Virginia HIC Exam | Actual Questions and
Answers | 100% Correct (Verified)
• All Class A contractor licensure applications MUST include -✓✓information on
the knowledge, skills, and abilities of the applicant.
• What is the PRIMARY purpose of licensing? -✓✓Protect the health and welfare
of the public.
• When a claimant is paid funds from the Contractors Recovery Trust Fund -✓✓the
contractor's license is revoked. !!!
• The application for licensure MUST include -✓✓the business address of the
proposed designated employee.
• Which of the following is a requirement for a joint venture? -✓✓Either the joint
venture or each contracting party of the joint venture must be licensed.
• All of the following must be licensed EXCEPT -✓✓a material supplier who
advises a contractor.
• How much is the Class A initial license fee? -✓✓$200
• A licensee's name change MUST be reported to the Board within a MAXIMUM
of how many days? -✓✓30 days
• 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.
• A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM
net worth of -✓✓$15,000.
• According to the Board Rules and Regulations, which of the following could be a
qualified individual? -✓✓Any full-time employee.
,• An appeal of the local building official's decision to refuse to grant a modification
to the USBC MUST be made to the local building board within a MAXIMUM of
how many days? -✓✓90 days.
• 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
• Additions to buildings MUST comply with -✓✓the current code for new
construction.
• When MUST the work be stopped following the issuance of a stop work order? -
✓✓Immediately
• Who is to be in charge of a local building department? -✓✓Building official.
• 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? -✓✓45 days
• Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the fund balance is less than -✓✓$400,000.
• Payments made by the Transaction Recovery Fund to claimants may include an
amount for -✓✓attorneys' fees.
• A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund? -✓✓Residential only.
• 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.
• An appeal of a final decision of a county on an erosion control plan MUST be
filed within a MAXIMUM of how many days? -✓✓30 days.
• Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? -✓✓30 days.
, • Which of the following statements about a sole proprietorship is TRUE? -✓✓The
business, or any part of it, can be sold, altered, or exchanged at will.
• What type of business organization allows people to share financial resources? -
✓✓Partnership.
• Which of the following estimating methods is typically used by the architect
rather than the contractor? -✓✓Conceptual estimate.
• Equipment needs for a project are BEST estimated by -✓✓calculating the number
of hours or days it is needed.
• What should be added to wage rates to ensure accuracy in estimating labor for a
project? -✓✓Labor burden.
• A reason for using a lower than usual profit markup for a specific project could
be to -✓✓cover company overhead costs.
• Which of the following is a TRUE statement about estimating? -✓✓Both
overestimating and underestimating costs could have disastrous consequences.
• A contractor should do all of the following when estimating a project EXCEPT -
✓✓assume ideal conditions
• What MUST be included in an estimate for a job? -✓✓Materials, labor,
equipment, and overhead costs.
• Costs that relate to construction activity but are NOT easily identifiable for a
specific project are considered -✓✓project overhead.
• All of the following are considered general conditions that could affect costs
directly associated with a specific project EXCEPT -✓✓profit margin
• The two basic laws of construction estimating are -✓✓low estimates decrease
profits and high estimates decrease volume.
Answers | 100% Correct (Verified)
• All Class A contractor licensure applications MUST include -✓✓information on
the knowledge, skills, and abilities of the applicant.
• What is the PRIMARY purpose of licensing? -✓✓Protect the health and welfare
of the public.
• When a claimant is paid funds from the Contractors Recovery Trust Fund -✓✓the
contractor's license is revoked. !!!
• The application for licensure MUST include -✓✓the business address of the
proposed designated employee.
• Which of the following is a requirement for a joint venture? -✓✓Either the joint
venture or each contracting party of the joint venture must be licensed.
• All of the following must be licensed EXCEPT -✓✓a material supplier who
advises a contractor.
• How much is the Class A initial license fee? -✓✓$200
• A licensee's name change MUST be reported to the Board within a MAXIMUM
of how many days? -✓✓30 days
• 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.
• A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM
net worth of -✓✓$15,000.
• According to the Board Rules and Regulations, which of the following could be a
qualified individual? -✓✓Any full-time employee.
,• An appeal of the local building official's decision to refuse to grant a modification
to the USBC MUST be made to the local building board within a MAXIMUM of
how many days? -✓✓90 days.
• 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
• Additions to buildings MUST comply with -✓✓the current code for new
construction.
• When MUST the work be stopped following the issuance of a stop work order? -
✓✓Immediately
• Who is to be in charge of a local building department? -✓✓Building official.
• 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? -✓✓45 days
• Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the fund balance is less than -✓✓$400,000.
• Payments made by the Transaction Recovery Fund to claimants may include an
amount for -✓✓attorneys' fees.
• A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund? -✓✓Residential only.
• 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.
• An appeal of a final decision of a county on an erosion control plan MUST be
filed within a MAXIMUM of how many days? -✓✓30 days.
• Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? -✓✓30 days.
, • Which of the following statements about a sole proprietorship is TRUE? -✓✓The
business, or any part of it, can be sold, altered, or exchanged at will.
• What type of business organization allows people to share financial resources? -
✓✓Partnership.
• Which of the following estimating methods is typically used by the architect
rather than the contractor? -✓✓Conceptual estimate.
• Equipment needs for a project are BEST estimated by -✓✓calculating the number
of hours or days it is needed.
• What should be added to wage rates to ensure accuracy in estimating labor for a
project? -✓✓Labor burden.
• A reason for using a lower than usual profit markup for a specific project could
be to -✓✓cover company overhead costs.
• Which of the following is a TRUE statement about estimating? -✓✓Both
overestimating and underestimating costs could have disastrous consequences.
• A contractor should do all of the following when estimating a project EXCEPT -
✓✓assume ideal conditions
• What MUST be included in an estimate for a job? -✓✓Materials, labor,
equipment, and overhead costs.
• Costs that relate to construction activity but are NOT easily identifiable for a
specific project are considered -✓✓project overhead.
• All of the following are considered general conditions that could affect costs
directly associated with a specific project EXCEPT -✓✓profit margin
• The two basic laws of construction estimating are -✓✓low estimates decrease
profits and high estimates decrease volume.
