Virginia practice exam questions and
answers3
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee
within a MINIMUM of how many days from when the assessment fee notice was mailed? -
ANSWERS-45 days
An appeal of a final decision of a county on an erosion control plan MUST be filed with a
MAXIMUM of how many days? - ANSWERS-30 days
All Class A contractor licensure applications MUST include: - ANSWERS-Information on the
knowledge, skills, abilities of the applicant
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWERS-The
contractors license is revoked
Which of the following is a requirement for a joint venture? - ANSWERS-Either the joint venture
or each contracting party of joint venture must be licensed
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the Fund
balance is less than - ANSWERS-$400,000
according to the board rules and regulations, which if the following could be a qualified
individual - ANSWERS-Any full-time employee
A verified claim for the 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 judgement -
ANSWERS-12 months
answers3
Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee
within a MINIMUM of how many days from when the assessment fee notice was mailed? -
ANSWERS-45 days
An appeal of a final decision of a county on an erosion control plan MUST be filed with a
MAXIMUM of how many days? - ANSWERS-30 days
All Class A contractor licensure applications MUST include: - ANSWERS-Information on the
knowledge, skills, abilities of the applicant
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWERS-The
contractors license is revoked
Which of the following is a requirement for a joint venture? - ANSWERS-Either the joint venture
or each contracting party of joint venture must be licensed
Contractors will be assessed a fee for the Transaction Recovery Fund whenever the Fund
balance is less than - ANSWERS-$400,000
according to the board rules and regulations, which if the following could be a qualified
individual - ANSWERS-Any full-time employee
A verified claim for the 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 judgement -
ANSWERS-12 months
