VA Contractors: VA Advanced (Class A) Exam
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Answers Already Graded A+
A contractor pays a workers' compensation rate of $0.08 per $100 of office
employee payroll, $0.15 per $100 of field supervisor payroll, and $0.26 per $100
of field employee payroll. Total office employee payroll for the year is $25,000.
Total field supervisor payroll is $48,000. Total field employee payroll is $225,000.
The contractor receives a discount of 5% of total premiums for having a safety
program in place. The total workers' compensation for the year is... - CORRECT
ANSWER-More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8.
The materials are needed when labor begins on May 11. It is estimated that 15
days of labor are REQUIRED. The crew will work every day, including weekends
and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - CORRECT ANSWER-13
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
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who
notifies the lien agent for a two-family residential property on August 1 that the
subcontractor first provided labor and materials on the project on May 1? The
subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - CORRECT ANSWER-$8,000
What percent should the employer withhold for Virginia withholding for an
employee who is to receive a separate supplemental payment for vacation? The
employer is using a flat percentage rate. - CORRECT ANSWER-5.75%
A cost plus contract calls for the contractor to receive direct costs for labor and
materials, and a markup of 20% of direct costs. The contractor is also to receive a
bound of 15% of savings if total cost to the owner is less than $80,000, and a
bonus of $1,000 per day if the project is completed early. Final costs for direct
labor and materials are $60,000. The project is completed 3 days early. What is
the total amount due to the contractor? - CORRECT ANSWER-Between
$75,001 and $80,000
What would be the total amount of Medicare and Social Security taxes that the
employer should withhold on the last week of the year from an employee who
Newest 2026 Questions and Correct Detailed
Answers Already Graded A+
A contractor pays a workers' compensation rate of $0.08 per $100 of office
employee payroll, $0.15 per $100 of field supervisor payroll, and $0.26 per $100
of field employee payroll. Total office employee payroll for the year is $25,000.
Total field supervisor payroll is $48,000. Total field employee payroll is $225,000.
The contractor receives a discount of 5% of total premiums for having a safety
program in place. The total workers' compensation for the year is... - CORRECT
ANSWER-More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8.
The materials are needed when labor begins on May 11. It is estimated that 15
days of labor are REQUIRED. The crew will work every day, including weekends
and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - CORRECT ANSWER-13
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
What is the MAXIMUM amount of a lien that can claimed by a subcontractor who
notifies the lien agent for a two-family residential property on August 1 that the
subcontractor first provided labor and materials on the project on May 1? The
subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - CORRECT ANSWER-$8,000
What percent should the employer withhold for Virginia withholding for an
employee who is to receive a separate supplemental payment for vacation? The
employer is using a flat percentage rate. - CORRECT ANSWER-5.75%
A cost plus contract calls for the contractor to receive direct costs for labor and
materials, and a markup of 20% of direct costs. The contractor is also to receive a
bound of 15% of savings if total cost to the owner is less than $80,000, and a
bonus of $1,000 per day if the project is completed early. Final costs for direct
labor and materials are $60,000. The project is completed 3 days early. What is
the total amount due to the contractor? - CORRECT ANSWER-Between
$75,001 and $80,000
What would be the total amount of Medicare and Social Security taxes that the
employer should withhold on the last week of the year from an employee who
