Virginia Contractor's Exam 2024 Approved Questions and Answers Graded A+

What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - $500 fine per day for each day of violation plus penalties for a misdemeanor. What is the PRIMARY purpose of licensing? - Protect the health and welfare of the public. The application for licensure MUST include - the business address of the proposed designated employee. All of the following must be licensed EXCEPT - a material supplier who advises a contractor. When a claimant is paid funds from the Contractors Recovery Trust Fund - the contractor's license is revoked. All Class A contractor licensure applications MUST include - information on the knowledge, skills, and abilities of the applicant. Which of the following is a requirement for a joint venture? - Either the joint venture or each contracting party of the joint venture must be licensed How much is the Class A initial license fee not including the Recovery Fund fee? - $360 According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of how many hours per week? - 30 hours. According to the Board Rules and Regulations, which of the following could be a qualified individual? - Any full-time employee A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of - $15,000 A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? - 30 days. Additions to buildings MUST comply with - the current code for new construction. When MUST the work be stopped following the issuance of a stop work order? - Immediately Who is to be in charge of a local building department? - Building official. An appeal of the local building official's decision to refuse to grant a modification to the USBC MUST be made to the local building board within a MAXIMUM of how many days? - 90 days. A building official MUST issue a certificate of occupancy for a building that meets all the requirements for a certificate within a MAXIMUM of how many working days after the certificate was requested? - 5 Contractors will be assessed a fee for the Transaction Recovery Fund whenever the fund balance is less than - $400,000. Contractors who are assessed a fee to support the Transaction Recovery Fund MUST pay this fee within a MINIMUM of how many days from when the assessment fee notice was mailed? - 45 days. A verified claim for payment from the Transaction Recovery Fund MUST occur within a MAXIMUM of what period of time from the date the claimant was awarded a final judgment? - 12 months. Payments made by the Transaction Recovery Fund to claimants may include an amount for - attorneys' fees.