VA Advanced Class A Contractor Exam Actual
Exam – Higher Education and Professional
Curriculum – 2026/2027 Academic Year –
Verified Questions and Answers for Advanced
Construction and Contracting Professionals |
with complete solutions.
SECTION 1: LICENSING REQUIREMENTS AND
BOARD REGULATIONS (Questions 1-10)
1. A firm applying for a Class A contractor license in Virginia must
name a designated employee who meets which of the following
requirements under 18VAC50-22-60?
A) Has at least three years of experience in the construction industry
B) Is a full-time employee of the firm or a member of responsible
management and has passed a board-approved examination
C) Has completed a four-year degree in construction management
D) Must be a licensed professional engineer
Answer: B) Is a full-time employee of the firm or a member of
responsible management and has passed a board-approved
examination
Rationale: Under 18VAC50-22-60, the designated employee must be at least
18 years old, a full-time employee or member of responsible management,
,and must have passed a board-approved examination. . The examination
requirement applies to the designated employee, not a degree or
engineering license.
Source: Virginia Administrative Code 18VAC50-22-60
2. What is the minimum net worth requirement for a Virginia Class A
contractor license?
A) $25,000
B) $35,000
C) $45,000
D) $55,000
Answer: C) $45,000
Rationale: The Virginia Administrative Code 18VAC50-22-60 requires a Class
A applicant to verify a net worth or equity of $45,000 by submitting a
completed financial statement, a CPA-reviewed financial statement, or a CPA
audit . Alternatively, the applicant may obtain a $50,000 surety bond on the
board's bond form in lieu of meeting the net worth requirement .
Source: Virginia Administrative Code 18VAC50-22-60; Va. Code § 54.1-1106
3. Which financial statement is required to demonstrate a Class A
contractor's minimum net worth under Virginia Board for
Contractors regulations?
A) Cash flow statement
B) Balance sheet prepared by an independent CPA
C) Profit and loss statement
D) Bank statement with average monthly balance
,Answer: B) Balance sheet prepared by an independent CPA
Rationale: The Virginia Administrative Code 18VAC50-22-120 requires Class
A applicants to submit a CPA-prepared balance sheet showing minimum net
worth of $45,000 . Virginia Code § 54.1-1106 also permits a financial
statement on a form prescribed by the Board, subject to additional
verification, or a balance sheet reviewed by a CPA .
Source: Stuvia Exam Bank; Virginia Code § 54.1-1106
4. What is the maximum bond amount required for a Virginia Class A
contractor's license as an alternative to meeting the net worth
requirement?
A) $10,000
B) $20,000
C) $45,000
D) $50,000
Answer: D) $50,000
Rationale: Under 18VAC50-22-40 and Va. Code § 54.1-1106, Class A
applicants may submit a $50,000 surety bond on the board's form in lieu of
meeting the $45,000 net worth requirement . Class B requires $10,000 and
Class C requires $5,000.
Source: Stuvia Exam Bank; Virginia Code § 54.1-1106
5. A Virginia Class A contractor license expires on what date, and
how often must it be renewed?
, A) Annually on December 31
B) Every two years on the last day of the licensee's birth month
C) Every three years on June 30
D) Every five years on the date of issuance
Answer: B) Every two years on the last day of the licensee's birth
month
Rationale: Virginia contractor licenses expire on the last day of the licensee's
birth month every two years . Renewal requires payment of fees and
updated business information. Virginia does not require continuing education
for renewal .
Source: Stuvia Exam Bank; The Contractor Matrix
6. If a Class A contractor fails to renew the license before the
expiration date, what is the grace period for late renewal without
re-examination?
A) 30 days
B) 60 days
C) 90 days
D) No grace period
Answer: D) No grace period
Rationale: Virginia contractor licenses have no grace period; after expiration,
the contractor must cease work immediately and apply for reinstatement
within one year with late fees, or reapply after one year . Contracts signed
with an expired license are unenforceable.
Source: Stuvia Exam Bank
Exam – Higher Education and Professional
Curriculum – 2026/2027 Academic Year –
Verified Questions and Answers for Advanced
Construction and Contracting Professionals |
with complete solutions.
SECTION 1: LICENSING REQUIREMENTS AND
BOARD REGULATIONS (Questions 1-10)
1. A firm applying for a Class A contractor license in Virginia must
name a designated employee who meets which of the following
requirements under 18VAC50-22-60?
A) Has at least three years of experience in the construction industry
B) Is a full-time employee of the firm or a member of responsible
management and has passed a board-approved examination
C) Has completed a four-year degree in construction management
D) Must be a licensed professional engineer
Answer: B) Is a full-time employee of the firm or a member of
responsible management and has passed a board-approved
examination
Rationale: Under 18VAC50-22-60, the designated employee must be at least
18 years old, a full-time employee or member of responsible management,
,and must have passed a board-approved examination. . The examination
requirement applies to the designated employee, not a degree or
engineering license.
Source: Virginia Administrative Code 18VAC50-22-60
2. What is the minimum net worth requirement for a Virginia Class A
contractor license?
A) $25,000
B) $35,000
C) $45,000
D) $55,000
Answer: C) $45,000
Rationale: The Virginia Administrative Code 18VAC50-22-60 requires a Class
A applicant to verify a net worth or equity of $45,000 by submitting a
completed financial statement, a CPA-reviewed financial statement, or a CPA
audit . Alternatively, the applicant may obtain a $50,000 surety bond on the
board's bond form in lieu of meeting the net worth requirement .
Source: Virginia Administrative Code 18VAC50-22-60; Va. Code § 54.1-1106
3. Which financial statement is required to demonstrate a Class A
contractor's minimum net worth under Virginia Board for
Contractors regulations?
A) Cash flow statement
B) Balance sheet prepared by an independent CPA
C) Profit and loss statement
D) Bank statement with average monthly balance
,Answer: B) Balance sheet prepared by an independent CPA
Rationale: The Virginia Administrative Code 18VAC50-22-120 requires Class
A applicants to submit a CPA-prepared balance sheet showing minimum net
worth of $45,000 . Virginia Code § 54.1-1106 also permits a financial
statement on a form prescribed by the Board, subject to additional
verification, or a balance sheet reviewed by a CPA .
Source: Stuvia Exam Bank; Virginia Code § 54.1-1106
4. What is the maximum bond amount required for a Virginia Class A
contractor's license as an alternative to meeting the net worth
requirement?
A) $10,000
B) $20,000
C) $45,000
D) $50,000
Answer: D) $50,000
Rationale: Under 18VAC50-22-40 and Va. Code § 54.1-1106, Class A
applicants may submit a $50,000 surety bond on the board's form in lieu of
meeting the $45,000 net worth requirement . Class B requires $10,000 and
Class C requires $5,000.
Source: Stuvia Exam Bank; Virginia Code § 54.1-1106
5. A Virginia Class A contractor license expires on what date, and
how often must it be renewed?
, A) Annually on December 31
B) Every two years on the last day of the licensee's birth month
C) Every three years on June 30
D) Every five years on the date of issuance
Answer: B) Every two years on the last day of the licensee's birth
month
Rationale: Virginia contractor licenses expire on the last day of the licensee's
birth month every two years . Renewal requires payment of fees and
updated business information. Virginia does not require continuing education
for renewal .
Source: Stuvia Exam Bank; The Contractor Matrix
6. If a Class A contractor fails to renew the license before the
expiration date, what is the grace period for late renewal without
re-examination?
A) 30 days
B) 60 days
C) 90 days
D) No grace period
Answer: D) No grace period
Rationale: Virginia contractor licenses have no grace period; after expiration,
the contractor must cease work immediately and apply for reinstatement
within one year with late fees, or reapply after one year . Contracts signed
with an expired license are unenforceable.
Source: Stuvia Exam Bank
