VA Contractors: VA Advanced (Class A) Exam with Questions & Verified Answers, 100% Passing Score Guarantee.

VA Contractors: VA Advanced (Class A) Exam with Questions & Verified Answers, 100% Passing Score Guarantee. Quiz_________________? A contractor pays a workers' compensation rate of $0.08 per $100 of office employee payroll, $0.15 per $100 of field supervisor payroll, and $0.26 per $100 of field employee payroll. Total office employee payroll for the year is $25,000. Total field supervisor payroll is $48,000. Total field employee payroll is $225,000. The contractor receives a discount of 5% of total premiums for having a safety program in place. The total workers' compensation for the year is... - Answer More than $600 Quiz_________________? 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... - Answer $1,300 Quiz_________________? 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? - Answer Between $75,001 and $80,000 Quiz_________________? 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... - Answer More than $50,000 Quiz_________________? A non-exempt employee of a contractor covered by the Fair Labor Standards Act works 60 hours during a workweek. The agreement is to pay the employee $400 each week regardless of the numbers of hours worked. What should be the employee's gross pay for the worksheet? - Answer $700.50 Quiz_________________? A permit is obtained on Friday, May 1. The materials are to be delivered May 8. The materials are needed when labor begins on May 11. It is estimated that 15 days of labor are REQUIRED. The crew will work every day, including weekends and holidays. The project is scheduled to be completed on June 8. How many float days are available for the labor for this project? - Answer 13 Quiz_________________? An insurer offers the contractor a 20% per year reduction in premiums if the contractor has a defied safety program in place. The insurer's standard rates are $8 per $1,000 of coverage. The contractor has $300,000 in coverage. How much in premiums will the contractor save a 3-year period by having a defined safety program in place? - Answer Between $1,001 and $1,500 Quiz_________________? For 1 month a company bills out $38,000 in completed work, and receives $22,000 in payments plus $8,000 from the previous month's billings. They pay their total bill of $26,000 to supply houses for this month's purchases, and another $5,000 to supply houses for last month's purchases. Using a cash accounting method and NOT considering any other revenue or expenses, what is the company's net income for the month? - Answer Loss of $1,000