RESIDENTIAL BUILDERS SALESPERSON
STUDY GUIDE PRACTICE QUESTIONS WITH
COMPLETE SOLUTIONS 2026 GRADED A+
⩥Both company overhead and project overhead should be accounted for
in a projects estimate.
Answer: True
⩥Salespeople shall not begin selling until they receive their license and
pocket ID card.
Answer: True
⩥A material breach of contract is the most serious of contract breaches.
Answer: True
⩥If a sale was initiated and completed by a salesperson at a person's
home, the customer has a right to cancel that contract within
__________days.
Answer: 3
⩥If a contract is negotiated on the premise of price per square foot of
material installed, this would be a ____________
Answer: Unit Price contract
, ⩥Costs that a contractor incurs such as administrative costs to service
the project while under construction are called _________
Answer: Company Overhead
⩥Company overhead can include
Answer: Office expenses, facility maintenance expense, electrical
expenses
⩥A complete list of all of the materials and items of work that would be
required to complete a project are ____
Answer: Quantity survey (take off)
⩥Can an unlicensed contractor who is required to be licensed impose a
lien against a homeowner?
Answer: No
⩥Public Act 299 provides for licensing and the right to engage in
business as _______
Answer: A salesperson, residential builder, and M&A contractor
⩥If a salesperson doesn't intend to renew their license after it has
expired, do they have to return it to the Department?
Answer: Yes
STUDY GUIDE PRACTICE QUESTIONS WITH
COMPLETE SOLUTIONS 2026 GRADED A+
⩥Both company overhead and project overhead should be accounted for
in a projects estimate.
Answer: True
⩥Salespeople shall not begin selling until they receive their license and
pocket ID card.
Answer: True
⩥A material breach of contract is the most serious of contract breaches.
Answer: True
⩥If a sale was initiated and completed by a salesperson at a person's
home, the customer has a right to cancel that contract within
__________days.
Answer: 3
⩥If a contract is negotiated on the premise of price per square foot of
material installed, this would be a ____________
Answer: Unit Price contract
, ⩥Costs that a contractor incurs such as administrative costs to service
the project while under construction are called _________
Answer: Company Overhead
⩥Company overhead can include
Answer: Office expenses, facility maintenance expense, electrical
expenses
⩥A complete list of all of the materials and items of work that would be
required to complete a project are ____
Answer: Quantity survey (take off)
⩥Can an unlicensed contractor who is required to be licensed impose a
lien against a homeowner?
Answer: No
⩥Public Act 299 provides for licensing and the right to engage in
business as _______
Answer: A salesperson, residential builder, and M&A contractor
⩥If a salesperson doesn't intend to renew their license after it has
expired, do they have to return it to the Department?
Answer: Yes
