Virginia HIC Exam study guide COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of
license? - (answer)$500 fine per day for each day of violation plus penalties for a misdemeanor.
All Class A contractor licensure applications MUST include - (answer)information on the knowledge,
skills, and abilities of the applicant.
What is the PRIMARY purpose of licensing? - (answer)Protect the health and welfare of the public.
When a claimant is paid funds from the Contractors Recovery Trust Fund - (answer)the contractor's
license is revoked. !!!
The application for licensure MUST include - (answer)the business address of the proposed designated
employee.
Which of the following is a requirement for a joint venture? - (answer)Either the joint venture or each
contracting party of the joint venture must be licensed.
All of the following must be licensed EXCEPT - (answer)a material supplier who advises a contractor.
How much is the Class A initial license fee? - (answer)$200
A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? -
(answer)30 days
According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of
how many hours per week? - (answer)30 hours.
,Virginia HIC Exam study guide COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of -
(answer)$15,000.
According to the Board Rules and Regulations, which of the following could be a qualified individual? -
(answer)Any full-time employee.
An appeal of the local building official's decision to refuse to grant a modification to the USBC MUST be
made to the local building board within a MAXIMUM of how many days? - (answer)90 days.
A building official MUST issue a certificate of occupancy for a building that meets all the requirements
for a certificate within a MAXIMUM of how many working days after the certificate was requested? -
(answer)5
Additions to buildings MUST comply with - (answer)the current code for new construction.
When MUST the work be stopped following the issuance of a stop work order? - (answer)Immediately
Who is to be in charge of a local building department? - (answer)Building official.
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within
a MINIMUM of how many days from when the assessment fee notice was mailed? - (answer)45 days
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the fund balance is less
than - (answer)$400,000.
Payments made by the Transaction Recovery Fund to claimants may include an amount for -
(answer)attorneys' fees.
, Virginia HIC Exam study guide COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
A contract for which of the following types of structures may be subject to recovery from the
Transaction Recovery Fund? - (answer)Residential only.
A verified claim for payment from the Transaction Recovery Fund MUST occur within a MAXIMUM of
what period of time from the date the claimant was awarded a final judgment? - (answer)12 months.
An appeal of a final decision of a county on an erosion control plan MUST be filed within a MAXIMUM of
how many days? - (answer)30 days.
Temporary erosion and sediment control measures MUST be removed within a MAXIMUM of how many
days after the final site stabilization? - (answer)30 days.
Which of the following statements about a sole proprietorship is TRUE? - (answer)The business, or any
part of it, can be sold, altered, or exchanged at will.
What type of business organization allows people to share financial resources? - (answer)Partnership.
Which of the following estimating methods is typically used by the architect rather than the contractor?
- (answer)Conceptual estimate.
Equipment needs for a project are BEST estimated by - (answer)calculating the number of hours or days
it is needed.
What should be added to wage rates to ensure accuracy in estimating labor for a project? -
(answer)Labor burden.
(Verified Answers) (Latest Update 2026) UPDATE!!
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of
license? - (answer)$500 fine per day for each day of violation plus penalties for a misdemeanor.
All Class A contractor licensure applications MUST include - (answer)information on the knowledge,
skills, and abilities of the applicant.
What is the PRIMARY purpose of licensing? - (answer)Protect the health and welfare of the public.
When a claimant is paid funds from the Contractors Recovery Trust Fund - (answer)the contractor's
license is revoked. !!!
The application for licensure MUST include - (answer)the business address of the proposed designated
employee.
Which of the following is a requirement for a joint venture? - (answer)Either the joint venture or each
contracting party of the joint venture must be licensed.
All of the following must be licensed EXCEPT - (answer)a material supplier who advises a contractor.
How much is the Class A initial license fee? - (answer)$200
A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? -
(answer)30 days
According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of
how many hours per week? - (answer)30 hours.
,Virginia HIC Exam study guide COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of -
(answer)$15,000.
According to the Board Rules and Regulations, which of the following could be a qualified individual? -
(answer)Any full-time employee.
An appeal of the local building official's decision to refuse to grant a modification to the USBC MUST be
made to the local building board within a MAXIMUM of how many days? - (answer)90 days.
A building official MUST issue a certificate of occupancy for a building that meets all the requirements
for a certificate within a MAXIMUM of how many working days after the certificate was requested? -
(answer)5
Additions to buildings MUST comply with - (answer)the current code for new construction.
When MUST the work be stopped following the issuance of a stop work order? - (answer)Immediately
Who is to be in charge of a local building department? - (answer)Building official.
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within
a MINIMUM of how many days from when the assessment fee notice was mailed? - (answer)45 days
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the fund balance is less
than - (answer)$400,000.
Payments made by the Transaction Recovery Fund to claimants may include an amount for -
(answer)attorneys' fees.
, Virginia HIC Exam study guide COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
A contract for which of the following types of structures may be subject to recovery from the
Transaction Recovery Fund? - (answer)Residential only.
A verified claim for payment from the Transaction Recovery Fund MUST occur within a MAXIMUM of
what period of time from the date the claimant was awarded a final judgment? - (answer)12 months.
An appeal of a final decision of a county on an erosion control plan MUST be filed within a MAXIMUM of
how many days? - (answer)30 days.
Temporary erosion and sediment control measures MUST be removed within a MAXIMUM of how many
days after the final site stabilization? - (answer)30 days.
Which of the following statements about a sole proprietorship is TRUE? - (answer)The business, or any
part of it, can be sold, altered, or exchanged at will.
What type of business organization allows people to share financial resources? - (answer)Partnership.
Which of the following estimating methods is typically used by the architect rather than the contractor?
- (answer)Conceptual estimate.
Equipment needs for a project are BEST estimated by - (answer)calculating the number of hours or days
it is needed.
What should be added to wage rates to ensure accuracy in estimating labor for a project? -
(answer)Labor burden.
