VA General class A and B contractors
license Exam with Correct Answers 100%
PASS
Compensation paid to independent contractors is reported on form—ANSWER--1099
The three PRIMARY elements of a contract are—ANSWER--offer, acceptance,
consideration
Equipment needs for a project are BEST estimated by—ANSWER--calculating the
number of hours or days it is needed
An important factor in ensuring a schedule is followed is to—ANSWER--Make sure the
superintendent agrees with it
All of the following are examples of GOOD scheduling EXCEPT—ANSWER--Reduced
training cost
What should be added to wage rates to ensure accuracy in estimating labor for a
project—ANSWER--Labor burden
All of the following are considered general conditions that could affect costs directly
associated with a specific project EXCEPT—ANSWER--Profit margins
Records of employees exposure to hazardous materials MUST be kept a MINIMUM of
how many years—ANSWER--30 years
, A reason for using a lower than usual profit markup for a specific project could be to—
ANSWER--Cover company overhead costs
An advantage of a Critical Path Method (CPM) schedule is to—ANSWER--Identifies
activities that must be completed before other activities can occur
An employee can request to receive advance earned income credit on Form—ANSWER-
-W-5
The two basic laws of construction estimating are—ANSWER--Low estimates decrease
profits and high estimates decrease volume
Medical records of work related injuries to long term employees MUST be kept a
MINIMUM of what duration after the employee leaves—ANSWER--30 years
What type of business organization allows people to share financial resources—
ANSWER--Partnership
A contractor should do all of the following when estimating a project EXCEPT—
ANSWER--Assume ideal conditions
Costs that relate to construction activity but are NOT easily identifiable for a specific
project are considered—ANSWER--Project overhead
What type of insurance is needed in a partnership to insure the business does NOT go
out of business if one partner does—ANSWER--Key man
The BEST business practice for special-ordered materials is to—ANSWER--Put the order
requirements in writing
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
license Exam with Correct Answers 100%
PASS
Compensation paid to independent contractors is reported on form—ANSWER--1099
The three PRIMARY elements of a contract are—ANSWER--offer, acceptance,
consideration
Equipment needs for a project are BEST estimated by—ANSWER--calculating the
number of hours or days it is needed
An important factor in ensuring a schedule is followed is to—ANSWER--Make sure the
superintendent agrees with it
All of the following are examples of GOOD scheduling EXCEPT—ANSWER--Reduced
training cost
What should be added to wage rates to ensure accuracy in estimating labor for a
project—ANSWER--Labor burden
All of the following are considered general conditions that could affect costs directly
associated with a specific project EXCEPT—ANSWER--Profit margins
Records of employees exposure to hazardous materials MUST be kept a MINIMUM of
how many years—ANSWER--30 years
, A reason for using a lower than usual profit markup for a specific project could be to—
ANSWER--Cover company overhead costs
An advantage of a Critical Path Method (CPM) schedule is to—ANSWER--Identifies
activities that must be completed before other activities can occur
An employee can request to receive advance earned income credit on Form—ANSWER-
-W-5
The two basic laws of construction estimating are—ANSWER--Low estimates decrease
profits and high estimates decrease volume
Medical records of work related injuries to long term employees MUST be kept a
MINIMUM of what duration after the employee leaves—ANSWER--30 years
What type of business organization allows people to share financial resources—
ANSWER--Partnership
A contractor should do all of the following when estimating a project EXCEPT—
ANSWER--Assume ideal conditions
Costs that relate to construction activity but are NOT easily identifiable for a specific
project are considered—ANSWER--Project overhead
What type of insurance is needed in a partnership to insure the business does NOT go
out of business if one partner does—ANSWER--Key man
The BEST business practice for special-ordered materials is to—ANSWER--Put the order
requirements in writing
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
