Florida Hvac Class A Finance Practice Questions And Answers With Verified Solutions Rated A+

Florida Hvac Class A Finance Practice
Questions And Answers With Verified
Solutions Rated A+
Under the Federal Equal Pay Act of 1963, a court or jury, in the case of a willful
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violation, may award
M - ANSWER✔✔ Back Pay only, up to 3 Years
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The benefit of a good budget is to
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between investment and expected yield
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A constructed contract specifies that the work is to be completed within 180 days
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and You know so liquidated damages of $200 for every day past the contracted
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completion date. Executed change orders added 35 days to the project. It the
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work was completed 205 days, what are the liquidated damages owed by the
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construction company? - ANSWER✔✔ $0
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When Pulling a building permit, a copy of the
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permitting authority. - ANSWER✔✔ Notice of Commencement
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Multi-Worksite Reports MUST agree with the M M M M M M - ANSWER✔✔
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employer's quarterly reports
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Surety bonds are generally required of contractors performing Public Works in
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order to
M - ANSWER✔✔ Protect the Funds of the Taxpayer
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What group of employees is covered by the Florida Right to Work Laws? -
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ANSWER✔✔ Construction Site Employees
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,Which of the following is NOT an accomplishment of a complete cash budget? -
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ANSWER✔✔ provides simply for reserves and fund accumulation.
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It's an accomplishment of a complete cash budget:
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-make day to day and monthly cash available
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-models control of receivables and collectables
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-takes advantage of discounts and excess funds
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Under Title VII of The Civil Rights Act of 1964, once the EEOC issues a Notice of
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Right to Sue, the charging party has
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suit. - ANSWER✔✔ 90 Days
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What is the advantage of an S Corporation for a Sole Proprietor? - ANSWER✔✔
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All corporate income and losses comes to the Sole Proprietor as an individual
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taxpayer.
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What is a profitable loan for a builder? - ANSWER✔✔
M M M M M M M M M The profit from borrowed
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money exceeds the cost
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Which one of the following is on the credit side of the balance sheet? -
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ANSWER✔✔ Net Worth
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What could indicate a need for more employees? - ANSWER✔✔
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overtime exceeds the cost of hiring a new employee
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The financial statement known as the balance sheet must show that
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ANSWER✔✔ The total assets, less the total liability equal the net worth
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,What is the only way to extend the effective period of a claim of lien? -
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ANSWER✔✔ File a suit within 1 year to enforce it
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What is a good way of discussing scheduling, quality, and other issues with
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subcontractors and suppliers? - ANSWER✔✔ Weekly mandatory job site
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meetings
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What is the MOST useful for controlling inventory? - ANSWER✔✔
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Journal
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Using a cost Plus contract for cost escalation is easiest for the
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ANSWER✔✔ Contractor
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A minor violation that does not endanger the public health, safety and welfare,
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and which does not demonstrate a serious inability to practice the construction
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profession would be all of the following except a failure to : - ANSWER✔✔
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Initiate a project during the allotted 6 months after receipt of permit
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Minor Violation
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-register a local license with the CILB prior to contracting
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-register a qualified business organization within 45 days of commencing work
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-include a license number on an advertisement, offer of services, business
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Mproposal, bid or contract M M M




A change of a business address must be mailed to the
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Department of Business and Professional Regulation within how many days of the
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change? - ANSWER✔✔ 45 Days
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, According to the National Council on Compensation Insurance, a contractors
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Mworkers' compensation premiums can be reduced by any of the following EXCEPT:
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- ANSWER✔✔ Requiring the employee to pay part of the premium
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Working compensation can be reduce:
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-Participating in a self-insured program M M M M




-joining an insurance pool
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-participating in a deductible program M M M M




What type of liability insurance protects the contractor from loss due to accidents
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causing bodily injury or property damage to members of the public after
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construction work has been finished and put to its intended use? - ANSWER✔✔
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Completed Operations
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According to Florida Unemployment Compensation Employer Handbook, TAX
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rates are referred to as : - ANSWER✔✔ Experience Ratings
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On which of the following items must Florida sales tax be paid by a prime
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contractor, if its is not included on the invoice? - ANSWER✔✔ Invoice from a
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concrete supplier
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An unemployed worker: - ANSWER✔✔
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months
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What is the best way to control job costs prior to being committed to them? -
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ANSWER✔✔ Purchase Order
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