NASCLA BUSINESS LATEST QUESTIONS AND SOLUTIONS
GUARANTEE A+
✔✔Of the following types of entities, someone who is looking for maximum protection
from personal liability, will choose? - ✔✔S corporation
✔✔Which of the following is the responsibility of the project site superintendent? -
✔✔Coordinating with subcontractors and others
✔✔What is retainage? - ✔✔A percentage withheld to ensure completion of the
construction project
✔✔How many days do you have to renew your license in North Carolina before your
license becomes invalid? - ✔✔60 days
✔✔Which two types of bonds are required on federal projects over $100,000? -
✔✔Performance and payment bonds
✔✔Which of the following is paid by the employer only? - ✔✔Federal unemployment tax
✔✔Which of the following is an established legal guideline for contracts? - ✔✔Written
agreements prevail, over oral agreements
✔✔A roofing contractor wants to hire some summer help. The summer help should be
at least? - ✔✔18 years old
✔✔If an interim or final payment to a subcontractor is held more than seven days after
interim, or final payment by the contractor or subcontractor, interest begins on the
eighth day at what percent per month? - ✔✔1%
✔✔If a tax payment is due on Thursday, but payment is made on Monday, how many
days is it late and what is the penalty? - ✔✔One day late; 2% penalty. Saturdays and
Sundays are not considered banking days.
✔✔Hey, Contractor's has hand-delivered the lead prenotification pamphlet protect your
family from lead in your home to each family in an old apartment building prior to
performing renovation. How long must confirmation of the receipt of delivery be kept? -
✔✔Three years
✔✔Several liens have been filed against a partially completed subdivision now in
bankruptcy. Following a court order, the remaining property is sold. Who has first claim
rights against the proceeds from the sale? - ✔✔Contractor
, ✔✔And employer has received a citation, but did not correct the problem. For each day
that the violation continues, the employer may be fined how much? - ✔✔$7000
✔✔Under which conditions can a contractor withhold application and certification to the
owner for payment to the subcontractor? - ✔✔Disputed work, unsatisfactory job,
progress, defective construction, not remedied
✔✔When is the last possible date that the employer can provide the W-2 wage and tax
statement to the employee? - ✔✔January 31, 2022 at 12:00 AM
✔✔Which of the following taxes is deducted solely from employees wages? - ✔✔State
income tax
✔✔Under statutory liens on real property, who is entitled to claim lien of property? -
✔✔Any person who furnishes labor or materials
✔✔The complete record of all activities and events at the construction site is called the?
- ✔✔Daily log
✔✔The fair labor standards act defines a work week as a period of how many hours? -
✔✔168 hours during seven consecutive 24 hour periods
✔✔Which type of bond protects the contractor from theft by employees? - ✔✔Fidelity
bond
✔✔North Carolina defines a general contractor as persons, firms, or corporations who
enter into contracts in the amount of blank or more? - ✔✔$30,000
✔✔What are the consequences, if any, if a supervisor, knowingly changes statements
in the injury log? - ✔✔Find of $10,000 or up to six months imprisonment or both
✔✔Which of the following employment practices is covered by the fair labor standards
act? - ✔✔Overtime pay standards
✔✔Who made enforce a contractors lien on real property under perfection of
subrogation rights? - ✔✔A first-tier contractor
✔✔The owner disputes a claim filed by the contractor for additional money and the
claim is not safety related. What is the proper course of action by the contractor? -
✔✔The work must continue
GUARANTEE A+
✔✔Of the following types of entities, someone who is looking for maximum protection
from personal liability, will choose? - ✔✔S corporation
✔✔Which of the following is the responsibility of the project site superintendent? -
✔✔Coordinating with subcontractors and others
✔✔What is retainage? - ✔✔A percentage withheld to ensure completion of the
construction project
✔✔How many days do you have to renew your license in North Carolina before your
license becomes invalid? - ✔✔60 days
✔✔Which two types of bonds are required on federal projects over $100,000? -
✔✔Performance and payment bonds
✔✔Which of the following is paid by the employer only? - ✔✔Federal unemployment tax
✔✔Which of the following is an established legal guideline for contracts? - ✔✔Written
agreements prevail, over oral agreements
✔✔A roofing contractor wants to hire some summer help. The summer help should be
at least? - ✔✔18 years old
✔✔If an interim or final payment to a subcontractor is held more than seven days after
interim, or final payment by the contractor or subcontractor, interest begins on the
eighth day at what percent per month? - ✔✔1%
✔✔If a tax payment is due on Thursday, but payment is made on Monday, how many
days is it late and what is the penalty? - ✔✔One day late; 2% penalty. Saturdays and
Sundays are not considered banking days.
✔✔Hey, Contractor's has hand-delivered the lead prenotification pamphlet protect your
family from lead in your home to each family in an old apartment building prior to
performing renovation. How long must confirmation of the receipt of delivery be kept? -
✔✔Three years
✔✔Several liens have been filed against a partially completed subdivision now in
bankruptcy. Following a court order, the remaining property is sold. Who has first claim
rights against the proceeds from the sale? - ✔✔Contractor
, ✔✔And employer has received a citation, but did not correct the problem. For each day
that the violation continues, the employer may be fined how much? - ✔✔$7000
✔✔Under which conditions can a contractor withhold application and certification to the
owner for payment to the subcontractor? - ✔✔Disputed work, unsatisfactory job,
progress, defective construction, not remedied
✔✔When is the last possible date that the employer can provide the W-2 wage and tax
statement to the employee? - ✔✔January 31, 2022 at 12:00 AM
✔✔Which of the following taxes is deducted solely from employees wages? - ✔✔State
income tax
✔✔Under statutory liens on real property, who is entitled to claim lien of property? -
✔✔Any person who furnishes labor or materials
✔✔The complete record of all activities and events at the construction site is called the?
- ✔✔Daily log
✔✔The fair labor standards act defines a work week as a period of how many hours? -
✔✔168 hours during seven consecutive 24 hour periods
✔✔Which type of bond protects the contractor from theft by employees? - ✔✔Fidelity
bond
✔✔North Carolina defines a general contractor as persons, firms, or corporations who
enter into contracts in the amount of blank or more? - ✔✔$30,000
✔✔What are the consequences, if any, if a supervisor, knowingly changes statements
in the injury log? - ✔✔Find of $10,000 or up to six months imprisonment or both
✔✔Which of the following employment practices is covered by the fair labor standards
act? - ✔✔Overtime pay standards
✔✔Who made enforce a contractors lien on real property under perfection of
subrogation rights? - ✔✔A first-tier contractor
✔✔The owner disputes a claim filed by the contractor for additional money and the
claim is not safety related. What is the proper course of action by the contractor? -
✔✔The work must continue
