Florida Contractor License Business and finance study guide 1| Answered 100% correctly| Latest Update

Florida Contractor License Business and finance study guide 1| Answered 100% correctly| Latest Update Workers' Comp insurance must be provided for all, EXCEPT a Ref: FCM 6-7 Domestic worker 3 multiple choice options A registered contractor may apply for " grandfathering " as a certified contractor after _______ years of experience. Ref: FCM 2-14, 2-76, 2-138 5 3 multiple choice options When making a business plan to start up a business, it is important to know who and where the _______ are. Ref: Trade Knowledge Competitors 3 multiple choice options having received the list of subcontractors, the architect immediately objects to the use of plumber X's company. The general contractor promptly proposes using plumper Y's company at a higher cost of $5,000. What is the general contractor entitled to? Ref: AIA A201 - 5.2.3 $5,000 plus a proved time extension 3 multiple choice options If one of your workers is found to be an employee and not an independent contractor, which of the following may the IRS determine you are liable to pay? Ref: FCM 2-24, 2-25 FICA and income tax 3 multiple choice options When looking at a business plan and deciding on what type of organization to form, a partnership has which of the following disadvantages? Ref: FCM 1-10 fringe benefits are not usually tax deductible 3 multiple choice options Assistance in identifying sources of available business financing could be obtained from the Ref: BGA 318 Small business administration 3 multiple choice options When evaluating an offered job, it is necessary to be able to calculate all costs, including _______, to determine if it will be profitable. Ref: Trade Knowledge / BGA 227 man-hours 3 multiple choice options A builder hires a plumbing contractor to perform the plumbing work on a new residential dwelling. The plumbing contractor completes the work, but does not receive payment from the builder. The plumbing contractor records a claim of lien in the public records. How much time after the claim of lien was recorded does he have to commence an action to enforce the construction lien? Ref: FCM 9-31, 9-86 within 1 year 3 multiple choice options According to Florida Reemployment Assistance Program Law, reports MUST be submitted FCM 5-278, 5-287, 5-288 Quarterly 3 multiple choice options What undesirable trait would be reveled when checking into an applicant's past? Ref: Trade Knowledge chronic insurance 3 multiple choice options What entity issues or underwrites bonds Ref: FCM 4-12 / Trade Knowledge surety 3 multiple choice options A tool purchase is a variable overhead expense unless it is