NASCLA CONTRACTORS GUIDE
ARKANSAS. EXAM QUESTIONS WITH
100% CORRECT ANSWERS | LATEST
VERSION 2025/2026.
How many members of the board are consumers? - ANS 2
what laws secure the right of employees to decide if they wish to support or join a union? -
ANS right to work
__________ is anything of value - ANS Consideration
which of the following establishes an employee's eligibility to leagally work in the united states?
- ANS Social Security Card
which of the following should not be tolerated at a job site? - ANS foul language
enployers engage in building repair work with __________or more employees are required to
carry workers compensation - ANS 2
If an employee earns 112,000 per year, what is the total amount of FICA to be paid in? -
ANS 15,896 (112,000 X 2.9=3,248 (total medicare) 102,000 X 12.4=12,648 (total social
security) 12,648+3,248=15,896
1 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,which of the following iteams are not added after estimating materials and labor? -
ANS material consumption
which is not a purpose of marketing - ANS open a check account
which of the following establishes an employee's identity to leagally work in the United States?
- ANS Drivers License
What is the return on total assets if there is a net profit (after taxes) or 16,000 and total assets
of $48,000? - ANS 1/3 (chapter 14-7)
all of the following are part of bid documents, Bid form , invitation to Bid, and Addenda except -
ANS Form of Agreement
Which of the following is not used to pay taxes - ANS W4
A sole proprietor is taxed on _______? - ANS ordinary income
How many years have to pass when a license expires to be determined nil? - ANS 2
The purpose of workers compensation is to allow for monetary compensation when an
employee is? - ANS injured from work
_________ is a provision written into contract that is used to limit risk in case of labor strikes? -
ANS Force majeure
New applications for licensure must have______the net worth? - ANS 1/2
2 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, An EAP is required for to be in writting for ______ employees or more? - ANS 11
What form is used to report FUTA taxes? - ANS 940
When handling change order, one should always do the following except?(invoice change order
work immediately, included complimentary work done without charge, show labor and
quantity details) - ANS signed change order is not required
State umemployment tax reports are dueby ____? - ANS January 31
Generally, which of the following is not a business tax? ( employment tax, self- employment tax,
income tax are) - ANS property tax
What is a quick ratio (or acid test ratio) for company that hascurrent assets of $28,000,
inventory of $4,000, and current liabilities of $6,000? - ANS 4/1 ( chapter 14-6 )
A management team for a limited partnership consists of? - ANS General Partners
What type of financial statement is used to establish revenues and expenses over a period of
time? - ANS income statement
Which of the following is not a member of the supervisory team? - ANS project manager
How much will a license pay if they file a renewal within 30 days after expiration? - ANS $100
The construction industry payment protection act of 1999 states ____________ -
ANS payment bond protections are void before work begins
3 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
ARKANSAS. EXAM QUESTIONS WITH
100% CORRECT ANSWERS | LATEST
VERSION 2025/2026.
How many members of the board are consumers? - ANS 2
what laws secure the right of employees to decide if they wish to support or join a union? -
ANS right to work
__________ is anything of value - ANS Consideration
which of the following establishes an employee's eligibility to leagally work in the united states?
- ANS Social Security Card
which of the following should not be tolerated at a job site? - ANS foul language
enployers engage in building repair work with __________or more employees are required to
carry workers compensation - ANS 2
If an employee earns 112,000 per year, what is the total amount of FICA to be paid in? -
ANS 15,896 (112,000 X 2.9=3,248 (total medicare) 102,000 X 12.4=12,648 (total social
security) 12,648+3,248=15,896
1 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,which of the following iteams are not added after estimating materials and labor? -
ANS material consumption
which is not a purpose of marketing - ANS open a check account
which of the following establishes an employee's identity to leagally work in the United States?
- ANS Drivers License
What is the return on total assets if there is a net profit (after taxes) or 16,000 and total assets
of $48,000? - ANS 1/3 (chapter 14-7)
all of the following are part of bid documents, Bid form , invitation to Bid, and Addenda except -
ANS Form of Agreement
Which of the following is not used to pay taxes - ANS W4
A sole proprietor is taxed on _______? - ANS ordinary income
How many years have to pass when a license expires to be determined nil? - ANS 2
The purpose of workers compensation is to allow for monetary compensation when an
employee is? - ANS injured from work
_________ is a provision written into contract that is used to limit risk in case of labor strikes? -
ANS Force majeure
New applications for licensure must have______the net worth? - ANS 1/2
2 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, An EAP is required for to be in writting for ______ employees or more? - ANS 11
What form is used to report FUTA taxes? - ANS 940
When handling change order, one should always do the following except?(invoice change order
work immediately, included complimentary work done without charge, show labor and
quantity details) - ANS signed change order is not required
State umemployment tax reports are dueby ____? - ANS January 31
Generally, which of the following is not a business tax? ( employment tax, self- employment tax,
income tax are) - ANS property tax
What is a quick ratio (or acid test ratio) for company that hascurrent assets of $28,000,
inventory of $4,000, and current liabilities of $6,000? - ANS 4/1 ( chapter 14-6 )
A management team for a limited partnership consists of? - ANS General Partners
What type of financial statement is used to establish revenues and expenses over a period of
time? - ANS income statement
Which of the following is not a member of the supervisory team? - ANS project manager
How much will a license pay if they file a renewal within 30 days after expiration? - ANS $100
The construction industry payment protection act of 1999 states ____________ -
ANS payment bond protections are void before work begins
3 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
