MHICl Examl Guidel (Latestl 2025/l 2026l
Update)l |l Questionsl &l Answers|l Gradel
A|l 100%l Correctl (Verifiedl Solutions)
Q:l Amountl ofl generall liabilityl insurancel
Answer:
$50,000
Q:l Experiencel requiredl tol bel licensedl
Answer:
2l yearsl ofl tradel experiencel orl comparablel educationall training
Q:l Tradel experiencel includesl
Answer:
participationl inl al registeredl apprenticel program
Q:l Tradel experiencel includesl
Answer:
employmentl inl performingl homel improvement
Q:l Tradel experiencel
Answer:
employmentl inl performingl commerciall orl residentiall construction,l repairsl orl renovations
,Q:l Tradel experiencel includesl
Answer:
participationl inl al communityl servicel orl charitablel buildingl orl renovationl program
Q:l Tradel experiencel includesl
Answer:
performingl repairsl andl improvementsl thatl requirel al buildingl permitl onl one'sl ownl homel
orl thel homel ofl familyl members
Q:l Salespersonsl arel licensedl asl
Answer:
anl individual
Q:l Guarantyl Fundl compensatesl homeownersl forl
Answer:
actuall loss
Q:l Guarantyl Fundl
Answer:
protectsl homeownersl whol hirel al licensedl homel improvementl contractorsl againstl actuall
lossl causedl byl anl incomplete,l incorrectl orl unworkmanlikel job
Q:l Totall maximuml guarantyl fundl paymentl perl contractorl
Answer:
$100,000
Q:l Contractorl responsel timel forl al complaintl
, Answer:
10l days
Q:l Limitl atl whichl commissionl mayl payl al claiml withoutl al hearingl
Answer:
$5,000
Q:l Whol mustl receivel al signedl copyl ofl thel contractl priorl tol workl starting?l
Answer:
homeowner
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
contractorsl name,l address,l andl MHICl licensel number
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
consumerl noticel thatl givesl telephonel numberl forl Commission
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
noticel ofl formall mediationl ofl disputes,l thatl thel MHICl administersl thel guarantyl fund,l
homeownerl mayl requestl thatl contractorl purchasel performancel bond
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
datesl ofl whenl performancel willl beginl andl whenl itl willl bel substantiallyl completed
Update)l |l Questionsl &l Answers|l Gradel
A|l 100%l Correctl (Verifiedl Solutions)
Q:l Amountl ofl generall liabilityl insurancel
Answer:
$50,000
Q:l Experiencel requiredl tol bel licensedl
Answer:
2l yearsl ofl tradel experiencel orl comparablel educationall training
Q:l Tradel experiencel includesl
Answer:
participationl inl al registeredl apprenticel program
Q:l Tradel experiencel includesl
Answer:
employmentl inl performingl homel improvement
Q:l Tradel experiencel
Answer:
employmentl inl performingl commerciall orl residentiall construction,l repairsl orl renovations
,Q:l Tradel experiencel includesl
Answer:
participationl inl al communityl servicel orl charitablel buildingl orl renovationl program
Q:l Tradel experiencel includesl
Answer:
performingl repairsl andl improvementsl thatl requirel al buildingl permitl onl one'sl ownl homel
orl thel homel ofl familyl members
Q:l Salespersonsl arel licensedl asl
Answer:
anl individual
Q:l Guarantyl Fundl compensatesl homeownersl forl
Answer:
actuall loss
Q:l Guarantyl Fundl
Answer:
protectsl homeownersl whol hirel al licensedl homel improvementl contractorsl againstl actuall
lossl causedl byl anl incomplete,l incorrectl orl unworkmanlikel job
Q:l Totall maximuml guarantyl fundl paymentl perl contractorl
Answer:
$100,000
Q:l Contractorl responsel timel forl al complaintl
, Answer:
10l days
Q:l Limitl atl whichl commissionl mayl payl al claiml withoutl al hearingl
Answer:
$5,000
Q:l Whol mustl receivel al signedl copyl ofl thel contractl priorl tol workl starting?l
Answer:
homeowner
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
contractorsl name,l address,l andl MHICl licensel number
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
consumerl noticel thatl givesl telephonel numberl forl Commission
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
noticel ofl formall mediationl ofl disputes,l thatl thel MHICl administersl thel guarantyl fund,l
homeownerl mayl requestl thatl contractorl purchasel performancel bond
Q:l Requiredl tol bel inl al homel improvementl contractl
Answer:
datesl ofl whenl performancel willl beginl andl whenl itl willl bel substantiallyl completed
