MN Contractor Exam EXAM COVERAGE
(Business/Law/Warranty/Managem
ent) Minnesota Contractor Exam - Business, Law,
Warranty, Management
Business & Financial Management
Business structures and licensing requirements
Accounting, bookkeeping, and financial
reporting
Bidding, estimating, and project cost control
Insurance, bonding, and financial responsibility
Construction Law & Regulations
Minnesota construction statutes and building
codes
Contract law: formation, enforcement, and
breach
Licensing board rules, disciplinary actions, and
penalties
Liens, claims, and dispute resolution
Warranties & Consumer Protection
Statutory warranty requirements for residential
and commercial work
Handling warranty claims and service
obligations
Consumer rights and complaint management
Project & Management Practices
Scheduling, supervision, and subcontractor
management
, Risk management and jobsite safety compliance
(OSHA basics)
Documentation, reporting, and recordkeeping
A contractor must notify the False
Commissioner of any change in
personal name, trade name of
business entity, or business
location no later than 15 days after
the change (t/f)
within a written contract, words True
take priority over numbers (t/f)
False
a contractor must first contact the
Department of Commerce when
filing for an assumed name (t/f)
when building a new home or False
remodeling, the prime contractor
and all subcontractors work under
the direction of the property owner
(t/f)
, non-licensed independent True
contractors are required to be
registered with the DLI (t/f)
General liability insurance limits True
should be at least $100,000 per
occurrence and $300,000
aggregate limit for bodily injury
(t/f)
The maximum recovery for the True
Contractor Recovery Fund is
$300,000 per license (t/f)
Timely renewal for your license is False, March 1
every other year on March 31 (t/f)
one of the benefits of being a False
licensed residential remodeler is
that a remodeler can also build
new homes (t/f)
(Business/Law/Warranty/Managem
ent) Minnesota Contractor Exam - Business, Law,
Warranty, Management
Business & Financial Management
Business structures and licensing requirements
Accounting, bookkeeping, and financial
reporting
Bidding, estimating, and project cost control
Insurance, bonding, and financial responsibility
Construction Law & Regulations
Minnesota construction statutes and building
codes
Contract law: formation, enforcement, and
breach
Licensing board rules, disciplinary actions, and
penalties
Liens, claims, and dispute resolution
Warranties & Consumer Protection
Statutory warranty requirements for residential
and commercial work
Handling warranty claims and service
obligations
Consumer rights and complaint management
Project & Management Practices
Scheduling, supervision, and subcontractor
management
, Risk management and jobsite safety compliance
(OSHA basics)
Documentation, reporting, and recordkeeping
A contractor must notify the False
Commissioner of any change in
personal name, trade name of
business entity, or business
location no later than 15 days after
the change (t/f)
within a written contract, words True
take priority over numbers (t/f)
False
a contractor must first contact the
Department of Commerce when
filing for an assumed name (t/f)
when building a new home or False
remodeling, the prime contractor
and all subcontractors work under
the direction of the property owner
(t/f)
, non-licensed independent True
contractors are required to be
registered with the DLI (t/f)
General liability insurance limits True
should be at least $100,000 per
occurrence and $300,000
aggregate limit for bodily injury
(t/f)
The maximum recovery for the True
Contractor Recovery Fund is
$300,000 per license (t/f)
Timely renewal for your license is False, March 1
every other year on March 31 (t/f)
one of the benefits of being a False
licensed residential remodeler is
that a remodeler can also build
new homes (t/f)
