MHIC NASCLA CONTRACTORS
CERTIFICATION PAPER 2026 FULL
SOLUTION GRADED A+
● Which of the following is important to consider in order to avoid
inaccuracies when making an accurate project estimate?
A) Units of measure
B) Time involved
C) Overhead Costs
D) Productivity time Answer: A) Units of measure
- Bus Law & Proj Mgmt pg 6-8
● A crucial drawback of a ________ is double taxation. Answer: C Corp
● Class B fires are flammable liquids and require a special type of
extinguisher to control them. Which of the following are considered
Class B Extinguishers?
A) Foam
B) Carbon Dioxide
C) Dry chemical
D) All of the above Answer: D)
- OSHA 1926.150 Table F-, pg 213
,● Form _______ is mandatory to be assigned as an S Corporation.
Answer: Form 2553, know as the sub chapter S election. Filing this form
can be used to convert a C Corp to and S Corp
- Bus Law & Proj Mgmt pg 2-7
● _________ insurance will protect against movable machinery left at
the location or while being transported. Answer: Equipment Floater
● Class ____ fires are considered ordinary combustibles.
A) A
B) B
C) C
D) D Answer: A) Class A
- OSHA 1926.150 Table F-1, pg 213
● A _____ bond promises the person building will complete the job for
the amount quoted, will sign the agreement and will provide _____ and
_____ bond. Answer: Bid bond, Performance and Payment
- Bus Law & Proj Mgmt pg 4-8
● A ______ bond guarantees the owner that the contract work will be
completed according to its terms including price and time. Answer:
Performance bond
, - Bus Law & Proj Mgmt pg 4-8
● The Miller Act calls for ______ and ______ bonds for all Federal
projects costing more than $100,000. Answer: Performance and Payment
bonds
- Bus Law & Proj Mgmt pg 4-9
● A _______ bond promises to subcontractors and vendors they will be
compensated for their efforts and materials. Answer: Payment bond
- Bus Law & Proj Mgmt pg 4-9
● There are _____ parts of a contract Answer: 4 parts - Offer and
Acceptance
- Consideration
- Competent Parties
- Legal Purpose
● What is the primary advantage of a design/bid/build delivery method?
Answer: Known project cost before construction
- Const Proj Mgmt pg 102 & 256
● Which of the following are considered Project Closeout phase
documents?
A) Certificate of substantial completion
CERTIFICATION PAPER 2026 FULL
SOLUTION GRADED A+
● Which of the following is important to consider in order to avoid
inaccuracies when making an accurate project estimate?
A) Units of measure
B) Time involved
C) Overhead Costs
D) Productivity time Answer: A) Units of measure
- Bus Law & Proj Mgmt pg 6-8
● A crucial drawback of a ________ is double taxation. Answer: C Corp
● Class B fires are flammable liquids and require a special type of
extinguisher to control them. Which of the following are considered
Class B Extinguishers?
A) Foam
B) Carbon Dioxide
C) Dry chemical
D) All of the above Answer: D)
- OSHA 1926.150 Table F-, pg 213
,● Form _______ is mandatory to be assigned as an S Corporation.
Answer: Form 2553, know as the sub chapter S election. Filing this form
can be used to convert a C Corp to and S Corp
- Bus Law & Proj Mgmt pg 2-7
● _________ insurance will protect against movable machinery left at
the location or while being transported. Answer: Equipment Floater
● Class ____ fires are considered ordinary combustibles.
A) A
B) B
C) C
D) D Answer: A) Class A
- OSHA 1926.150 Table F-1, pg 213
● A _____ bond promises the person building will complete the job for
the amount quoted, will sign the agreement and will provide _____ and
_____ bond. Answer: Bid bond, Performance and Payment
- Bus Law & Proj Mgmt pg 4-8
● A ______ bond guarantees the owner that the contract work will be
completed according to its terms including price and time. Answer:
Performance bond
, - Bus Law & Proj Mgmt pg 4-8
● The Miller Act calls for ______ and ______ bonds for all Federal
projects costing more than $100,000. Answer: Performance and Payment
bonds
- Bus Law & Proj Mgmt pg 4-9
● A _______ bond promises to subcontractors and vendors they will be
compensated for their efforts and materials. Answer: Payment bond
- Bus Law & Proj Mgmt pg 4-9
● There are _____ parts of a contract Answer: 4 parts - Offer and
Acceptance
- Consideration
- Competent Parties
- Legal Purpose
● What is the primary advantage of a design/bid/build delivery method?
Answer: Known project cost before construction
- Const Proj Mgmt pg 102 & 256
● Which of the following are considered Project Closeout phase
documents?
A) Certificate of substantial completion
