VA Contractors: General (Class
A or B) Exam Study Guide –
Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 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 partnership to insure that the business
does NOT go out of business if one partner dies? - Answer✔✔-Key man
, An owner hires a construction manager for a project. Which of the following is
TRUE with regard to subcontractors? - Answer✔✔-The subcontractors are
prime contractors
What protects a contractor from risk? - Answer✔✔-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - Answer✔✔-
Identifies activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - Answer✔✔-Light fixture
costs
Which of the following is considered ethical behavior? - Answer✔✔-Failing to
disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... -
Answer✔✔-1099
The BEST business practice for special-ordered materials is to... - Answer✔✔-
put the order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to
have. This is considered... - Answer✔✔-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years? - Answer✔✔-30 years
A or B) Exam Study Guide –
Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 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 partnership to insure that the business
does NOT go out of business if one partner dies? - Answer✔✔-Key man
, An owner hires a construction manager for a project. Which of the following is
TRUE with regard to subcontractors? - Answer✔✔-The subcontractors are
prime contractors
What protects a contractor from risk? - Answer✔✔-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - Answer✔✔-
Identifies activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - Answer✔✔-Light fixture
costs
Which of the following is considered ethical behavior? - Answer✔✔-Failing to
disclose one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... -
Answer✔✔-1099
The BEST business practice for special-ordered materials is to... - Answer✔✔-
put the order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to
have. This is considered... - Answer✔✔-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years? - Answer✔✔-30 years
