Exam Prep NASCLA Contractor's Guide to Business, Law, and Project Management, Florida 1st Edition Practice Test 1 100% Solved

Exam Prep NASCLA Contractor's Guide to Business, Law, and Project Management, Florida 1st Edition Practice Test 1 100% Solved 1. FOB freight prepaid requires __________ to pay for shipping charges. A. Contractor B. Buyer C. Seller D. Subcontractor - Answer- Seller 2. Which of the following is not a member of the supervisory? A. Foreman B. materials expediter C. Owner's representative D. Project manager - Answer- Project Manager 3. __________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a simplified method. A. Calendar B. Bar chart C. Gantt - Answer- Calendar 4. When working in dwelling that was built prior to 1978, the employer is to provide each occupant with a pamphlet ____________titled. A. Protect your family from lead in your home B. Protect your loved ones from lead in your home C. Protect your family and your friends from lead in your home D. Pamphlets are not required - Answer- Protect your family from lead in your home 5. Who pays into a worker's unemployment compensation? A. Property owner B. Building contractor C. Employer D. Employee - Answer- Employer 6. 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 submits a request for final payment should be for? A. More than $80,000 B. Less than $50,000 C. Between $50,001 and $60,000 D. Between $60,001 and $70,000 - Answer- More than $80,000 7. Which of the flowing is not a key characteristic of a sole proprietorship? A. termination at death of the owner B. Business expenses and personal income are not separated C. Taxed as ordinary income D. Must bear all responsibility - Answer- Business expenses and personal income are not separated 8. What is the quick ratio (or acid test ratio) for a company that has current assets of $28,000, inventory of $4,000, and current liabilities of $6,000? A. 4/1 B. 1/4 C. 7/1 D. 1/7 - Answer- 4/1 9. An EAP (Employee Assistance Program) is required to be in writing for ________employees or more. A. 2 B. 8 C. 10 D. 11 - Answer- 11 10. Who pays into FUTA (Federal