License EXAM Latest UPDATE
Questions & Verified Answers {Grade A}
What happens if an applicant fails to comply with 8 U.S.C. § 1324a during their license
term? - Correct answer It may result in a fine, suspension, revocation of the license, or
denial of renewal.
What payroll tax payments must an applicant represent they are making? - Correct
answer Social Security taxes, Medicare taxes, and state and federal unemployment
taxes.
What are the consequences of failing to make required payroll tax payments during the
license term? - Correct answer It may lead to a fine, suspension, revocation of the
license, or denial of renewal.
,What is the standard term length for licenses, except temporary licenses? - Correct
answer Two years from the date of issuance.
When do licenses expire? - Correct answer On the last day of the 24th month of
issuance.
What is the renewal period for licenses? - Correct answer Subsequent renewals shall
also be for periods of two years.
What happens if a license renewal application is not made before the expiration date? -
Correct answer The license becomes null and void on the expiration date.
What must a licensee do to renew their license? - Correct answer They must comply
with the provisions of the section and ensure the license has not been suspended or
revoked prior to expiration.
,What is the status of a license if an individual licensee enters the Armed Forces? -
Correct answer The license continues in force until six months after the termination of
the first enlistment.
What happens to a license if the licensee dies? - Correct answer The license
terminates upon the death of the individual holder.
Under what conditions can a license be assigned or transferred? - Correct answer It
can be assigned or transferred to a partnership, corporation, or other entity if the
individual is a general partner or holds a significant ownership interest.
What must accompany an application for license transfer or assignment? - Correct
answer Evidence satisfactory to the Director that the requirements for transfer or
assignment have been met.
, What is required for a license transfer or assignment to become effective? - Correct
answer Proper endorsement by the Director on the license and payment of a $25 fee.
Where must a license issued pursuant to this chapter be posted? - Correct answer It
must be conspicuously posted in the place of business of the licensee.
What must a licensee do within seven business days after a change of control of
ownership or management? - Correct answer They must apply for the assignment or
transfer of the license or it shall terminate.
What notification is required after a change of address or trade name? - Correct
answer The licensee must notify the Office in writing within seven business days.