VA CONTRACTORS STUDY SHEET 2026
EXAM QUESTIONS AND ANSWERS EXPERT
VERIFIED
◉Which of the following is included in the project overhead?
a) advertising costs
b) equipment rentals
c) material delivery charges
d) supervisor salaries. Answer: d) supervisor salaries
◉Bids should prepare for
a) only projects with a request for bid.
b) all projects with a scope of work similar to that typically
performed by the company
c) only those projects whose general conditions are similar to those
on projects previously performed by the company
d) only those projects on which the company can be competitive
with other bidders.. Answer: all projects with a scope of work
similar to that typically performed by the company
,◉Which of the following is an advantage of a sole proprietorship?.
Answer: The business can be sold at will
◉What has been the approximate average profit margin in the
construction industry in the past several years?. Answer: 15%
◉An advantage of keeping inventory levels as low as possible is.
Answer: minimizing working capital needs
◉The typical result of including a higher than usual markup for a
profit in estimates is. Answer: fewer bids awarded
◉Company overhead rates included in an estimate should be based
on. Answer: historical data and business projections
◉Changes to the plans and specifications made before bids are due
are called
a) change orders
b) alternates
c) addenda
d) submittals. Answer: c) addenda
, ◉The general rule of law for interpreting an ambiguous provision of
a contract is that it is
a) interpreted against the party who wrote it
b) not bidding
c) interpreted against the owner
d) interpreted against the contractor. Answer: a) interpreted against
the party who wrote it
◉Fast-track construction typically includes. Answer: multiple prime
contractors
◉An offer should typically include all of the following EXCEPT the
a) Progress payment
b) Completion date.
c) Names of the subcontractors.
d) List of services to be included. Answer: c) names of
subcontractors
◉Which of the following is included in the company overhead, or
general administrative (G& A)?
EXAM QUESTIONS AND ANSWERS EXPERT
VERIFIED
◉Which of the following is included in the project overhead?
a) advertising costs
b) equipment rentals
c) material delivery charges
d) supervisor salaries. Answer: d) supervisor salaries
◉Bids should prepare for
a) only projects with a request for bid.
b) all projects with a scope of work similar to that typically
performed by the company
c) only those projects whose general conditions are similar to those
on projects previously performed by the company
d) only those projects on which the company can be competitive
with other bidders.. Answer: all projects with a scope of work
similar to that typically performed by the company
,◉Which of the following is an advantage of a sole proprietorship?.
Answer: The business can be sold at will
◉What has been the approximate average profit margin in the
construction industry in the past several years?. Answer: 15%
◉An advantage of keeping inventory levels as low as possible is.
Answer: minimizing working capital needs
◉The typical result of including a higher than usual markup for a
profit in estimates is. Answer: fewer bids awarded
◉Company overhead rates included in an estimate should be based
on. Answer: historical data and business projections
◉Changes to the plans and specifications made before bids are due
are called
a) change orders
b) alternates
c) addenda
d) submittals. Answer: c) addenda
, ◉The general rule of law for interpreting an ambiguous provision of
a contract is that it is
a) interpreted against the party who wrote it
b) not bidding
c) interpreted against the owner
d) interpreted against the contractor. Answer: a) interpreted against
the party who wrote it
◉Fast-track construction typically includes. Answer: multiple prime
contractors
◉An offer should typically include all of the following EXCEPT the
a) Progress payment
b) Completion date.
c) Names of the subcontractors.
d) List of services to be included. Answer: c) names of
subcontractors
◉Which of the following is included in the company overhead, or
general administrative (G& A)?
