Michigan Residential Builder
Construction Business Law Exam 2026
Questions and Answers Graded A+
only one at a time - Correct answer-A licensed salesman can work for how many
builder or contractor at one time?
Notes Payable - Correct answer-A company's assets should include all of the
following except...
An account payable - Correct answer-A debt owed to a supplier for goods or
services purchased is called...
under no circumstances - Correct answer-A licensed builder can legally accept a
job or contract from an unlicensed salesperson...
Fined and Imprisoned - Correct answer-A salespersons in violation of the
Occupational Code may be...
For willful refusal to cooperate in the investigation of a complaint - Correct
answer-A contempt of court citation can be issued against a builder who is the
object of a complaint.
, subpoena - Correct answer-A court order requiring a builder to present books an
records to the Bureau following a complaint is called
County register of deeds - Correct answer-A lien claim is filed with the
Accounts payable - Correct answer-A builder needs a loan from a bank. what is not
acceptable as collateral
30 days - Correct answer-A proper notification of change of address to the
Department of licensing and regulation (BOPR) must be made within
by mutual agreement - Correct answer-A building contract can be cancelled
have his new employer apply to the board for transfer of the salespersons license -
Correct answer-A salesperson leaves the builder under whom he's licensed and
enters the employment of a new builder . What must the salesperson do...
Payment bond or performance bond - Correct answer-prior to serving notices,
primes, subcontractors and materials supplier should consider the effect of a
_____or joint control.
records - Correct answer-During litigation, properly documented ______may be
used to ascertain the true impact, and determine damages and settlement.
90 days - Correct answer-A subcontractor has _____ days in which to file a lawsuit
to foreclose on a lien.
Construction Business Law Exam 2026
Questions and Answers Graded A+
only one at a time - Correct answer-A licensed salesman can work for how many
builder or contractor at one time?
Notes Payable - Correct answer-A company's assets should include all of the
following except...
An account payable - Correct answer-A debt owed to a supplier for goods or
services purchased is called...
under no circumstances - Correct answer-A licensed builder can legally accept a
job or contract from an unlicensed salesperson...
Fined and Imprisoned - Correct answer-A salespersons in violation of the
Occupational Code may be...
For willful refusal to cooperate in the investigation of a complaint - Correct
answer-A contempt of court citation can be issued against a builder who is the
object of a complaint.
, subpoena - Correct answer-A court order requiring a builder to present books an
records to the Bureau following a complaint is called
County register of deeds - Correct answer-A lien claim is filed with the
Accounts payable - Correct answer-A builder needs a loan from a bank. what is not
acceptable as collateral
30 days - Correct answer-A proper notification of change of address to the
Department of licensing and regulation (BOPR) must be made within
by mutual agreement - Correct answer-A building contract can be cancelled
have his new employer apply to the board for transfer of the salespersons license -
Correct answer-A salesperson leaves the builder under whom he's licensed and
enters the employment of a new builder . What must the salesperson do...
Payment bond or performance bond - Correct answer-prior to serving notices,
primes, subcontractors and materials supplier should consider the effect of a
_____or joint control.
records - Correct answer-During litigation, properly documented ______may be
used to ascertain the true impact, and determine damages and settlement.
90 days - Correct answer-A subcontractor has _____ days in which to file a lawsuit
to foreclose on a lien.
