FLORIDA BUILDING CONTRACTOR BUSINESS/FINANCE
STUDY EXAM | ALL QUESTIONS AND CORRECT ANSWERS |
GRADED A+ | LATEST EXAM | VERIFIED ANSWERS | JUST
RELEASED
1. How many employees must an employer have before he must apply for
workers compensation insurance? ---------CORRECT ANSWER----------------
-1 or more
2. The most important aspect to consider when bidding is: ---------
CORRECT ANSWER-----------------Profit
3. What does the acronym GAAP signify in accounting? ---------CORRECT
ANSWER-----------------Generally Accepted Accounted Principles
4. If I fail one or more portions of the examination, do I have to retake all
parts again? ---------CORRECT ANSWER-----------------No, only the exams
on which he or she failed to achieve a passing score
5. In order to obtain a building permit the following is required: ---------
CORRECT ANSWER-----------------Filling out an application
6. When can you allow your employee to view their personal file? ---------
CORRECT ANSWER-----------------Whenever they wish to
, 7. A payment bond would be posted by the: ---------CORRECT ANSWER---
--------------Prime contractor or property owner
8. How long after I pass the examinations do I have to apply for Initial
Licensure? ---------CORRECT ANSWER-----------------Four years
9. Are contractors required to qualify a construction business? ---------
CORRECT ANSWER-----------------Yes
10. A payment bond guarantees that the bonding company will pay valid
claims for unpaid bills owed by the ______ posting the bond. ---------
CORRECT ANSWER-----------------Prime contractor or property owner
11. Before the completion of work the person who authorizes a temporary
certificate of __________ is the building official. ---------CORRECT
ANSWER-----------------Occupancy
12. Majority for the negotiated construction contracts are on a ________
basis. ---------CORRECT ANSWER-----------------Cost plus fee
13. What must a contractor do to prevent cash flow problems at the end of
a construction project? ---------CORRECT ANSWER-----------------Obtain a
line of credit from a bank
14. What should be done with the contractors IRS form W-2? ---------
CORRECT ANSWER-----------------File a copy in the contractor's office
STUDY EXAM | ALL QUESTIONS AND CORRECT ANSWERS |
GRADED A+ | LATEST EXAM | VERIFIED ANSWERS | JUST
RELEASED
1. How many employees must an employer have before he must apply for
workers compensation insurance? ---------CORRECT ANSWER----------------
-1 or more
2. The most important aspect to consider when bidding is: ---------
CORRECT ANSWER-----------------Profit
3. What does the acronym GAAP signify in accounting? ---------CORRECT
ANSWER-----------------Generally Accepted Accounted Principles
4. If I fail one or more portions of the examination, do I have to retake all
parts again? ---------CORRECT ANSWER-----------------No, only the exams
on which he or she failed to achieve a passing score
5. In order to obtain a building permit the following is required: ---------
CORRECT ANSWER-----------------Filling out an application
6. When can you allow your employee to view their personal file? ---------
CORRECT ANSWER-----------------Whenever they wish to
, 7. A payment bond would be posted by the: ---------CORRECT ANSWER---
--------------Prime contractor or property owner
8. How long after I pass the examinations do I have to apply for Initial
Licensure? ---------CORRECT ANSWER-----------------Four years
9. Are contractors required to qualify a construction business? ---------
CORRECT ANSWER-----------------Yes
10. A payment bond guarantees that the bonding company will pay valid
claims for unpaid bills owed by the ______ posting the bond. ---------
CORRECT ANSWER-----------------Prime contractor or property owner
11. Before the completion of work the person who authorizes a temporary
certificate of __________ is the building official. ---------CORRECT
ANSWER-----------------Occupancy
12. Majority for the negotiated construction contracts are on a ________
basis. ---------CORRECT ANSWER-----------------Cost plus fee
13. What must a contractor do to prevent cash flow problems at the end of
a construction project? ---------CORRECT ANSWER-----------------Obtain a
line of credit from a bank
14. What should be done with the contractors IRS form W-2? ---------
CORRECT ANSWER-----------------File a copy in the contractor's office
