NASCLA PSI EXAM PRACTICE | Business Law &
Project Management
FOB freight prepaid requires __________ to pay for shipping charges ANSW - Seller 14-12
Which of the following is not a member of the supervisory team? ANSW - Project manager 9-7
__________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a
simplified method. ANSW - Calendar 9-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant
with a pamphlet title _________? ANSW - Protect your family from lead in your home 12-14
You have ___________ days from the completion of a commercial structure or commercial
construction project to file a lien claim form. ANSW - 90 16-2
A lump sum contract on a project has a total contact price of $260,000. Retainage has been held
back at 10%. The contractor has received progress payments for 75% of the project. The
contractor submit a request for final payment should be for? ANSW - More than $80,000
$260,000 * .35= $91,000
Which of the following is not a key characteristic of a sole proprietor ship? ANSW - Business
expenses and personal income are not separated. 2-1
What is the quick ratio or or acid test ratio for a company that has current assets of $28,000,
inventory of $4000, and current liabilities of $6000? ANSW - 4/1 14-7
An EAP is required to be in writing for______employees or more. ANSW - 11 12-3
Who pays into FUTA? ANSW - Employer 15-5
, What is the purpose of just in time deliveries? ANSW - Profit high and vandalism low. 9-9
Ethics has to do with all but which of the following? ANSW - Lying to the customer. 5-2
Which of the following is not a reward for owning a enterprise? ANSW - Managing cash flow 1-
1
Which of the following is not covered under the ADA? ANSW - Paper cut. 11-7
A job estimated to cost $1 million. However, two companies have a Of $500,000. They can
legally do this job if they___? ANSW - Joint venture. 2-6
The standard make up in the construction industry is? ANSW - 15%. 7-7
Which is not an advantage of a partnership? ANSW - Multiple decision makers. 2-2
___Prohibits firing due to taking of property. ANSW - Wage Garnishment law 11-8
The maximum number of shareholders permitted within an S corporation is? ANSW - 75 2-5
The state sales tax is___Percent of the gross sales for materials purchased or leased in New
Jersey. ANSW - 6 15-8
Delegating provides for all but the following? ANSW - I can do it all 5-1,5-2
The most important aspect of a contract is___? ANSW - Understanding. 8-2
Project Management
FOB freight prepaid requires __________ to pay for shipping charges ANSW - Seller 14-12
Which of the following is not a member of the supervisory team? ANSW - Project manager 9-7
__________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a
simplified method. ANSW - Calendar 9-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant
with a pamphlet title _________? ANSW - Protect your family from lead in your home 12-14
You have ___________ days from the completion of a commercial structure or commercial
construction project to file a lien claim form. ANSW - 90 16-2
A lump sum contract on a project has a total contact price of $260,000. Retainage has been held
back at 10%. The contractor has received progress payments for 75% of the project. The
contractor submit a request for final payment should be for? ANSW - More than $80,000
$260,000 * .35= $91,000
Which of the following is not a key characteristic of a sole proprietor ship? ANSW - Business
expenses and personal income are not separated. 2-1
What is the quick ratio or or acid test ratio for a company that has current assets of $28,000,
inventory of $4000, and current liabilities of $6000? ANSW - 4/1 14-7
An EAP is required to be in writing for______employees or more. ANSW - 11 12-3
Who pays into FUTA? ANSW - Employer 15-5
, What is the purpose of just in time deliveries? ANSW - Profit high and vandalism low. 9-9
Ethics has to do with all but which of the following? ANSW - Lying to the customer. 5-2
Which of the following is not a reward for owning a enterprise? ANSW - Managing cash flow 1-
1
Which of the following is not covered under the ADA? ANSW - Paper cut. 11-7
A job estimated to cost $1 million. However, two companies have a Of $500,000. They can
legally do this job if they___? ANSW - Joint venture. 2-6
The standard make up in the construction industry is? ANSW - 15%. 7-7
Which is not an advantage of a partnership? ANSW - Multiple decision makers. 2-2
___Prohibits firing due to taking of property. ANSW - Wage Garnishment law 11-8
The maximum number of shareholders permitted within an S corporation is? ANSW - 75 2-5
The state sales tax is___Percent of the gross sales for materials purchased or leased in New
Jersey. ANSW - 6 15-8
Delegating provides for all but the following? ANSW - I can do it all 5-1,5-2
The most important aspect of a contract is___? ANSW - Understanding. 8-2
