Virginia Contractor Practice Test (virginia hci) 2024 questions and answers

Virginia Contractor Practice Test (virginia hci) 2024 questions and answers What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - CORRECT ANSWER-$500 fine. Which of the following is a requirement for a joint venture? - CORRECT ANSWEREither the joint venture or each contracting party of the joint venture must be licensed. The application for licensure MUST include - CORRECT ANSWER-the business address of the proposed designated employee. All Class A contractor licensure applications MUST include - CORRECT ANSWERinformation on the knowledge, skills, and abilities of the applicant. When a claimant is paid funds from the Contractors Recovery Trust Fund - CORRECT ANSWER-the contractor's license is revoked. All of the following must be licensed EXCEPT - CORRECT ANSWER-a material supplier who advises a contractor. What is the PRIMARY purpose of licensing? - CORRECT ANSWER-Protect the health and welfare of the public. A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of - CORRECT ANSWER-$15,000. A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? - CORRECT ANS