1|Page
Nevada (NV) CMS Contractor Management Survey
Exam||Verified Questions and Correct Answers with
EXPLANATIONS LATEST UPDATE.pdf
What summarizes profit making activities over a specific
period of time?
a. Profit & Loss schedule
b. Critical Path schedule
c. Cash Disbursement Schedule
d. Cash Flow Schedule - Answer-Profit & Loss schedule
What a general building contractor does not need to tell a
customer with they have a contract?
a. names of his sub contractors
b. names of material suppliers
c. answers a &b are correct
d. names of individual laborers on the project - Answer-
names of individual laborers on the project
The disadvantage of cash basis accounting versus accrual
basis accounting is what?
,2|Page
a. the cash basis will show what had been collected and
paid out, but not what has been earned
b. nothing
c. the cash basis is easiest form to maintain
d. cash basis records income when money is recieved -
Answer-the cash basis will show what had been collected
and paid out, but not what has been earned
The term week in the FLSA is defined as what?
a. 40 hours
b. 168 hours
c. whatever the employer sets it as
d. any of the above - Answer-168 hours
Youths age _____ may perform any nonhazardous job, for
unlimited hours.
a. 18
b. 19
c. 20
d. 16 and 17 - Answer-16 and 17
,3|Page
Violators of child labor law provisions are subject to civil
penalty of up to ______ each employee subject to
violation?
a. $11,000
b. $1,000
c. $5,000
d. $70,000 - Answer-$11,000
You have _____ days to replace a qualified employee.
a. 10
b. 30
c. 60
d. 90 - Answer-30
Which of the following is included in company overhead?
a.Advertising
b. Equipment
c. Project Payroll
d. Supervisor salary - Answer-Advertising
A quorum shall consist of _____ members of the Nevada
State Contractors Board.
, 4|Page
a. 3
b. 4
c. 5
d. 7 - Answer-4
A death must be reported to OSHA within ______.
a. 1 hour
b. 8 hours
c. 24 hours
d. 3 days - Answer-8 hours
The simplest form o business organization is:
a. sole prop.
b. partnership
c. corporation
d. LLC - Answer-sole prop.
According to the FLSA, a workweek is a period of ____
hours.
a. 40
Nevada (NV) CMS Contractor Management Survey
Exam||Verified Questions and Correct Answers with
EXPLANATIONS LATEST UPDATE.pdf
What summarizes profit making activities over a specific
period of time?
a. Profit & Loss schedule
b. Critical Path schedule
c. Cash Disbursement Schedule
d. Cash Flow Schedule - Answer-Profit & Loss schedule
What a general building contractor does not need to tell a
customer with they have a contract?
a. names of his sub contractors
b. names of material suppliers
c. answers a &b are correct
d. names of individual laborers on the project - Answer-
names of individual laborers on the project
The disadvantage of cash basis accounting versus accrual
basis accounting is what?
,2|Page
a. the cash basis will show what had been collected and
paid out, but not what has been earned
b. nothing
c. the cash basis is easiest form to maintain
d. cash basis records income when money is recieved -
Answer-the cash basis will show what had been collected
and paid out, but not what has been earned
The term week in the FLSA is defined as what?
a. 40 hours
b. 168 hours
c. whatever the employer sets it as
d. any of the above - Answer-168 hours
Youths age _____ may perform any nonhazardous job, for
unlimited hours.
a. 18
b. 19
c. 20
d. 16 and 17 - Answer-16 and 17
,3|Page
Violators of child labor law provisions are subject to civil
penalty of up to ______ each employee subject to
violation?
a. $11,000
b. $1,000
c. $5,000
d. $70,000 - Answer-$11,000
You have _____ days to replace a qualified employee.
a. 10
b. 30
c. 60
d. 90 - Answer-30
Which of the following is included in company overhead?
a.Advertising
b. Equipment
c. Project Payroll
d. Supervisor salary - Answer-Advertising
A quorum shall consist of _____ members of the Nevada
State Contractors Board.
, 4|Page
a. 3
b. 4
c. 5
d. 7 - Answer-4
A death must be reported to OSHA within ______.
a. 1 hour
b. 8 hours
c. 24 hours
d. 3 days - Answer-8 hours
The simplest form o business organization is:
a. sole prop.
b. partnership
c. corporation
d. LLC - Answer-sole prop.
According to the FLSA, a workweek is a period of ____
hours.
a. 40
