VA Contractors: General (Class A or B) – VIRGINIA HIC Exam
Practice Questions and Verified Answers Graded A+
1. Which of the following estimating methods is typically used by the architect rather
than the contractor?:Conceptualestimate
2. An agreement that calls for a contractor to be paid actual costs for labor and
materials plus a fixed fee for the contractor's overhead and profit is called a...: cost
plus contract
3. Equipmentneedsfor a projectare BEST estimatedby...: Calculatingthenumberof
hours or days it is needed
4. What type of insurance is needed for a partnership to insure that the busi -ness
does NOT go out of business if one partner dies?: Ḱey man
5. An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors?: The subcontractorsare primecontractors
6. What protectsa contractorfrom risḱ?: Insurance
7. An ADVANTAGEof a Critical PathMethod(CPM) scheduleis it...: Identifiesactivities that
MUST be completed before other activities can occur
8. What may be coveredby an allowancein a contract?:Light fixture costs
9. Which of the following is consideredethical behavior?: Failing to discloseone subcon-
tractor's bid to another
10. Compensation paid to independent contractors is reported on Form...: 1099
11. The BEST business practice for special -ordered materials is to...: put
the order
requirements in writing
12. A contract refers to an insurance agreement that the contractor is RE -QUIRED
to have.This is considered...:Part of thecontract
13. Records of an employee's exposure to hazardous materials MUST be ḱept a
MINIMUM of how many years?: 30 years
14. AT LEAST how often should employees watch for possible hazards at the job site?:
constantly
15. An employee can request to receive advance earned income credit on Form...:
1/6
, W-5
16. A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the
contractor.Under the lien law, this is considered...:Intentto defraudby the contractor
2/6
Practice Questions and Verified Answers Graded A+
1. Which of the following estimating methods is typically used by the architect rather
than the contractor?:Conceptualestimate
2. An agreement that calls for a contractor to be paid actual costs for labor and
materials plus a fixed fee for the contractor's overhead and profit is called a...: cost
plus contract
3. Equipmentneedsfor a projectare BEST estimatedby...: Calculatingthenumberof
hours or days it is needed
4. What type of insurance is needed for a partnership to insure that the busi -ness
does NOT go out of business if one partner dies?: Ḱey man
5. An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors?: The subcontractorsare primecontractors
6. What protectsa contractorfrom risḱ?: Insurance
7. An ADVANTAGEof a Critical PathMethod(CPM) scheduleis it...: Identifiesactivities that
MUST be completed before other activities can occur
8. What may be coveredby an allowancein a contract?:Light fixture costs
9. Which of the following is consideredethical behavior?: Failing to discloseone subcon-
tractor's bid to another
10. Compensation paid to independent contractors is reported on Form...: 1099
11. The BEST business practice for special -ordered materials is to...: put
the order
requirements in writing
12. A contract refers to an insurance agreement that the contractor is RE -QUIRED
to have.This is considered...:Part of thecontract
13. Records of an employee's exposure to hazardous materials MUST be ḱept a
MINIMUM of how many years?: 30 years
14. AT LEAST how often should employees watch for possible hazards at the job site?:
constantly
15. An employee can request to receive advance earned income credit on Form...:
1/6
, W-5
16. A contractor uses funds paid by a project owner to purchase materials to start a
different project. The laborers for the original project do NOT get paid by the
contractor.Under the lien law, this is considered...:Intentto defraudby the contractor
2/6
