AZ Contractor's BME (Business
Management Exam) Prep Questions and
Correct Answers 2026-2027
What document must be filed when registering an Arizona Limited Partnership? -
CORRECT ANSWER -Certificate of Limited Partnership
How many days do you have to publish the 'Articles of Incorporation' after having filed the
'Articles of Incorporation' with the Arizona Corporate Commission? - CORRECT ANSWER -
60 Days
When reserving a trade name (also known as a DBA), a corporate (legal business name of a
corporation) name may reserved prior to incorporation for how many days? -
CORRECT ANSWER -120 days
What entity cannot change a name on a contractor's license? - CORRECT ANSWER -
Qualifying Party
What does Builder's risk insurance protect? - CORRECT ANSWER -
Construction Property (Also fixures & labor costs in some instances)
What does Comprehensive Liability Insurance not cover? - CORRECT ANSWER -
Contractor's vehicles & employees
If a contractor refuses to work on a job bid that was offered to them, what will happen as
a result? - CORRECT ANSWER -The contract will be void & the situation will end in litigation
What form is used to reports & pay quarterly unemployment taxes to the Arizona Departm
ent of Economic Security? - CORRECT ANSWER -A1-R
Management Exam) Prep Questions and
Correct Answers 2026-2027
What document must be filed when registering an Arizona Limited Partnership? -
CORRECT ANSWER -Certificate of Limited Partnership
How many days do you have to publish the 'Articles of Incorporation' after having filed the
'Articles of Incorporation' with the Arizona Corporate Commission? - CORRECT ANSWER -
60 Days
When reserving a trade name (also known as a DBA), a corporate (legal business name of a
corporation) name may reserved prior to incorporation for how many days? -
CORRECT ANSWER -120 days
What entity cannot change a name on a contractor's license? - CORRECT ANSWER -
Qualifying Party
What does Builder's risk insurance protect? - CORRECT ANSWER -
Construction Property (Also fixures & labor costs in some instances)
What does Comprehensive Liability Insurance not cover? - CORRECT ANSWER -
Contractor's vehicles & employees
If a contractor refuses to work on a job bid that was offered to them, what will happen as
a result? - CORRECT ANSWER -The contract will be void & the situation will end in litigation
What form is used to reports & pay quarterly unemployment taxes to the Arizona Departm
ent of Economic Security? - CORRECT ANSWER -A1-R
