Virginia Contractor’s Exam with Questions and Answers – (2025-2026) – 100%
Solved
A bid that does NOT specifiy how long it remains open or in effect is considered to be open for -
✔✔✔-reasonable amount of time.
A building official MUST issue a certificate of occupancy for a building that meets all the
requirements for a certificate within a MAXIMUM of how many working days after the
certificate was requested? - ✔✔✔-5
A company's net worth is equal to - ✔✔✔-owner's equity.
A contract for which of the following types of structures may be subject to recovery from the
Transaction Recovery Fund? - ✔✔✔-Residential only
A contract refers to an insurance agreement that the contractor is REQUIRED to have. This is
considered - ✔✔✔-part of the contract.
A contractor plans to use materials or methods other than those standard in the industry. The
contractor should - ✔✔✔-verify that the representative has the authority to bind the
corporation.
A contractor should do all of the following when estimating a project EXCEPT - ✔✔✔-assume
ideal conditions.
A contractor uses funds paid by a project owner to purchase materials to start a different
project. The laborers for the original project do NOT get paid by the contractor. Under the lien
law, this is considered - ✔✔✔-intent to defraud by the contractor.
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of -
✔✔✔-$15,000
, Virginia Contractor’s Exam with Questions and Answers – (2025-2026) – 100%
Solved
A licensee's name change MUST be reported to the Board within a MAXIMUM of how many
days? - ✔✔✔-30 days.
A reason for using a lower than usual profit markup for a specific project could be to - ✔✔✔-
cover company overhead costs
A verified claim for payment from the Transaction Recovery Fund MUST occur within a
MAXIMUM of what period of time from the date the claimant was awarded a final judgment? -
✔✔✔-12 months.
According to the Board Rules and Regulations, a full-time employee is one who works a
MINIMUM of how many hours per week? - ✔✔✔-30 hours.
According to the Board Rules and Regulations, which of the following could be a qualified
individual? - ✔✔✔-Any full-time employee
Additions to buildings MUST comply with - ✔✔✔-the current code for new construction.
All Class A contractor licensure applications MUST include - ✔✔✔-information on the
knowledge, skills, and abilities of the applicant.
All of the following are advantages of good scheduling EXCEPT - ✔✔✔-reduced training costs.
All of the following are considered general conditions that could affect costs directly associated
with a specific project EXCEPT - ✔✔✔-profit margin.
All of the following must be licensed EXCEPT - ✔✔✔-a material supplier who advises a
contractor.
Solved
A bid that does NOT specifiy how long it remains open or in effect is considered to be open for -
✔✔✔-reasonable amount of time.
A building official MUST issue a certificate of occupancy for a building that meets all the
requirements for a certificate within a MAXIMUM of how many working days after the
certificate was requested? - ✔✔✔-5
A company's net worth is equal to - ✔✔✔-owner's equity.
A contract for which of the following types of structures may be subject to recovery from the
Transaction Recovery Fund? - ✔✔✔-Residential only
A contract refers to an insurance agreement that the contractor is REQUIRED to have. This is
considered - ✔✔✔-part of the contract.
A contractor plans to use materials or methods other than those standard in the industry. The
contractor should - ✔✔✔-verify that the representative has the authority to bind the
corporation.
A contractor should do all of the following when estimating a project EXCEPT - ✔✔✔-assume
ideal conditions.
A contractor uses funds paid by a project owner to purchase materials to start a different
project. The laborers for the original project do NOT get paid by the contractor. Under the lien
law, this is considered - ✔✔✔-intent to defraud by the contractor.
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of -
✔✔✔-$15,000
, Virginia Contractor’s Exam with Questions and Answers – (2025-2026) – 100%
Solved
A licensee's name change MUST be reported to the Board within a MAXIMUM of how many
days? - ✔✔✔-30 days.
A reason for using a lower than usual profit markup for a specific project could be to - ✔✔✔-
cover company overhead costs
A verified claim for payment from the Transaction Recovery Fund MUST occur within a
MAXIMUM of what period of time from the date the claimant was awarded a final judgment? -
✔✔✔-12 months.
According to the Board Rules and Regulations, a full-time employee is one who works a
MINIMUM of how many hours per week? - ✔✔✔-30 hours.
According to the Board Rules and Regulations, which of the following could be a qualified
individual? - ✔✔✔-Any full-time employee
Additions to buildings MUST comply with - ✔✔✔-the current code for new construction.
All Class A contractor licensure applications MUST include - ✔✔✔-information on the
knowledge, skills, and abilities of the applicant.
All of the following are advantages of good scheduling EXCEPT - ✔✔✔-reduced training costs.
All of the following are considered general conditions that could affect costs directly associated
with a specific project EXCEPT - ✔✔✔-profit margin.
All of the following must be licensed EXCEPT - ✔✔✔-a material supplier who advises a
contractor.
