Part-1, Florida Contractor Exam, (Buisness and Finance)|
Ques ons and answers | Updated RATED A+ | NEW
2026
According AIA, the contractor shall pay the subcontractor within _________ days a er the
contractor receives payment form the owner
. A. three working
B five calendar
C. five working
D. seven working
D. seven Working days
A registered contractor may apply for "grandfathering" as cer$fied contractor a er______ years
of experience.
A. 2
B. 4
C. 5
D. 10
c. 5
When making business plan to start up business, it is impera$ve to know who and where the
______are.
A. employees
B. adver$sers
C. compe$tors
D. professionals
C. compe$tors
Having received the list of subcontractors, the architect immediately objects to the use of
plumber X's company. The general contractor promptly proposes using plumbing Y's company at
higher cost of $5,000. What is the general contractor en$tled to?
A. nothing
B. a $me extension only
C.$5,000 plus approved $me extension
D. contract with owner needs to be renego$ated
, C. $5000 plus approved tome extension
If one of your workers found to be an employee and not an independent contractor, which of
the following may the IRS determine you are liable to pay?
A.FICA and income tax
B. accrued vaca$on $me
C. legal expenses of the workers
D. Worker's Compensa$on premiums
A. FICA and income tax
A material supplier has offered payment terms of 2% 10 days/net 30 days. Assuming the invoice
received August 17th for $2,500 is paid August 30th, what would be the TOTAL payment?
A.$2,450
B. $2,495
C. $2,500
D. $2,550
C. $2500
Assistance in iden$fying sources of available business financing could be obtained from the
A. Department of Revenue
B. U.S. Internal Revenue Service
C. Small Business Administra$on
D. Florida Department of Commerce and Economic Development
C. Small Buisness Administra$on
When evalua$ng an offered job, it is necessary to be able to calculate all costs, including
______to determine if it will be profitable.
A. assets
B. licenses
C. man-hours
D. fic$$ous names
C. Man-hours
A builder hires a plumbing contractor to perform the plumbing work on a new residen$al
dwelling. The plumbing contractor completes the work, but does not receive payment from the
builder. The plumbing contractor records a claim of lien in the public records. How much $me
a er the claim of lien was recorded does he have to commence an ac$on to enforce the
construc$on lien?
A. within 45 days
Ques ons and answers | Updated RATED A+ | NEW
2026
According AIA, the contractor shall pay the subcontractor within _________ days a er the
contractor receives payment form the owner
. A. three working
B five calendar
C. five working
D. seven working
D. seven Working days
A registered contractor may apply for "grandfathering" as cer$fied contractor a er______ years
of experience.
A. 2
B. 4
C. 5
D. 10
c. 5
When making business plan to start up business, it is impera$ve to know who and where the
______are.
A. employees
B. adver$sers
C. compe$tors
D. professionals
C. compe$tors
Having received the list of subcontractors, the architect immediately objects to the use of
plumber X's company. The general contractor promptly proposes using plumbing Y's company at
higher cost of $5,000. What is the general contractor en$tled to?
A. nothing
B. a $me extension only
C.$5,000 plus approved $me extension
D. contract with owner needs to be renego$ated
, C. $5000 plus approved tome extension
If one of your workers found to be an employee and not an independent contractor, which of
the following may the IRS determine you are liable to pay?
A.FICA and income tax
B. accrued vaca$on $me
C. legal expenses of the workers
D. Worker's Compensa$on premiums
A. FICA and income tax
A material supplier has offered payment terms of 2% 10 days/net 30 days. Assuming the invoice
received August 17th for $2,500 is paid August 30th, what would be the TOTAL payment?
A.$2,450
B. $2,495
C. $2,500
D. $2,550
C. $2500
Assistance in iden$fying sources of available business financing could be obtained from the
A. Department of Revenue
B. U.S. Internal Revenue Service
C. Small Business Administra$on
D. Florida Department of Commerce and Economic Development
C. Small Buisness Administra$on
When evalua$ng an offered job, it is necessary to be able to calculate all costs, including
______to determine if it will be profitable.
A. assets
B. licenses
C. man-hours
D. fic$$ous names
C. Man-hours
A builder hires a plumbing contractor to perform the plumbing work on a new residen$al
dwelling. The plumbing contractor completes the work, but does not receive payment from the
builder. The plumbing contractor records a claim of lien in the public records. How much $me
a er the claim of lien was recorded does he have to commence an ac$on to enforce the
construc$on lien?
A. within 45 days
