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VIRGINIA CONTRACTORS -VA ADVANCED CLASS A LICENSE EXAM
LATEST 2026 ACTUAL EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
What type of insurance is needed for a partnership to insure that
the business does NOT go out of business if one partner dies? -
ANSWER-Key man
What protects a contractor from risk? - ANSWER-Insurance
What type of material at a construction site may be considered
hazardous waste? - ANSWER-Cleaning supplies
Records of an employee's exposure to hazardous materials
MUST be kept a MINIMUM of how many years? - ANSWER-30
years
AT LEAST how often should employees watch for possible
hazards at the jobsite? - ANSWER-Constantly
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Medical records of work-related injuries to long-term employees
MUST be kept for a MINIMUM of what duration after the
employee leaves employment? - ANSWER-30 years
Approximately how many materials are currently on the EPA
hazardous materials list? - ANSWER-500
Who MUST follow the Fair Labor Standards Act? - ANSWER-all
employers with at least one employee
Time cards must be kept for a minimum of - ANSWER-4 years
how often MUST an employer report information on the number of
employees and the number of new hires in order to meet the
requirements of the Child Support Enforcement Act? - ANSWER-
Every 2 months
Losses from the sale of a company asset are considered -
ANSWER-other expenses
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Where does the information for a company's financial statement
come from? - ANSWER-Summary of accounts in the general
ledger
What is included in a company's balance sheet? - ANSWER-
Assets, liabilities, and owner's equity.
A company's net worth is equal to - ANSWER-owner's equity
Which of the following is considered a source document in an
accounting system? - ANSWER-time cards
An employer who withholds more than $1,000 per month from
employees for state taxes MUST pay those taxes at LEAST -
ANSWER-two times per week
An employee can request to receive advance earned income
credit on Form - ANSWER-w5
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Compensation paid to independent contractors is reported on
Form - ANSWER-1099
What MUST be done with the taxes withheld by an employer
between the time that they are withheld and the time that they are
sent to the IRS? - ANSWER-he taxes must be held in a separate
account and not used for anything
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 - ANSWER-intent to defraud by the contractor
What is the name of the process when a facilitator meets with the
major participants in a project, prior to the commencement of the
project, to identify the shared goals of all participants? -
ANSWER-Partnering
Which of the following would typically be covered by a
contractor's comprehensive general liability insurance policy? -
ANSWER-Damage to adjoining property from a crane accident
VIRGINIA CONTRACTORS -VA ADVANCED CLASS A LICENSE EXAM
LATEST 2026 ACTUAL EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
What type of insurance is needed for a partnership to insure that
the business does NOT go out of business if one partner dies? -
ANSWER-Key man
What protects a contractor from risk? - ANSWER-Insurance
What type of material at a construction site may be considered
hazardous waste? - ANSWER-Cleaning supplies
Records of an employee's exposure to hazardous materials
MUST be kept a MINIMUM of how many years? - ANSWER-30
years
AT LEAST how often should employees watch for possible
hazards at the jobsite? - ANSWER-Constantly
,2|Page
Medical records of work-related injuries to long-term employees
MUST be kept for a MINIMUM of what duration after the
employee leaves employment? - ANSWER-30 years
Approximately how many materials are currently on the EPA
hazardous materials list? - ANSWER-500
Who MUST follow the Fair Labor Standards Act? - ANSWER-all
employers with at least one employee
Time cards must be kept for a minimum of - ANSWER-4 years
how often MUST an employer report information on the number of
employees and the number of new hires in order to meet the
requirements of the Child Support Enforcement Act? - ANSWER-
Every 2 months
Losses from the sale of a company asset are considered -
ANSWER-other expenses
,3|Page
Where does the information for a company's financial statement
come from? - ANSWER-Summary of accounts in the general
ledger
What is included in a company's balance sheet? - ANSWER-
Assets, liabilities, and owner's equity.
A company's net worth is equal to - ANSWER-owner's equity
Which of the following is considered a source document in an
accounting system? - ANSWER-time cards
An employer who withholds more than $1,000 per month from
employees for state taxes MUST pay those taxes at LEAST -
ANSWER-two times per week
An employee can request to receive advance earned income
credit on Form - ANSWER-w5
, 4|Page
Compensation paid to independent contractors is reported on
Form - ANSWER-1099
What MUST be done with the taxes withheld by an employer
between the time that they are withheld and the time that they are
sent to the IRS? - ANSWER-he taxes must be held in a separate
account and not used for anything
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 - ANSWER-intent to defraud by the contractor
What is the name of the process when a facilitator meets with the
major participants in a project, prior to the commencement of the
project, to identify the shared goals of all participants? -
ANSWER-Partnering
Which of the following would typically be covered by a
contractor's comprehensive general liability insurance policy? -
ANSWER-Damage to adjoining property from a crane accident
