Page 1 of 173
Virginia Class B General Contractor License Exam
QUESTIONS AND VERIFIED ANSWERS LATEST
UPDATE THIS YEAR
Virginia Class B General Contractor License Exam,
LICENSING REQUIREMENTS & CLASSIFICATIONS (1-50)
1. A contractor performing a project valued at $85,000 with $600,000 in annual gross revenue
requires which license class?
• A) Class A license
• B) Class B license
• C) Class C license
• D) Tradesman license only
• Answer: B
• Rationale: Class B contractors are limited to projects up to $120,000 per job and
$750,000 in annual gross revenue .
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2. Which of the following is a required characteristic of a designated employee for a Class B
contractor license?
• A) At least 21 years old
• B) Part-time employee of the firm
• C) At least 18 years old and a full-time employee
• D) Must own at least 51% of the company
• Answer: C
• Rationale: The designated employee must be at least 18 years old and a full-time
employee of the firm or a member of responsible management .
3. A firm applying for a Class B license must demonstrate a minimum net worth of:
• A) $5,000
• B) $10,000
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• C) $15,000
• D) $50,000
• Answer: C
• Rationale: Excluding any property owned as tenants by the entirety, the firm must state
a net worth or equity of $15,000 or more .
4. How many years of experience must a qualified individual have in the classification for which
they are the qualifier?
• A) 1 year
• B) 2 years
• C) 3 years
• D) 5 years
• Answer: C
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• Rationale: The qualified individual must have a minimum of three years of experience in
the classification or specialty for which they are the qualifier .
5. Which of the following is an acceptable alternative to meeting the net worth requirement for
a Class B license?
• A) Personal guarantee from the owner
• B) $50,000 surety bond
• C) $100,000 liability insurance policy
• D) Letter of credit from any bank
• Answer: B
• Rationale: In lieu of the net worth requirement, a firm may obtain a $50,000 surety
bond on the board's bond form .
6. If a designated employee leaves the full-time employ of a licensed contractor, the contractor
must provide the name of a new designated employee within how many days?
Virginia Class B General Contractor License Exam
QUESTIONS AND VERIFIED ANSWERS LATEST
UPDATE THIS YEAR
Virginia Class B General Contractor License Exam,
LICENSING REQUIREMENTS & CLASSIFICATIONS (1-50)
1. A contractor performing a project valued at $85,000 with $600,000 in annual gross revenue
requires which license class?
• A) Class A license
• B) Class B license
• C) Class C license
• D) Tradesman license only
• Answer: B
• Rationale: Class B contractors are limited to projects up to $120,000 per job and
$750,000 in annual gross revenue .
, Page 2 of 173
2. Which of the following is a required characteristic of a designated employee for a Class B
contractor license?
• A) At least 21 years old
• B) Part-time employee of the firm
• C) At least 18 years old and a full-time employee
• D) Must own at least 51% of the company
• Answer: C
• Rationale: The designated employee must be at least 18 years old and a full-time
employee of the firm or a member of responsible management .
3. A firm applying for a Class B license must demonstrate a minimum net worth of:
• A) $5,000
• B) $10,000
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• C) $15,000
• D) $50,000
• Answer: C
• Rationale: Excluding any property owned as tenants by the entirety, the firm must state
a net worth or equity of $15,000 or more .
4. How many years of experience must a qualified individual have in the classification for which
they are the qualifier?
• A) 1 year
• B) 2 years
• C) 3 years
• D) 5 years
• Answer: C
, Page 4 of 173
• Rationale: The qualified individual must have a minimum of three years of experience in
the classification or specialty for which they are the qualifier .
5. Which of the following is an acceptable alternative to meeting the net worth requirement for
a Class B license?
• A) Personal guarantee from the owner
• B) $50,000 surety bond
• C) $100,000 liability insurance policy
• D) Letter of credit from any bank
• Answer: B
• Rationale: In lieu of the net worth requirement, a firm may obtain a $50,000 surety
bond on the board's bond form .
6. If a designated employee leaves the full-time employ of a licensed contractor, the contractor
must provide the name of a new designated employee within how many days?
