Virginia Class A Contractor Exam –
Questions And Correct Answers
(Verified Answers) Plus Rationales 2026
Q&A | Instant Download Pdf
1. What is the minimum net worth required for a Virginia Class A
Contractor license?
A. $5,000
B. $10,000
C. $15,000
D. $20,000
Answer: C
Class A requires a minimum $15,000 net worth.
2. Which governing body regulates contractor licensing in Virginia?
A. Department of Transportation
B. Board for Contractors
C. Building Officials Association
D. State Corporation Commission
Answer: B
The Virginia Board for Contractors handles licensing.
3. A Class A contractor may contract for projects of what value?
,A. Up to $120,000 only
B. Up to $750,000 only
C. Unlimited
D. Up to $1 million only
Answer: C
Class A is the highest classification and has no monetary limits.
4. Which document must a contractor maintain to prove financial
responsibility?
A. Project permit
B. Balance sheet
C. Work schedule
D. Blueprint plan
Answer: B
Financial statements show net worth requirements.
5. How often must a Virginia contractor license be renewed?
A. Every year
B. Every 2 years
C. Every 3 years
D. Every 4 years
Answer: B
Licenses expire every two years.
6. Which statement best describes “prime contractor”?
A. Submits labor only
B. Contracts directly with the owner
C. Works under another contractor
D. Supplies materials only
, Answer: B
Prime contractors contract directly with the project owner.
7. Failure to notify the Board within 30 days of address change can
result in:
A. Class 2 felony
B. Disciplinary action
C. Automatic license upgrade
D. No consequence
Answer: B
Contractors must update address to stay compliant.
8. A mechanic’s lien must be filed within how many days after last
performing work?
A. 30 days
B. 60 days
C. 90 days
D. 120 days
Answer: C
Mechanic’s liens must be filed within 90 days.
9. The purpose of retainage is to:
A. Speed up payments
B. Encourage faster work
C. Protect owner against incomplete work
D. Buy extra materials
Answer: C
Retainage ensures project completion and quality.
10. Which contract type provides a fixed total price?
Questions And Correct Answers
(Verified Answers) Plus Rationales 2026
Q&A | Instant Download Pdf
1. What is the minimum net worth required for a Virginia Class A
Contractor license?
A. $5,000
B. $10,000
C. $15,000
D. $20,000
Answer: C
Class A requires a minimum $15,000 net worth.
2. Which governing body regulates contractor licensing in Virginia?
A. Department of Transportation
B. Board for Contractors
C. Building Officials Association
D. State Corporation Commission
Answer: B
The Virginia Board for Contractors handles licensing.
3. A Class A contractor may contract for projects of what value?
,A. Up to $120,000 only
B. Up to $750,000 only
C. Unlimited
D. Up to $1 million only
Answer: C
Class A is the highest classification and has no monetary limits.
4. Which document must a contractor maintain to prove financial
responsibility?
A. Project permit
B. Balance sheet
C. Work schedule
D. Blueprint plan
Answer: B
Financial statements show net worth requirements.
5. How often must a Virginia contractor license be renewed?
A. Every year
B. Every 2 years
C. Every 3 years
D. Every 4 years
Answer: B
Licenses expire every two years.
6. Which statement best describes “prime contractor”?
A. Submits labor only
B. Contracts directly with the owner
C. Works under another contractor
D. Supplies materials only
, Answer: B
Prime contractors contract directly with the project owner.
7. Failure to notify the Board within 30 days of address change can
result in:
A. Class 2 felony
B. Disciplinary action
C. Automatic license upgrade
D. No consequence
Answer: B
Contractors must update address to stay compliant.
8. A mechanic’s lien must be filed within how many days after last
performing work?
A. 30 days
B. 60 days
C. 90 days
D. 120 days
Answer: C
Mechanic’s liens must be filed within 90 days.
9. The purpose of retainage is to:
A. Speed up payments
B. Encourage faster work
C. Protect owner against incomplete work
D. Buy extra materials
Answer: C
Retainage ensures project completion and quality.
10. Which contract type provides a fixed total price?
