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VA CONTRACTORS: VA ADVANCED (CLASS A)
EXAM 2025 WITH 100% VERIFIED QUESTIONS
AND EXPERT SOLUTIONS| GUARANTEED
VALUE AND SUCCESS.
1. How much state income tax MUST be paid by a corporation that has
$30,000 of Federal taxable income? The company deducted $2,000 of
state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in
Virginia. - correct answer - $1,080
2. How much is an employer who withheld employee Medicare and Social
Security taxes or $765 required to send to the IRS? - correct answer -
$1,530
3. An insurer offers the contractor a 20% per year reduction in premiums if
the contractor has a defied safety program in place. The insurer's
standard rates are $8 per $1,000 of coverage. The contractor has
$300,000 in coverage. How much in premiums will the contractor save a
3-year period by having a defined safety program in place? - correct
answer - Between $1,001 and $1,500
4. Where would depreciation of equipment first be entered? - correct
answer - General journal
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5. What is the gross pay of a non-exempt employee who works 45 hours
during a holiday week, and receives 8 hours additional pay for the
holiday? The employee earns $12.50 per hour. - correct answer -
$693.75
6. A contractor pays a workers' compensation rate of $0.08 per $100 of
office employee payroll, $0.15 per $100 of field supervisor payroll, and
$0.26 per $100 of field employee payroll. Total office employee payroll
for the year is $25,000. Total field supervisor payroll is $48,000. Total
field employee payroll is $225,000. The contractor receives a discount of
5% of total premiums for having a safety program in place. The total
workers' compensation for the year is... - correct answer - More than
$600
7. A permit is obtained on Friday, May 1. The materials are to be delivered
May 8. The materials are needed when labor begins on May 11. It is
estimated that 15 days of labor are REQUIRED. The crew will work
every day, including weekends and holidays. The project is scheduled to
be completed on June 8. How many float days are available for the labor
for this project? - correct answer - 13
8. A contractor puts in a claim under a comprehensive standard general
liability policy. The policy has no additional coverage, riders, or floaters,
and has a $500 deductible per occurrence. The claim is for a job-site
accident that caused $2,000 of injuries to employees, $1,800 of injuries
to a pedestrian, $2,300 damage to the contractor's equipment, and
$1,750 loss of project materials purchased by the contractor. The
insurance company is liable for... - correct answer - $1,300
VA CONTRACTORS: VA ADVANCED (CLASS A)
EXAM 2025 WITH 100% VERIFIED QUESTIONS
AND EXPERT SOLUTIONS| GUARANTEED
VALUE AND SUCCESS.
1. How much state income tax MUST be paid by a corporation that has
$30,000 of Federal taxable income? The company deducted $2,000 of
state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in
Virginia. - correct answer - $1,080
2. How much is an employer who withheld employee Medicare and Social
Security taxes or $765 required to send to the IRS? - correct answer -
$1,530
3. An insurer offers the contractor a 20% per year reduction in premiums if
the contractor has a defied safety program in place. The insurer's
standard rates are $8 per $1,000 of coverage. The contractor has
$300,000 in coverage. How much in premiums will the contractor save a
3-year period by having a defined safety program in place? - correct
answer - Between $1,001 and $1,500
4. Where would depreciation of equipment first be entered? - correct
answer - General journal
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5. What is the gross pay of a non-exempt employee who works 45 hours
during a holiday week, and receives 8 hours additional pay for the
holiday? The employee earns $12.50 per hour. - correct answer -
$693.75
6. A contractor pays a workers' compensation rate of $0.08 per $100 of
office employee payroll, $0.15 per $100 of field supervisor payroll, and
$0.26 per $100 of field employee payroll. Total office employee payroll
for the year is $25,000. Total field supervisor payroll is $48,000. Total
field employee payroll is $225,000. The contractor receives a discount of
5% of total premiums for having a safety program in place. The total
workers' compensation for the year is... - correct answer - More than
$600
7. A permit is obtained on Friday, May 1. The materials are to be delivered
May 8. The materials are needed when labor begins on May 11. It is
estimated that 15 days of labor are REQUIRED. The crew will work
every day, including weekends and holidays. The project is scheduled to
be completed on June 8. How many float days are available for the labor
for this project? - correct answer - 13
8. A contractor puts in a claim under a comprehensive standard general
liability policy. The policy has no additional coverage, riders, or floaters,
and has a $500 deductible per occurrence. The claim is for a job-site
accident that caused $2,000 of injuries to employees, $1,800 of injuries
to a pedestrian, $2,300 damage to the contractor's equipment, and
$1,750 loss of project materials purchased by the contractor. The
insurance company is liable for... - correct answer - $1,300
