Florida Business and Finance
practice Exam #1 2026 Exam
Questions and Answers |
Already Graded A+
"Hard Records", such as payroll, employment contracts, sales and
purchase records must be retained for ____ years. - ANSWER ✔✔3
"Soft Records", such as time cards and time sheets must be retained for
____years. - ANSWER ✔✔2
FS 489 requires complete financial and business records to be retained
for _____ years. - ANSWER ✔✔3
,OSHA logs 300/300A must be retained for ____ colander years. -
ANSWER ✔✔5
Per IRS, records of employment taxes must be retained for _____ years.
Bc - ANSWER ✔✔4
The Department, for boards under its jurisdiction, shall have the
authority to close and terminate deficient license application files ____
year(s) after the board or board or the department notifies the applicant
of the deficiency. - ANSWER ✔✔2
I-9 forms must be retained _____. - ANSWER ✔✔(Either A or B)
whichever is the latest date
Tests, inspections, and approvals of work shall be paid for by the ______
; if tests are failed, additional costs shall be borne by _____. -
ANSWER ✔✔Owner; Contractor
The max hours of work allowed per week for a 16-year old while school
is in session is _____ hours. - ANSWER ✔✔30
A job has a cost to date of $34,000. The cost to complete is estimated to
be $91,000. If the contractor wanted to make a 12% profit, the contract
price would be _____. - ANSWER ✔✔$140,000
The ______ regulates the FLSA. - ANSWER ✔✔Department of Labor
, Atleast _____ days before the end of a licensure cycle, the dept shall
forward notice of pending cancellation of licensure to a delinquent status
licensee at the licensees last known address of record or email provided
to the department. - ANSWER ✔✔90
______ would probably not be subject to the overtime regulations. -
ANSWER ✔✔Employees who are employed in the capacity of
outside salesman
The Buy American Act does not include _______ . - ANSWER
✔✔Brazil
Per FLSA, an executive employee ______ . - ANSWER ✔✔All the
above
An individual who smokes in a non-smoking area is subject to a fine of
_____ for a repeat offense. - ANSWER ✔✔500
A ______ would be most likely to receive a Limited License. -
ANSWER ✔✔Retired professional
_____ is responsible to post OSHA posters on a multi-contractor project.
- ANSWER ✔✔Each contractor
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
practice Exam #1 2026 Exam
Questions and Answers |
Already Graded A+
"Hard Records", such as payroll, employment contracts, sales and
purchase records must be retained for ____ years. - ANSWER ✔✔3
"Soft Records", such as time cards and time sheets must be retained for
____years. - ANSWER ✔✔2
FS 489 requires complete financial and business records to be retained
for _____ years. - ANSWER ✔✔3
,OSHA logs 300/300A must be retained for ____ colander years. -
ANSWER ✔✔5
Per IRS, records of employment taxes must be retained for _____ years.
Bc - ANSWER ✔✔4
The Department, for boards under its jurisdiction, shall have the
authority to close and terminate deficient license application files ____
year(s) after the board or board or the department notifies the applicant
of the deficiency. - ANSWER ✔✔2
I-9 forms must be retained _____. - ANSWER ✔✔(Either A or B)
whichever is the latest date
Tests, inspections, and approvals of work shall be paid for by the ______
; if tests are failed, additional costs shall be borne by _____. -
ANSWER ✔✔Owner; Contractor
The max hours of work allowed per week for a 16-year old while school
is in session is _____ hours. - ANSWER ✔✔30
A job has a cost to date of $34,000. The cost to complete is estimated to
be $91,000. If the contractor wanted to make a 12% profit, the contract
price would be _____. - ANSWER ✔✔$140,000
The ______ regulates the FLSA. - ANSWER ✔✔Department of Labor
, Atleast _____ days before the end of a licensure cycle, the dept shall
forward notice of pending cancellation of licensure to a delinquent status
licensee at the licensees last known address of record or email provided
to the department. - ANSWER ✔✔90
______ would probably not be subject to the overtime regulations. -
ANSWER ✔✔Employees who are employed in the capacity of
outside salesman
The Buy American Act does not include _______ . - ANSWER
✔✔Brazil
Per FLSA, an executive employee ______ . - ANSWER ✔✔All the
above
An individual who smokes in a non-smoking area is subject to a fine of
_____ for a repeat offense. - ANSWER ✔✔500
A ______ would be most likely to receive a Limited License. -
ANSWER ✔✔Retired professional
_____ is responsible to post OSHA posters on a multi-contractor project.
- ANSWER ✔✔Each contractor
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
