VA ContrACtors: VA AdVAnCed (ClAss A) exAm newest 2026 ACtuAl exAm
with Complete Questions And CorreCt detAiled Answers (Verified
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A contractor puts in a claim under a comprehensive standard general liability policy. The policy
has no additional coverage, riders, or floaters, and has a $500 deductible per occurrence. The
claim is for a job-site accident that caused $2,000 of injuries to employees, $1,800 of injuries to
a pedestrian, $2,300 damage to the contractor's equipment, and $1,750 loss of project materials
purchased by the contractor. The insurance company is liable for... - CorreCt Answer-$1,300
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who notifies the
lien agent for a two-family residential property on August 1 that the subcontractor first provided
labor and materials on the project on May 1? The subcontractor billed the general contractor for
$4,000 per month, through September 30, and was never paid. - CorreCt Answer-$8,000
What percent should the employer withhold for Virginia withholding for an employee who is to
receive a separate supplemental payment for vacation? The employer is using a flat percentage
rate. - CorreCt Answer-5.75%
A cost plus contract calls for the contractor to receive direct costs for labor and materials, and a
markup of 20% of direct costs. The contractor is also to receive a bound of 15% of savings if
total cost to the owner is less than $80,000, and a bonus of $1,000 per day if the project is
completed early. Final costs for direct labor and materials are $60,000. The project is completed
3 days early. What is the total amount due to the contractor? - CorreCt Answer-Between
$75,001 and $80,000
What would be the total amount of Medicare and Social Security taxes that the employer should
withhold on the last week of the year from an employee who earns $3,000 per week and has
worked for the employer the entire year? - CorreCt Answer-$43.50
A lump sum contract on a project has a total contract price of $160,000. Retainage has been
held back at 10%. The contractor has received progress payments for 75% of the project. The
contractor submits a request for final payment for the new completed project. The final payment
amount should be for... - CorreCt Answer-More than $50,000
with Complete Questions And CorreCt detAiled Answers (Verified
Answers) |AlreAdy GrAded A+ ||rAnked!!!
A contractor puts in a claim under a comprehensive standard general liability policy. The policy
has no additional coverage, riders, or floaters, and has a $500 deductible per occurrence. The
claim is for a job-site accident that caused $2,000 of injuries to employees, $1,800 of injuries to
a pedestrian, $2,300 damage to the contractor's equipment, and $1,750 loss of project materials
purchased by the contractor. The insurance company is liable for... - CorreCt Answer-$1,300
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who notifies the
lien agent for a two-family residential property on August 1 that the subcontractor first provided
labor and materials on the project on May 1? The subcontractor billed the general contractor for
$4,000 per month, through September 30, and was never paid. - CorreCt Answer-$8,000
What percent should the employer withhold for Virginia withholding for an employee who is to
receive a separate supplemental payment for vacation? The employer is using a flat percentage
rate. - CorreCt Answer-5.75%
A cost plus contract calls for the contractor to receive direct costs for labor and materials, and a
markup of 20% of direct costs. The contractor is also to receive a bound of 15% of savings if
total cost to the owner is less than $80,000, and a bonus of $1,000 per day if the project is
completed early. Final costs for direct labor and materials are $60,000. The project is completed
3 days early. What is the total amount due to the contractor? - CorreCt Answer-Between
$75,001 and $80,000
What would be the total amount of Medicare and Social Security taxes that the employer should
withhold on the last week of the year from an employee who earns $3,000 per week and has
worked for the employer the entire year? - CorreCt Answer-$43.50
A lump sum contract on a project has a total contract price of $160,000. Retainage has been
held back at 10%. The contractor has received progress payments for 75% of the project. The
contractor submits a request for final payment for the new completed project. The final payment
amount should be for... - CorreCt Answer-More than $50,000
