VA Contractors License Review Questions
with Right Answers
When may a license be transferred? - ✅✅ Never
What code is followed for new additions to a building? - ✅✅ Current code
What is calculated in project overhead? - ✅✅ Supervisor salaries
Lead Exposure - ✅✅ 1978
Miller Act - ✅✅ 1 Year
Working Capital - ✅✅ current assets - current liabilities
Bid Price - ✅✅ (Dir Cost * 100) / (100-%)
Equity - ✅✅ Assets - Liabilities
A contractor does not notify a change of address and so does not receive a timely
Notice of Renewal. Who is responsible for when the contractor does not renew his
license on time? - ✅✅ The licensee contractor
, A Designated Employee should be? - ✅✅ At least 18, full time, passed required
exams
What is the initial Recovery Fund fee? - ✅✅ $25.00
If a contractor earns more than $_______ per year, then the contractor is required
to have a Class A. - ✅✅ $750,000.00
If a contract awards more than $_________ per payment, the contractor is required
to have a Class A. - ✅✅ $120,000.00
An Erosion control conservation plan needs to be approved within ____ days. -
✅✅ 45
Where do you go to file an appeal of a violation to the USBC provisions? - ✅✅
To The BBCA
A contractor is required to submit a renewal within____ days of the expiration
date? - ✅✅ 30
Who can file a complaint against a contractor? - ✅✅ any one
What is required when changing the form of entity from a sole proprietorship to a
corporation - ✅✅ A new license
What is the maximum fund allowed for a single contractor? - ✅✅ $40,000.00
with Right Answers
When may a license be transferred? - ✅✅ Never
What code is followed for new additions to a building? - ✅✅ Current code
What is calculated in project overhead? - ✅✅ Supervisor salaries
Lead Exposure - ✅✅ 1978
Miller Act - ✅✅ 1 Year
Working Capital - ✅✅ current assets - current liabilities
Bid Price - ✅✅ (Dir Cost * 100) / (100-%)
Equity - ✅✅ Assets - Liabilities
A contractor does not notify a change of address and so does not receive a timely
Notice of Renewal. Who is responsible for when the contractor does not renew his
license on time? - ✅✅ The licensee contractor
, A Designated Employee should be? - ✅✅ At least 18, full time, passed required
exams
What is the initial Recovery Fund fee? - ✅✅ $25.00
If a contractor earns more than $_______ per year, then the contractor is required
to have a Class A. - ✅✅ $750,000.00
If a contract awards more than $_________ per payment, the contractor is required
to have a Class A. - ✅✅ $120,000.00
An Erosion control conservation plan needs to be approved within ____ days. -
✅✅ 45
Where do you go to file an appeal of a violation to the USBC provisions? - ✅✅
To The BBCA
A contractor is required to submit a renewal within____ days of the expiration
date? - ✅✅ 30
Who can file a complaint against a contractor? - ✅✅ any one
What is required when changing the form of entity from a sole proprietorship to a
corporation - ✅✅ A new license
What is the maximum fund allowed for a single contractor? - ✅✅ $40,000.00
