NEVADA CONTRACTORS LICENSE LAW PORTION
QUESTIONS AND ANSWERS
You have ____ days to replace a qualified employee? (pg.135) - ANSWER-30
Which of the following is included in company overhead? - ANSWER-Advertising
A quorum shall consist of ___ members of the Nevada State Contractors Board. (NRS 624-090) -
ANSWER-4
A death must be reported to OSHA within____ (pg 63) - ANSWER-8 hours
What summarizes profit making activities over a specific period of time? (pg 90) - ANSWER-
Profit and Loss schedule
What general building contractor does not need to tell a customer with they have a contractor
(NRS 624.600) - ANSWER-Names of individual laborers on the project
The disadvantage of cash basis accounting versus accrual basis accounting is? (pg85) - ANSWER-
The cash basis will show what had been collected and paid out, but not what has been earned
The term "work week" in the FLSA is defined as? (pg47) - ANSWER-168 hours
Youths age ___ may perform any nonhazardous job, for limited hours. (pg.47) - ANSWER-16 and
17
Violators of child labor law provisions are subject to civil penalty of up to ___ each employee
subject to violation? (pg. 49) - ANSWER-11,000.00
The simplest form of business organization is (pg 4) - ANSWER-Sole prop.
Which of the following equations will give you your current ratio? (pg 92) - ANSWER-Current
assets / current liabilities
After your employee makes ___ in one year, you stop deducting FUTA. (pg 39) - ANSWER-
7,000.00
IRS Publication 15 is also known as ____ (pg 38) - ANSWER-Circular E
Records for federal employment taxed must be kept for a minimum of ___ (pg 33) - ANSWER-4
years
Regardless of the type of organization the construction company has established or a licensees'
role in the ownership of the business, it is the ___ why is usually held responsible for all
contracting - related duties (pg 11) - ANSWER-Licensee (qualifier)
, Contracts need to be kept for a minimum of ___ years. (NRS 624.3013) - ANSWER-3
Does your NSCB license permit you to do work on the repairing or construction of mobile
homes? (NRS 624.215) - ANSWER-No. You need a manufactured housing license
The minimum monetary value of work must be ___ in order to file a Mechanics Lien in Nevada
(NRS 108.2214) - ANSWER-$500.00
Upon the death of the sole qualified partner, the license is automatically suspended ___ days
after the death. (NAC 624.660) - ANSWER-60 days
Current assets can be converted into cash within one operation cycle or____ - ANSWER-1 Year
When may the Board require financial responsibility? (NRS 624.263.5) - ANSWER-At any time
What trade can a general building contractor not perform without additional specialty
licensing? (NRS 624.215 (3)) - ANSWER-All of the above
A general building contractor is bidding a drywall job, is this legal? (NRS 624.215 (3)) - ANSWER-
As long as the drywall if included in more than 2 unrelated trades or crafts
Whos responsibility is it to pull permits? (pg 13) - ANSWER-Contractor
A licensee shall display on each commercial motor vehicle registered under his name, his name
and the number of his license, in letters and number approximately ___ high. (NRS 624.288) -
ANSWER-1 1/2 inches
NRS 624.300 pertains to - ANSWER-Disciplinary action against the licensee
If the board orders the licensee to take action to correct a condition, this may require the
licensee to (NRS 624.300) - ANSWER-All of the above
Allowing a license to be used by an unlicensed person is cause for disciplinary action under NRS
624.300. the board can impose an administrative fin of not more than____ (NRS 624.300) -
ANSWER-50,000
If a contractor knowingly enters into a contract with an unlicensed contractor making it a
second offense, what disciplinary action shall the board impose?(NRS 624.300 (3) (B) (3)) -
ANSWER-The board shall impose an administrative fine of not less than $5,000 and not more
then $50,000 and may suspend the license for 1 year
If you do not finish a job, the board can do all of the following except (pg176) - ANSWER-
Require you to increase your general liability
what is the maximum administrative fin for abandonment or failure to complete a construction
project? (NRS 624.301 NAC 624.7251) - ANSWER-$10,000
QUESTIONS AND ANSWERS
You have ____ days to replace a qualified employee? (pg.135) - ANSWER-30
Which of the following is included in company overhead? - ANSWER-Advertising
A quorum shall consist of ___ members of the Nevada State Contractors Board. (NRS 624-090) -
ANSWER-4
A death must be reported to OSHA within____ (pg 63) - ANSWER-8 hours
What summarizes profit making activities over a specific period of time? (pg 90) - ANSWER-
Profit and Loss schedule
What general building contractor does not need to tell a customer with they have a contractor
(NRS 624.600) - ANSWER-Names of individual laborers on the project
The disadvantage of cash basis accounting versus accrual basis accounting is? (pg85) - ANSWER-
The cash basis will show what had been collected and paid out, but not what has been earned
The term "work week" in the FLSA is defined as? (pg47) - ANSWER-168 hours
Youths age ___ may perform any nonhazardous job, for limited hours. (pg.47) - ANSWER-16 and
17
Violators of child labor law provisions are subject to civil penalty of up to ___ each employee
subject to violation? (pg. 49) - ANSWER-11,000.00
The simplest form of business organization is (pg 4) - ANSWER-Sole prop.
Which of the following equations will give you your current ratio? (pg 92) - ANSWER-Current
assets / current liabilities
After your employee makes ___ in one year, you stop deducting FUTA. (pg 39) - ANSWER-
7,000.00
IRS Publication 15 is also known as ____ (pg 38) - ANSWER-Circular E
Records for federal employment taxed must be kept for a minimum of ___ (pg 33) - ANSWER-4
years
Regardless of the type of organization the construction company has established or a licensees'
role in the ownership of the business, it is the ___ why is usually held responsible for all
contracting - related duties (pg 11) - ANSWER-Licensee (qualifier)
, Contracts need to be kept for a minimum of ___ years. (NRS 624.3013) - ANSWER-3
Does your NSCB license permit you to do work on the repairing or construction of mobile
homes? (NRS 624.215) - ANSWER-No. You need a manufactured housing license
The minimum monetary value of work must be ___ in order to file a Mechanics Lien in Nevada
(NRS 108.2214) - ANSWER-$500.00
Upon the death of the sole qualified partner, the license is automatically suspended ___ days
after the death. (NAC 624.660) - ANSWER-60 days
Current assets can be converted into cash within one operation cycle or____ - ANSWER-1 Year
When may the Board require financial responsibility? (NRS 624.263.5) - ANSWER-At any time
What trade can a general building contractor not perform without additional specialty
licensing? (NRS 624.215 (3)) - ANSWER-All of the above
A general building contractor is bidding a drywall job, is this legal? (NRS 624.215 (3)) - ANSWER-
As long as the drywall if included in more than 2 unrelated trades or crafts
Whos responsibility is it to pull permits? (pg 13) - ANSWER-Contractor
A licensee shall display on each commercial motor vehicle registered under his name, his name
and the number of his license, in letters and number approximately ___ high. (NRS 624.288) -
ANSWER-1 1/2 inches
NRS 624.300 pertains to - ANSWER-Disciplinary action against the licensee
If the board orders the licensee to take action to correct a condition, this may require the
licensee to (NRS 624.300) - ANSWER-All of the above
Allowing a license to be used by an unlicensed person is cause for disciplinary action under NRS
624.300. the board can impose an administrative fin of not more than____ (NRS 624.300) -
ANSWER-50,000
If a contractor knowingly enters into a contract with an unlicensed contractor making it a
second offense, what disciplinary action shall the board impose?(NRS 624.300 (3) (B) (3)) -
ANSWER-The board shall impose an administrative fine of not less than $5,000 and not more
then $50,000 and may suspend the license for 1 year
If you do not finish a job, the board can do all of the following except (pg176) - ANSWER-
Require you to increase your general liability
what is the maximum administrative fin for abandonment or failure to complete a construction
project? (NRS 624.301 NAC 624.7251) - ANSWER-$10,000
