QUESTIONS WITH VERIFIED A+ ANSWERS 2026
EDITION.
A written construction contract with the owner of a residential structure must contain all of the
following EXCEPT:
A list of any subcontractors who will work on the project.
Which financial statement shows the financial condition of the business by summarizing business
assets, liabilities, and owners' equity at a particular point in time?
Balance Sheet
The Oregon CCB requires contractors to keep a list of subcontractors working on a project. This list
must include:
The subcontractor's CCB license number and the subcontractor's address.
An Information Notice to Owner About Construction Liens need not be given when
The property owner is a licensed Oregon contractor
The CCB dispute resolution authority allows a property owner:
To file a complaint to recover funds spent in discharging a lien.
There are several steps to becoming an Oregon licensed contractor. One of the important steps is
determining who will take the required license test. This person is known as:
The Responsible Managing Individual.
The building exterior shell provides protection for the building at its exterior boundaries by providing
all of the following EXCEPT:
Variable interior environment.
When a party to a contract fails to do what the contract requires, without a legally sufficient excuse,
this is referred to as a:
Breach of contract.
A contractor must carry workers' compensation insurance unless it is a
Sole proprietorship with a residential endorsement and no employees.
Contracts between the general contractor and other independent contractors are called subcontracts.
In such a case, all of the following are true, EXCEPT:
The subcontractor works under the contractor's CCB license and does not need a CCB license.
A licensed contractor operating as a Sole Proprietorship files their federal tax return reporting the
business income as:
, Ordinary income.
Which of the following is not considered hazardous waste and can be disposed of at any solid waste
landfill?
Used bricks.
Company overhead is the cost of doing business and includes
Office expenses.
Every employer in Oregon must do the following, EXCEPT:
File weekly tax reports electronically
Open burning is often regulated by local regulations. Which activities are allowed as open burning?
Burning stumps to clear land.
All contractors with a MINIMUM of how many employees MUST keep an OSHA 300 log and comply
with Oregon OSHA record keeping and reporting requirements?
11
If a contractor requests an inspection and the inspector does not perform the inspection when
scheduled, then
The contractor must leave open the portion of the construction requiring inspection until the inspector
gives approval.
The contractor must leave open the portion of the construction requiring inspection until the
inspector gives approval.
At least 60 days
Scheduling a project involves many elements including knowing how much time is needed as a buffer
particularly for tasks subject to delays such as weather. This planning tool is known as:
Contingency Time.
A construction company calculates its annual overhead percentage with the following formula:
Prior year, or anticipated, overhead costs divided by prior year, or anticipated, revenue.
Which of the following is not a disadvantage to forming a partnership?
Ease of formation.
Contractors are required to have an RMI designated at all times. An RMI is an individual for whom all
of the following are true, EXCEPT:
Has achieved a score of at least 65 on the CCB exam.
Retainage is partial withholding of payment until project completion and acceptance. In Oregon
retainage CANNOT exceed what percentage?