 of 25
,A general building contractor is bidding a drywall job, is this
legal?
a. Yes, since the drywall is on the generals test
b. He is not allowed to do the drywall
c. Yes, he can bid on anything on a building
d. As long as drywall is included in more than 2 unrelated
trades or crafts
Answer>>
As long as drywall is included in more than 2 unrelated trades or
crafts
Question>> 4
Which of the following statements correctly describes the cash
method of accounting?
Answer>>
Income / expenses are recorded at the time they are received /
paid
Question>> 5
Current assets can be converted into cash within one operating
cycle or
a. 7 days
b. 30 days
c. 6 months
d. 1 year
Answer>>
1 year
Question>> 6
Page 2 of 25
, An application has chances to take the state exam, after the last
attempt the application becomes void.
a. 2
b. 3
c. 4
d. 5
Answer>>
3
Question>> 7
What term identifies money withheld from progress payments to
the contractor and paid after the completion of the project?
Answer>>
Retainage
Question>> 8
What trade can a general building contractor not perform without
additional specialty licensing?
a. Electrical
b. Plumbing
c. Fire Sprinklers
d. All of the above
Answer>>
All of the above
Question>> 9
You have days to replace a qualified employee.
a. 10
b. 30
Page 3 of 25
