VA CONTRACTORS LICENSE EXAM 2 FINAL
PAPER 2026 COMPLETE QUESTIONS AND
ANSWERS
◉ All of the following are considered general conditions that could
affect costs directly associated with a specific project EXCEPT
Answer: profit margin.
◉ The two basic laws of construction estimating are Answer: low
estimates decrease profits and high estimates decrease volume.
◉ What should be added to wage rates to ensure accuracy in
estimating labor for a project? Answer: Labor burden.
◉ A reason for using a lower than usual profit markup for a specific
project could be to Answer: cover company overhead costs
◉ What MUST be included in an estimate for a job? Answer:
Materials, labor, equipment, and overhead costs.
◉ Which of the following estimating methods is typically used by the
architect rather than the contractor? Answer: Conceptual estimate.
, ◉ A contractor should do all of the following when estimating a
project EXCEPT Answer: assume ideal conditions.
◉ Which of the following is a TRUE statement about estimating?
Answer: Both overestimating and underestimating costs could have
disastrous consequences.
◉ Equipment needs for a project are BEST estimated by Answer:
calculating the number of hours or days it is needed
◉ Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered Answer: project
overhead.
◉ Generally, who is responsible for ensuring that a project meets all
zoning requirements? Answer: Project owner.
◉ The three PRIMARY elements of a contract are Answer: offer,
acceptance, and consideration
◉ A bid that does NOT specifiy how long it remains open or in effect
is considered to be open for Answer: reasonable amount of time.
PAPER 2026 COMPLETE QUESTIONS AND
ANSWERS
◉ All of the following are considered general conditions that could
affect costs directly associated with a specific project EXCEPT
Answer: profit margin.
◉ The two basic laws of construction estimating are Answer: low
estimates decrease profits and high estimates decrease volume.
◉ What should be added to wage rates to ensure accuracy in
estimating labor for a project? Answer: Labor burden.
◉ A reason for using a lower than usual profit markup for a specific
project could be to Answer: cover company overhead costs
◉ What MUST be included in an estimate for a job? Answer:
Materials, labor, equipment, and overhead costs.
◉ Which of the following estimating methods is typically used by the
architect rather than the contractor? Answer: Conceptual estimate.
, ◉ A contractor should do all of the following when estimating a
project EXCEPT Answer: assume ideal conditions.
◉ Which of the following is a TRUE statement about estimating?
Answer: Both overestimating and underestimating costs could have
disastrous consequences.
◉ Equipment needs for a project are BEST estimated by Answer:
calculating the number of hours or days it is needed
◉ Costs that relate to construction activity but are NOT easily
identifiable for a specific project are considered Answer: project
overhead.
◉ Generally, who is responsible for ensuring that a project meets all
zoning requirements? Answer: Project owner.
◉ The three PRIMARY elements of a contract are Answer: offer,
acceptance, and consideration
◉ A bid that does NOT specifiy how long it remains open or in effect
is considered to be open for Answer: reasonable amount of time.
