NEVADA LAW Contractor Construction Management

NEVADA LAW Contractor Construction Management An administrative fine that the board can impose for engaging in business or submitting a bid without a contractors license. - ANSWER $1000-$50000 How many days does the employer have to furnish a W-2 if an employee requests a copy - ANSWER 30 Business Owners who fail to comply with Workers compensation laws may have to pay fines of up to_______ or have their business closed until the insurance has been obtained. - ANSWER $15000 Use tax is typically assessed at - ANSWER the same rate as sales tax If the owner does NOT file a notice of completion the contractor has _____ days after completing the work to file a notice of Lien against the owner's property and begin the lien process. - ANSWER 90 What is the maximum administrative fine for abandonment or failure to complete a construction project? - ANSWER $10000 a single Residential Recovery claim cannot exceed - ANSWER $35000 A delay in work is not a breach of __________ - ANSWER contract The clause in the subcontractors agreement reads that " a subcontractor binds themselves to the contractor for the performance of the subcontractors work in the same manner as the contractor is bound to the owner for such performance under contractor's contract with the owner." is called - ANSWER flow down clause The most accurate method of estimating is... - ANSWER detail survey method or quantity take off method The most difficult thing to estimate when preparing a bid is... - ANSWER labor If a contract is ambiguous, it goes against whom? - ANSWER the person who wrote it Why would the owner withhold 10% from each progress payment? - ANSWER Retainage Which document is signed by the Owner, Architect/Engineer, and the Contractor informing the Contractor to modify the agreement terms and conditions? - ANSWER change order What is 2/10 Net 30 - ANSWER 2% discount can be deducted if paid within 10 days of the invoice date. Full payment due in thirty days. Changes made to the bid documents after they have been distributed, but before bids are received - ANSWER Addenda When should construction site drainage first be addressed? - ANSWER before submitting your bid Which financial statement summarizes income, costs, and expenses over a specific period of time? - ANSWER income statement Which of the following work-related injuries does not require the employer to report to OSHA - ANSWER using wound coverings such as bandages or band-aids