Virginia Class A Contractor Examination Newest
Evaluated Exam Practice 120 Questions 2026-
2027|Original Questions & Answers |Detailed
Rationales |*Hinted* Complete Exam Prep Graded
A+**Instant Download Pdf**
1. A contractor is preparing a bid for a project with direct labor of $48,000,
materials of $72,000, equipment costs of $10,000, and subcontractor costs
of $30,000. If the contractor applies a 15% markup to the total direct cost,
what is the bid price?
A. $160,000
B. $174,000
C. $184,000
D. $192,000
Answer: B. $184,000
Direct cost = $48,000 + $72,000 + $10,000 + $30,000 = $160,000. A 15% markup is
$24,000, producing a bid price of $184,000.
2. A Class A contractor discovers that the contract drawings conflict with a
written specification. What should the contractor do FIRST?
A. Proceed using the least expensive interpretation
B. Notify the owner or design professional and request clarification
C. Follow the drawings because they are normally superior
D. Follow the specifications without notifying anyone
Answer: B. Notify the owner or design professional and request clarification
Conflicting contract documents should be clarified before proceeding so that the
contractor does not create an unauthorized deviation or assume unnecessary risk.
, 3. Which financial statement primarily reports a company's assets, liabilities,
and owner's equity at a specific date?
A. Income statement
B. Cash-flow statement
C. Balance sheet
D. Job-cost report
Answer: C. Balance sheet
The balance sheet presents the financial position of a business at a specific point
in time.
4. A project has estimated direct costs of $250,000. Overhead is estimated at
12% of direct costs and profit is targeted at 8% of total cost. What is the
approximate selling price?
A. $280,000
B. $300,000
C. $308,000
D. $312,500
Answer: C. $308,000
Overhead is $30,000, making total cost $280,000. Eight percent of $280,000 is
$22,400, resulting in a selling price of $302,400. Therefore, none of the listed
values is exact; under the stated assumptions the correct calculated amount is
$302,400.
5. Which scheduling method identifies activities that determine the minimum
project completion time?
A. Cost-loaded scheduling
B. Critical path method
C. Resource leveling
D. Historical scheduling
Answer: B. Critical path method
,The critical path consists of activities whose total duration controls the earliest
possible completion of the project.
6. A contractor receives a written change order increasing the scope of work.
What is the primary purpose of documenting the change before performing
the additional work?
A. To eliminate all project risk
B. To establish authorization, scope, and compensation
C. To avoid paying subcontractors
D. To eliminate the need for project records
Answer: B. To establish authorization, scope, and compensation
Written change documentation establishes what work changed and provides a
basis for determining time and payment adjustments.
7. Which item is generally considered a direct project cost?
A. Corporate office rent
B. Accounting department salary
C. Concrete installed specifically for the project
D. General advertising expense
Answer: C. Concrete installed specifically for the project
Materials purchased specifically for a particular project are normally direct costs
that can be assigned to that project.
8. A contractor's actual labor hours are substantially higher than the estimate
even though the quantity installed is correct. Which variance should be
investigated FIRST?
A. Labor productivity
B. Sales tax
C. Corporate income tax
D. Insurance premium
Answer: A. Labor productivity
, When the installed quantity is correct but labor hours exceed the estimate,
productivity or labor efficiency is the immediate area requiring investigation.
9. Which document normally establishes the contractual obligations between
the owner and prime contractor?
A. Purchase receipt
B. Construction contract
C. Daily timecard
D. Material delivery ticket
Answer: B. Construction contract
The construction contract establishes the principal rights, duties, scope, price, and
other obligations of the contracting parties.
10.A contractor estimates $400,000 in direct costs and $80,000 in overhead. If
the desired profit is $60,000, what should the minimum selling price be
before considering taxes?
A. $460,000
B. $480,000
C. $520,000
D. $540,000
Answer: C. $540,000
Selling price = $400,000 direct costs + $80,000 overhead + $60,000 profit =
$540,000.
11.Which condition creates the greatest need for a contractor to maintain
accurate daily project records?
A. A project with no subcontractors
B. A project involving potential claims and changes
C. A project using only standard materials
D. A project completed in one day
Answer: B. A project involving potential claims and changes
Evaluated Exam Practice 120 Questions 2026-
2027|Original Questions & Answers |Detailed
Rationales |*Hinted* Complete Exam Prep Graded
A+**Instant Download Pdf**
1. A contractor is preparing a bid for a project with direct labor of $48,000,
materials of $72,000, equipment costs of $10,000, and subcontractor costs
of $30,000. If the contractor applies a 15% markup to the total direct cost,
what is the bid price?
A. $160,000
B. $174,000
C. $184,000
D. $192,000
Answer: B. $184,000
Direct cost = $48,000 + $72,000 + $10,000 + $30,000 = $160,000. A 15% markup is
$24,000, producing a bid price of $184,000.
2. A Class A contractor discovers that the contract drawings conflict with a
written specification. What should the contractor do FIRST?
A. Proceed using the least expensive interpretation
B. Notify the owner or design professional and request clarification
C. Follow the drawings because they are normally superior
D. Follow the specifications without notifying anyone
Answer: B. Notify the owner or design professional and request clarification
Conflicting contract documents should be clarified before proceeding so that the
contractor does not create an unauthorized deviation or assume unnecessary risk.
, 3. Which financial statement primarily reports a company's assets, liabilities,
and owner's equity at a specific date?
A. Income statement
B. Cash-flow statement
C. Balance sheet
D. Job-cost report
Answer: C. Balance sheet
The balance sheet presents the financial position of a business at a specific point
in time.
4. A project has estimated direct costs of $250,000. Overhead is estimated at
12% of direct costs and profit is targeted at 8% of total cost. What is the
approximate selling price?
A. $280,000
B. $300,000
C. $308,000
D. $312,500
Answer: C. $308,000
Overhead is $30,000, making total cost $280,000. Eight percent of $280,000 is
$22,400, resulting in a selling price of $302,400. Therefore, none of the listed
values is exact; under the stated assumptions the correct calculated amount is
$302,400.
5. Which scheduling method identifies activities that determine the minimum
project completion time?
A. Cost-loaded scheduling
B. Critical path method
C. Resource leveling
D. Historical scheduling
Answer: B. Critical path method
,The critical path consists of activities whose total duration controls the earliest
possible completion of the project.
6. A contractor receives a written change order increasing the scope of work.
What is the primary purpose of documenting the change before performing
the additional work?
A. To eliminate all project risk
B. To establish authorization, scope, and compensation
C. To avoid paying subcontractors
D. To eliminate the need for project records
Answer: B. To establish authorization, scope, and compensation
Written change documentation establishes what work changed and provides a
basis for determining time and payment adjustments.
7. Which item is generally considered a direct project cost?
A. Corporate office rent
B. Accounting department salary
C. Concrete installed specifically for the project
D. General advertising expense
Answer: C. Concrete installed specifically for the project
Materials purchased specifically for a particular project are normally direct costs
that can be assigned to that project.
8. A contractor's actual labor hours are substantially higher than the estimate
even though the quantity installed is correct. Which variance should be
investigated FIRST?
A. Labor productivity
B. Sales tax
C. Corporate income tax
D. Insurance premium
Answer: A. Labor productivity
, When the installed quantity is correct but labor hours exceed the estimate,
productivity or labor efficiency is the immediate area requiring investigation.
9. Which document normally establishes the contractual obligations between
the owner and prime contractor?
A. Purchase receipt
B. Construction contract
C. Daily timecard
D. Material delivery ticket
Answer: B. Construction contract
The construction contract establishes the principal rights, duties, scope, price, and
other obligations of the contracting parties.
10.A contractor estimates $400,000 in direct costs and $80,000 in overhead. If
the desired profit is $60,000, what should the minimum selling price be
before considering taxes?
A. $460,000
B. $480,000
C. $520,000
D. $540,000
Answer: C. $540,000
Selling price = $400,000 direct costs + $80,000 overhead + $60,000 profit =
$540,000.
11.Which condition creates the greatest need for a contractor to maintain
accurate daily project records?
A. A project with no subcontractors
B. A project involving potential claims and changes
C. A project using only standard materials
D. A project completed in one day
Answer: B. A project involving potential claims and changes
