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VA CONTRACTORS: VA ADVANCED (CLASS A)
EXAM | FREQUENTLY TESTED QUESTIONS
WITH CORRECT ANSWERS | BRAND NEW!
A contractor puts in a claim under a comprehensive standard
general liability policy. The policy has no additional coverage,
riders, or floaters, and has a $500 deductible per occurrence. The
claim is for a job-site accident that caused $2,000 of injuries to
employees, $1,800 of injuries to a pedestrian, $2,300 damage to
the contractor's equipment, and $1,750 loss of project materials
purchased by the contractor. The insurance company is liable
for... - ✔✔✔ Correct Answer > $1,300
Which of the following would typically be covered by a
contractor's comprehensive general liability insurance policy? -
✔✔✔ Correct Answer > Damage to adjoining property from a crane
accident
What is the total gross compensation and employment status for
a carpenter, given the following information? A contractor hires a
carpenter to do the finish work for a 10-home project. The
carpenter is to be paid $16 per hour. The contractor provides all
materials and equipment, such as a table saw. The carpenter
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provides all of his own hand tools. The contractor and the
carpenter agree that all of the homes are to be completed within
60 8-hour working days, without overtime. The contractor
provides the carpenter with a schedule of the order in which
homes are to be worked on. The contractor provides a helper to
assist the carpenter. The contractor sets the work schedule each
day. The carpenter spends 600 hours to complete this project,
including 120 hours of overtime. - ✔✔✔ Correct Answer > The
carpenter is an employee and is owed $10,560 for the project
What is the name of the process when a facilitator meets with
the major participants in a project, prior to the commencement
of the project, to identify the shared goals of all participants? -
✔✔✔ Correct Answer > Partnering
What is the average collection period ratio for a firm that has
$365,000 in annual revenues, $6,600 in current receivables, and
net income of $32,000? - ✔✔✔ Correct Answer > 6.6
Who oversees compliance with Material Safety Data Sheets? -
✔✔✔ Correct Answer > OSHA
A non-exempt employee of a contractor covered by the Fair
Labor Standards Act works 60 hours during a workweek. The
agreement is to pay the employee $400 each week regardless of
VA CONTRACTORS: VA ADVANCED (CLASS A)
EXAM | FREQUENTLY TESTED QUESTIONS
WITH CORRECT ANSWERS | BRAND NEW!
A contractor puts in a claim under a comprehensive standard
general liability policy. The policy has no additional coverage,
riders, or floaters, and has a $500 deductible per occurrence. The
claim is for a job-site accident that caused $2,000 of injuries to
employees, $1,800 of injuries to a pedestrian, $2,300 damage to
the contractor's equipment, and $1,750 loss of project materials
purchased by the contractor. The insurance company is liable
for... - ✔✔✔ Correct Answer > $1,300
Which of the following would typically be covered by a
contractor's comprehensive general liability insurance policy? -
✔✔✔ Correct Answer > Damage to adjoining property from a crane
accident
What is the total gross compensation and employment status for
a carpenter, given the following information? A contractor hires a
carpenter to do the finish work for a 10-home project. The
carpenter is to be paid $16 per hour. The contractor provides all
materials and equipment, such as a table saw. The carpenter
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provides all of his own hand tools. The contractor and the
carpenter agree that all of the homes are to be completed within
60 8-hour working days, without overtime. The contractor
provides the carpenter with a schedule of the order in which
homes are to be worked on. The contractor provides a helper to
assist the carpenter. The contractor sets the work schedule each
day. The carpenter spends 600 hours to complete this project,
including 120 hours of overtime. - ✔✔✔ Correct Answer > The
carpenter is an employee and is owed $10,560 for the project
What is the name of the process when a facilitator meets with
the major participants in a project, prior to the commencement
of the project, to identify the shared goals of all participants? -
✔✔✔ Correct Answer > Partnering
What is the average collection period ratio for a firm that has
$365,000 in annual revenues, $6,600 in current receivables, and
net income of $32,000? - ✔✔✔ Correct Answer > 6.6
Who oversees compliance with Material Safety Data Sheets? -
✔✔✔ Correct Answer > OSHA
A non-exempt employee of a contractor covered by the Fair
Labor Standards Act works 60 hours during a workweek. The
agreement is to pay the employee $400 each week regardless of
