FLORIDA ELECTRICAL BUSINESS EXAM 7 FINAL
STUDY PAPER 2026 COMPLETE QUESTIONS
AND ANSWERS
◉ What is a method of improving cash flow? Answer: Take a vantage
of all discounts
◉ A subcontractor has a standard form of agreement between
Contractor and subcontractor with the prime contractor on a
project. The only way the subcontractor can assign work on the
subcontract is with written ______ Answer: Consent of the contractor
◉ Who is eligible for small business association loans? Answer:
Applicants who cannot attain a loan from local banks
◉ When can a notice of commencement be extended past one year?
Answer: If it is written in the notice of commencement
◉ The bidder making a bid, represents that he or she ______ Answer:
As familiar with local conditions under which the work is to be
performed
,◉ A contractor receive payment from the owner of a construction
project. The contractor shall pay the subcontractor each progress
payment within ______ Answer: 7 working days
◉ Which is not a delay factor when determining production
efficiency percentages? Answer: Financial incentives
◉ When a piece of equipment is sold, why is it necessary to book the
transactions separate from regular sales? Answer: It receives
different tax treatment
◉ According to fair labor standards act, which will eliminate the
contractors liability for paying overtime pay? Answer: An outside
sales person who works on straight commission and qualifies as
exempt status
◉ Which is an advantage of leasing? Answer: Reduced front-end
cash outlays
◉ A change of a business address must be mailed to the department
of business and professional regulation within how many days have
a change? Answer: 60
◉ All chains being used as a sling should be inspected once a _____ by
a competent Inspector. Answer: Month
, ◉ Which of the following is not a prohibited agreement under the
Florida right to work law? Answer: Federal enclaves agreements
◉ Which of the following is an example of an accrual entry? Answer:
Entries to record purchase of material, stored at a job site
◉ To establish an hourly cost for a piece of equipment, the
contractor needs to consider all of the following, except _____
Answer: Estimated average hours of use
◉ Failure of a certificate holder, or register it to apply for renewal of
an active certificate at the time of biennial renewal, shall cause the
certificate to become _____ Answer: Delinquent
◉ Which of the following best describes the accrual method of
accounting? Answer: revenues are recognized when earned, even
though no cash has been received
◉ Which of the following is not a depreciation method? Answer:
Accumulated cost depreciation
◉ Claims arising from damages that resulted from the contractors
work that already has been finished, would be covered by a ______
Answer: completed operations liability policy
STUDY PAPER 2026 COMPLETE QUESTIONS
AND ANSWERS
◉ What is a method of improving cash flow? Answer: Take a vantage
of all discounts
◉ A subcontractor has a standard form of agreement between
Contractor and subcontractor with the prime contractor on a
project. The only way the subcontractor can assign work on the
subcontract is with written ______ Answer: Consent of the contractor
◉ Who is eligible for small business association loans? Answer:
Applicants who cannot attain a loan from local banks
◉ When can a notice of commencement be extended past one year?
Answer: If it is written in the notice of commencement
◉ The bidder making a bid, represents that he or she ______ Answer:
As familiar with local conditions under which the work is to be
performed
,◉ A contractor receive payment from the owner of a construction
project. The contractor shall pay the subcontractor each progress
payment within ______ Answer: 7 working days
◉ Which is not a delay factor when determining production
efficiency percentages? Answer: Financial incentives
◉ When a piece of equipment is sold, why is it necessary to book the
transactions separate from regular sales? Answer: It receives
different tax treatment
◉ According to fair labor standards act, which will eliminate the
contractors liability for paying overtime pay? Answer: An outside
sales person who works on straight commission and qualifies as
exempt status
◉ Which is an advantage of leasing? Answer: Reduced front-end
cash outlays
◉ A change of a business address must be mailed to the department
of business and professional regulation within how many days have
a change? Answer: 60
◉ All chains being used as a sling should be inspected once a _____ by
a competent Inspector. Answer: Month
, ◉ Which of the following is not a prohibited agreement under the
Florida right to work law? Answer: Federal enclaves agreements
◉ Which of the following is an example of an accrual entry? Answer:
Entries to record purchase of material, stored at a job site
◉ To establish an hourly cost for a piece of equipment, the
contractor needs to consider all of the following, except _____
Answer: Estimated average hours of use
◉ Failure of a certificate holder, or register it to apply for renewal of
an active certificate at the time of biennial renewal, shall cause the
certificate to become _____ Answer: Delinquent
◉ Which of the following best describes the accrual method of
accounting? Answer: revenues are recognized when earned, even
though no cash has been received
◉ Which of the following is not a depreciation method? Answer:
Accumulated cost depreciation
◉ Claims arising from damages that resulted from the contractors
work that already has been finished, would be covered by a ______
Answer: completed operations liability policy
