Florida Building Contractor Business/Finance Study
Exam Questions with Detailed Verified Answers
100% Correct Answers Already Graded A+
Quiz: 1. How many employees must an employer have before he must apply
for workers compensation insurance? Ans: 1 or more
Quiz: 2. The most important aspect to consider when bidding is: Ans: Profit
Quiz: 3. What does the acronym GAAP signify in accounting? Ans: Generally
Accepted Accounted Principles
Quiz: 4. If I fail one or more portions of the examination, do I have to retake
all parts again? Ans: No, only the exams on which he or she failed to achieve a
passing score
Quiz: 5. In order to obtain a building permit the following is required: Ans:
Filling out an application
Quiz: 6. When can you allow your employee to view their personal file? Ans:
Whenever they wish to
Quiz: 7. A payment bond would be posted by the: Ans: Prime contractor or
property owner
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, Quiz: 8. How long after I pass the examinations do I have to apply for Initial
Licensure? Ans: Four years
Quiz: 9. Are contractors required to qualify a construction business? Ans:
Yes
Quiz: 10. A payment bond guarantees that the bonding company will pay
valid claims for unpaid bills owed by the ______ posting the bond. Ans: Prime
contractor or property owner
Quiz: 11. Before the completion of work the person who authorizes a
temporary certificate of __________ is the building official. Ans: Occupancy
Quiz: 12. Majority for the negotiated construction contracts are on a
________ basis. Ans: Cost plus fee
Quiz: 13. What must a contractor do to prevent cash flow problems at the
end of a construction project? Ans: Obtain a line of credit from a bank
Quiz: 14. What should be done with the contractors IRS form W-2? Ans: File
a copy in the contractor's office
Quiz: 15. By law, your workers may not be younger than ______ of age. Ans:
16
© 2025 Get it right Stuvia US All rights reserved
Exam Questions with Detailed Verified Answers
100% Correct Answers Already Graded A+
Quiz: 1. How many employees must an employer have before he must apply
for workers compensation insurance? Ans: 1 or more
Quiz: 2. The most important aspect to consider when bidding is: Ans: Profit
Quiz: 3. What does the acronym GAAP signify in accounting? Ans: Generally
Accepted Accounted Principles
Quiz: 4. If I fail one or more portions of the examination, do I have to retake
all parts again? Ans: No, only the exams on which he or she failed to achieve a
passing score
Quiz: 5. In order to obtain a building permit the following is required: Ans:
Filling out an application
Quiz: 6. When can you allow your employee to view their personal file? Ans:
Whenever they wish to
Quiz: 7. A payment bond would be posted by the: Ans: Prime contractor or
property owner
© 2025 Get it right Stuvia US All rights reserved
, Quiz: 8. How long after I pass the examinations do I have to apply for Initial
Licensure? Ans: Four years
Quiz: 9. Are contractors required to qualify a construction business? Ans:
Yes
Quiz: 10. A payment bond guarantees that the bonding company will pay
valid claims for unpaid bills owed by the ______ posting the bond. Ans: Prime
contractor or property owner
Quiz: 11. Before the completion of work the person who authorizes a
temporary certificate of __________ is the building official. Ans: Occupancy
Quiz: 12. Majority for the negotiated construction contracts are on a
________ basis. Ans: Cost plus fee
Quiz: 13. What must a contractor do to prevent cash flow problems at the
end of a construction project? Ans: Obtain a line of credit from a bank
Quiz: 14. What should be done with the contractors IRS form W-2? Ans: File
a copy in the contractor's office
Quiz: 15. By law, your workers may not be younger than ______ of age. Ans:
16
© 2025 Get it right Stuvia US All rights reserved
