MHIC NASCLA Contractors Guide – Complete With
Solutions
How long does a claimant have to bring a claim against the guaranty fund?
Right Ans - 3 years from discovery of the loss or damage
How many days does a contractor have to respond in writing to the copy of
claim that was sent by the commission? Right Ans - 10 days
If within ________ after the commission gives notice , a contractor on whose
amount a claim was paid does not reimburse the fund in full, the commission
may sue the contractor for reimbursement. Right Ans - 60 days
In addtion to full reimbursement of the fund, a contractor is responsible to
pay at least _________interest on the amount to reimburse. Right Ans - 10 %
The state can record a lien against any real property owners by the contractor
for a debt owed to the fund Right Ans - True
If the commission pays a claim from the fund base on the actions or omissions
of a contractor, the commission may suspend the contractors license until full
reimbursement of the fund plus at least 10%interest Right Ans - True
A home improvement contract in compliance with the home improvement
laws would include all of the following except Right Ans - Names and
license numbers of subcontractors
A salesperson may not represent 2 contractors at the same time for the same
project. Right Ans - True
Can a sales person legally accept money for themselves from the customer
Right Ans - No
It is against the law for building and permits departments to issue a permit to
contractor without the contractors license number. Right Ans - True
Solutions
How long does a claimant have to bring a claim against the guaranty fund?
Right Ans - 3 years from discovery of the loss or damage
How many days does a contractor have to respond in writing to the copy of
claim that was sent by the commission? Right Ans - 10 days
If within ________ after the commission gives notice , a contractor on whose
amount a claim was paid does not reimburse the fund in full, the commission
may sue the contractor for reimbursement. Right Ans - 60 days
In addtion to full reimbursement of the fund, a contractor is responsible to
pay at least _________interest on the amount to reimburse. Right Ans - 10 %
The state can record a lien against any real property owners by the contractor
for a debt owed to the fund Right Ans - True
If the commission pays a claim from the fund base on the actions or omissions
of a contractor, the commission may suspend the contractors license until full
reimbursement of the fund plus at least 10%interest Right Ans - True
A home improvement contract in compliance with the home improvement
laws would include all of the following except Right Ans - Names and
license numbers of subcontractors
A salesperson may not represent 2 contractors at the same time for the same
project. Right Ans - True
Can a sales person legally accept money for themselves from the customer
Right Ans - No
It is against the law for building and permits departments to issue a permit to
contractor without the contractors license number. Right Ans - True
