Florida Building Contractor
Business/Finance Study Exam
1. How many personnel ought to an enterprise have before he have to observe for workers
repayment insurance? - ANS-1 or more
2. The maximum vital element to don't forget when bidding is: - ANS-Profit
3. What does the acronym GAAP represent in accounting? - ANS-Generally Accepted
Accounted Principles
four. If I fail one or more portions of the examination, do I ought to retake all components
again? - ANS-No, best the checks on which he or she did not reap a passing score
5. In order to reap a constructing allow the subsequent is needed: - ANS-Filling out an
application
6. When are you able to permit your employee to view their private document? -
ANS-Whenever they desire to
7. A price bond would be published by using the: - ANS-Prime contractor or property
proprietor
eight. How long when I pass the examinations do I have to follow for Initial Licensure? -
ANS-Four years
9. Are contractors required to qualify a construction enterprise? - ANS-Yes
10. A charge bond ensures that the bonding organization pays legitimate claims for unpaid
payments owed by way of the ______ posting the bond. - ANS-Prime contractor or assets
owner
eleven. Before the completion of labor the individual that authorizes a transient certificate of
__________ is the constructing legitimate. - ANS-Occupancy
12. Majority for the negotiated production contracts are on a ________ basis. - ANS-Cost
plus price
thirteen. What ought to a contractor do to prevent cash flow issues on the stop of a
production mission? - ANS-Obtain a line of credit score from a financial institution
14. What need to be completed with the contractors IRS shape W-2? - ANS-File a duplicate
in the contractor's office
, 15. By regulation, your employees won't be more youthful than ______ of age. - ANS-16
sixteen. Business fairness is shown at the monetary statement called teh: - ANS-Balance
Sheet
17. State incapacity and earnings taxes have to be: - ANS-Reported and paid quarterly
18. The best purpose an enterprise can lawfully deny employment is _________. - ANS-No
paintings experience or social safety quantity
19. You are accredited _______ attempts within four years from the date of the preliminary
licensure examination to pass all portions of the examinations. - ANS-Four years
20. The simplest time a contractor does not need to be licensed is that if: - ANS-If you're
running on a minor mission and no longer compensated
21. When is the quality time to let your attorney see your production settlement? - ANS-After
the contract is prepared however earlier than you signal it
22. Is repayment payable if an worker refuses to apply a protection equipment like a hard
hat, safety goggles or take a look at a protection rule? - ANS-Yes, however the blessings can
be decreased by means of 25%
23. One cause why a contractor keeps alternate order on report is: - ANS-By regulation
24. Which shape authorizes a contractor to proceed with paintings until a formal alternate
order may be processed? - ANS-Field Order
25. Under the Worker's Compensation Drug-Free Workplace Program, can a Contractor
conduct random drug trying out of his/her personnel? - ANS-The regulation does no longer
restrict a personal organisation from accomplishing random testing or every other lawful
testing of employees
26. A permit is required from OSHA for trenches which can be ______ or more in depth. -
ANS-5 toes
27. In a fee-incentive settlement, the most commonplace percentage of savings provided to
a contractor is _______ percentage? - ANS-50%
28. What if an worker refuses to take a drug check? - ANS-The corporation is permitted to
discharge or area the employee or may refuse to hire the applicant
29. The Federal agency that problems an Employer Identification Number is: - ANS-IRS
30. In creation contracts, extensions of time are formalized by means of a report called: -
ANS-Change order
Business/Finance Study Exam
1. How many personnel ought to an enterprise have before he have to observe for workers
repayment insurance? - ANS-1 or more
2. The maximum vital element to don't forget when bidding is: - ANS-Profit
3. What does the acronym GAAP represent in accounting? - ANS-Generally Accepted
Accounted Principles
four. If I fail one or more portions of the examination, do I ought to retake all components
again? - ANS-No, best the checks on which he or she did not reap a passing score
5. In order to reap a constructing allow the subsequent is needed: - ANS-Filling out an
application
6. When are you able to permit your employee to view their private document? -
ANS-Whenever they desire to
7. A price bond would be published by using the: - ANS-Prime contractor or property
proprietor
eight. How long when I pass the examinations do I have to follow for Initial Licensure? -
ANS-Four years
9. Are contractors required to qualify a construction enterprise? - ANS-Yes
10. A charge bond ensures that the bonding organization pays legitimate claims for unpaid
payments owed by way of the ______ posting the bond. - ANS-Prime contractor or assets
owner
eleven. Before the completion of labor the individual that authorizes a transient certificate of
__________ is the constructing legitimate. - ANS-Occupancy
12. Majority for the negotiated production contracts are on a ________ basis. - ANS-Cost
plus price
thirteen. What ought to a contractor do to prevent cash flow issues on the stop of a
production mission? - ANS-Obtain a line of credit score from a financial institution
14. What need to be completed with the contractors IRS shape W-2? - ANS-File a duplicate
in the contractor's office
, 15. By regulation, your employees won't be more youthful than ______ of age. - ANS-16
sixteen. Business fairness is shown at the monetary statement called teh: - ANS-Balance
Sheet
17. State incapacity and earnings taxes have to be: - ANS-Reported and paid quarterly
18. The best purpose an enterprise can lawfully deny employment is _________. - ANS-No
paintings experience or social safety quantity
19. You are accredited _______ attempts within four years from the date of the preliminary
licensure examination to pass all portions of the examinations. - ANS-Four years
20. The simplest time a contractor does not need to be licensed is that if: - ANS-If you're
running on a minor mission and no longer compensated
21. When is the quality time to let your attorney see your production settlement? - ANS-After
the contract is prepared however earlier than you signal it
22. Is repayment payable if an worker refuses to apply a protection equipment like a hard
hat, safety goggles or take a look at a protection rule? - ANS-Yes, however the blessings can
be decreased by means of 25%
23. One cause why a contractor keeps alternate order on report is: - ANS-By regulation
24. Which shape authorizes a contractor to proceed with paintings until a formal alternate
order may be processed? - ANS-Field Order
25. Under the Worker's Compensation Drug-Free Workplace Program, can a Contractor
conduct random drug trying out of his/her personnel? - ANS-The regulation does no longer
restrict a personal organisation from accomplishing random testing or every other lawful
testing of employees
26. A permit is required from OSHA for trenches which can be ______ or more in depth. -
ANS-5 toes
27. In a fee-incentive settlement, the most commonplace percentage of savings provided to
a contractor is _______ percentage? - ANS-50%
28. What if an worker refuses to take a drug check? - ANS-The corporation is permitted to
discharge or area the employee or may refuse to hire the applicant
29. The Federal agency that problems an Employer Identification Number is: - ANS-IRS
30. In creation contracts, extensions of time are formalized by means of a report called: -
ANS-Change order
