TENNESSEE BUSINESS AND LAW ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ Which of the following is not an obligation by the contractor?.
Answer: approval of all plans
◍ Of the following, which is not an advantage to a general partnership?.
Answer: multiple decision makers
◍ Typically, an indirect lienor isone who contracts directly with....
Answer: building contractor
◍ For public construction contracts funded by the state exceeding $100,000,
the contractor must provide a bond in the amount of (blank) of the contract
amount.
Answer: 25%
◍ An EAP is allowed to be orally communicated for fewer than (blank)
employees.
Answer: 11
◍ When working in a dwelling that was built prior to 1978, the employer is to
provide each occupant with a pamphlet titled.
Answer: Protect Your Family from Lead in Your Home
◍ Which of the following is a purpose of a business plan?.
Answer: establish goals
◍ A sole proprietor is taxed on.
Answer: ordinary income
◍ What is mediation?.
Answer: Mediation is a process where a neutral third party helps disputing
, parties reach a mutually agreeable solution.
◍ (blank) is defined as any building, structure, erection, alteration, demolition,
excavation, or any part thereof, including ornamental shrubbery and trees,
driveways, and private roadways on real property for its permanent benefit.
Answer: improvement
◍ To determine how much to withhold in taxes from an employee, the
employer is to use the employee's....
Answer: W-4
◍ A (blank) is used as a cost model from previous jobs.
Answer: conceptual estimate
◍ FUTA tax base and tax rate is generally calculated at?.
Answer: current prevailing rate
◍ Use information from (blank) to help determine accurate job costs.
Answer: previous jobs
◍ Whose responsibility is it to understand OSHA requirements?.
Answer: employer
◍ Which of the following is the employer responsible to pay for his/her
employees?.
Answer: FUTA
◍ A (blank) bond guarantees against defects, material or workmanship.
Answer: maintenance
◍ A (blank) bundles all cost factors for the entire task.
Answer: unit price method
◍ A downside to public relations is?.
Answer: labor-intensive nature
◍ Within how many days after a notice of completion is filed for residential
property, must a lien claim be filed?.
Answer: 10 days
, ◍ If an employee earns $112,000 per year, what is the TOTAL amount of
medicare that both employer and employee is to pay in?.
Answer: $3,248(112,000 x (1.45 x 2) = 3,248)
◍ (blank) is not a purpose of a contractor's license.
Answer: generate revenue
◍ Furnish W-2 forms to employees by?.
Answer: January 31
◍ For I-9 must be kept for at least (blank) years from the date of hire.
Answer: 3 years
◍ For federal taxes, a sole proprietor is to use self-employment tax from....
Answer: 1040 and Schedule SE
◍ The (blank) states that one cannot file against a public property.
Answer: miller act
◍ "S" Corporation taxes are recognized as (blank) wages.
Answer: pass through
◍ Generally, which of the following entities share no personal liability?.
Answer: S corporation
◍ How long does a United States District Court judge serve?.
Answer: A United States District Court judge serves for life, unless they
resign, retire, or are removed.
◍ When filing a bond claim, the process is outlined in the language for....
Answer: common-law bonds
◍ What form is used to file a Tennessee General Partnership Registration?.
Answer: SS-4514
◍ Which Form is used for Tennessee's Foreign Limited Partnership
Registration?.
Answer: SS-4473
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ Which of the following is not an obligation by the contractor?.
Answer: approval of all plans
◍ Of the following, which is not an advantage to a general partnership?.
Answer: multiple decision makers
◍ Typically, an indirect lienor isone who contracts directly with....
Answer: building contractor
◍ For public construction contracts funded by the state exceeding $100,000,
the contractor must provide a bond in the amount of (blank) of the contract
amount.
Answer: 25%
◍ An EAP is allowed to be orally communicated for fewer than (blank)
employees.
Answer: 11
◍ When working in a dwelling that was built prior to 1978, the employer is to
provide each occupant with a pamphlet titled.
Answer: Protect Your Family from Lead in Your Home
◍ Which of the following is a purpose of a business plan?.
Answer: establish goals
◍ A sole proprietor is taxed on.
Answer: ordinary income
◍ What is mediation?.
Answer: Mediation is a process where a neutral third party helps disputing
, parties reach a mutually agreeable solution.
◍ (blank) is defined as any building, structure, erection, alteration, demolition,
excavation, or any part thereof, including ornamental shrubbery and trees,
driveways, and private roadways on real property for its permanent benefit.
Answer: improvement
◍ To determine how much to withhold in taxes from an employee, the
employer is to use the employee's....
Answer: W-4
◍ A (blank) is used as a cost model from previous jobs.
Answer: conceptual estimate
◍ FUTA tax base and tax rate is generally calculated at?.
Answer: current prevailing rate
◍ Use information from (blank) to help determine accurate job costs.
Answer: previous jobs
◍ Whose responsibility is it to understand OSHA requirements?.
Answer: employer
◍ Which of the following is the employer responsible to pay for his/her
employees?.
Answer: FUTA
◍ A (blank) bond guarantees against defects, material or workmanship.
Answer: maintenance
◍ A (blank) bundles all cost factors for the entire task.
Answer: unit price method
◍ A downside to public relations is?.
Answer: labor-intensive nature
◍ Within how many days after a notice of completion is filed for residential
property, must a lien claim be filed?.
Answer: 10 days
, ◍ If an employee earns $112,000 per year, what is the TOTAL amount of
medicare that both employer and employee is to pay in?.
Answer: $3,248(112,000 x (1.45 x 2) = 3,248)
◍ (blank) is not a purpose of a contractor's license.
Answer: generate revenue
◍ Furnish W-2 forms to employees by?.
Answer: January 31
◍ For I-9 must be kept for at least (blank) years from the date of hire.
Answer: 3 years
◍ For federal taxes, a sole proprietor is to use self-employment tax from....
Answer: 1040 and Schedule SE
◍ The (blank) states that one cannot file against a public property.
Answer: miller act
◍ "S" Corporation taxes are recognized as (blank) wages.
Answer: pass through
◍ Generally, which of the following entities share no personal liability?.
Answer: S corporation
◍ How long does a United States District Court judge serve?.
Answer: A United States District Court judge serves for life, unless they
resign, retire, or are removed.
◍ When filing a bond claim, the process is outlined in the language for....
Answer: common-law bonds
◍ What form is used to file a Tennessee General Partnership Registration?.
Answer: SS-4514
◍ Which Form is used for Tennessee's Foreign Limited Partnership
Registration?.
Answer: SS-4473
