VA CONTRACTORS: VA ADVANCED (CLASS A) EXAM PRACTICE 2026|2027
QUESTIONS AND ANSWERS WITH COMPLETE A+ SOLUTIONS!!!
What is the gross pay of a non-exempt employee who works 45 hours during a holiday week, and receives
8 hours additional pay for the holiday? The employee earns $12.50 per hour. - Correct Answer -$693.75
A contractor pays a workers' compensation rate of $0.08 per $100 of office employee payroll, $0.15 per
$100 of field supervisor payroll, and $0.26 per $100 of field employee payroll. Total office employee
payroll for the year is $25,000. Total field supervisor payroll is $48,000. Total field employee payroll is
$225,000. The contractor receives a discount of 5% of total premiums for having a safety program in
place. The total workers' compensation for the year is... - Correct Answer -More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8. The materials are needed
when labor begins on May 11. It is estimated that 15 days of labor are REQUIRED. The crew will work every
day, including weekends and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - Correct Answer -13
A contractor puts in a claim under a comprehensive standard general liability policy. The policy has no
additional coverage, riders, or floaters, and has a $500 deductible per occurrence. The claim is for a job-
site accident that caused $2,000 of injuries to employees, $1,800 of injuries to a pedestrian, $2,300
damage to the contractor's equipment, and $1,750 loss of project materials purchased by the contractor.
The insurance company is liable for... - Correct Answer -$1,300
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, What is the MAXIMUM amount of a lien that can claimed by a subcontractor who notifies the lien agent for
a two-family residential property on August 1 that the subcontractor first provided labor and materials on
the project on May 1? The subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - Correct Answer -$8,000
What percent should the employer withhold for Virginia withholding for an employee who is to receive a
separate supplemental payment for vacation? The employer is using a flat percentage rate. - Correct
Answer -5.75%
A non-exempt employee of a contractor covered by the Fair Labor Standards Act works 60 hours during a
workweek. The agreement is to pay the employee $400 each week regardless of the numbers of hours
worked. What should be the employee's gross pay for the worksheet? - Correct Answer -$700.50
In the previous year, a company had revenues of $500,000 project overhead of $40,000 and company
overhead of $75,000. The company expects the percentage for project and company overhead to remain
the same for the current year. The company desires to make a 10% profit on a project it is bidding. The
project would have $80,000 in direct costs. What should the bid price be? - Correct Answer -Between
$110,000 and $120,000
How much state income tax MUST be paid by a corporation that has $30,000 of Federal taxable income?
The company deducted $2,000 of state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in Virginia. - Correct Answer -$1,080
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QUESTIONS AND ANSWERS WITH COMPLETE A+ SOLUTIONS!!!
What is the gross pay of a non-exempt employee who works 45 hours during a holiday week, and receives
8 hours additional pay for the holiday? The employee earns $12.50 per hour. - Correct Answer -$693.75
A contractor pays a workers' compensation rate of $0.08 per $100 of office employee payroll, $0.15 per
$100 of field supervisor payroll, and $0.26 per $100 of field employee payroll. Total office employee
payroll for the year is $25,000. Total field supervisor payroll is $48,000. Total field employee payroll is
$225,000. The contractor receives a discount of 5% of total premiums for having a safety program in
place. The total workers' compensation for the year is... - Correct Answer -More than $600
A permit is obtained on Friday, May 1. The materials are to be delivered May 8. The materials are needed
when labor begins on May 11. It is estimated that 15 days of labor are REQUIRED. The crew will work every
day, including weekends and holidays. The project is scheduled to be completed on June 8. How many float
days are available for the labor for this project? - Correct Answer -13
A contractor puts in a claim under a comprehensive standard general liability policy. The policy has no
additional coverage, riders, or floaters, and has a $500 deductible per occurrence. The claim is for a job-
site accident that caused $2,000 of injuries to employees, $1,800 of injuries to a pedestrian, $2,300
damage to the contractor's equipment, and $1,750 loss of project materials purchased by the contractor.
The insurance company is liable for... - Correct Answer -$1,300
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, What is the MAXIMUM amount of a lien that can claimed by a subcontractor who notifies the lien agent for
a two-family residential property on August 1 that the subcontractor first provided labor and materials on
the project on May 1? The subcontractor billed the general contractor for $4,000 per month, through
September 30, and was never paid. - Correct Answer -$8,000
What percent should the employer withhold for Virginia withholding for an employee who is to receive a
separate supplemental payment for vacation? The employer is using a flat percentage rate. - Correct
Answer -5.75%
A non-exempt employee of a contractor covered by the Fair Labor Standards Act works 60 hours during a
workweek. The agreement is to pay the employee $400 each week regardless of the numbers of hours
worked. What should be the employee's gross pay for the worksheet? - Correct Answer -$700.50
In the previous year, a company had revenues of $500,000 project overhead of $40,000 and company
overhead of $75,000. The company expects the percentage for project and company overhead to remain
the same for the current year. The company desires to make a 10% profit on a project it is bidding. The
project would have $80,000 in direct costs. What should the bid price be? - Correct Answer -Between
$110,000 and $120,000
How much state income tax MUST be paid by a corporation that has $30,000 of Federal taxable income?
The company deducted $2,000 of state and local taxes on the Federal return, and had $2,000 of qualified
worker retraining expenses. The corporation does business ONLY in Virginia. - Correct Answer -$1,080
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