MHIC Study Guide Final Exam 2024

MHIC Study Guide Final Exam 2024 A contractor must pay ________ to the gauaranty fund? - CORRECT ANSWER-10% Unlicensed contractor homeowner receives how much for work - CORRECT ANSWERNothing because unlicensed Filing a complaint is a way to receive compensation for a homeowner - CORRECT ANSWER-False Gauaranty fund exceeds 100,000 commission will do what - CORRECT ANSWER-Pro rate the claims so claimant receives the same amount Renew for sales person - CORRECT ANSWER-$100 Contractor has ___ days to pay back fund until commission can sue - CORRECT ANSWER-60 days Minimum Hight for license number on car - CORRECT ANSWER-3 inches Money put down by homeowner then gives promissory note the contractor may - CORRECT ANSWER-Not accept deal Mold license may be required when conducting - CORRECT ANSWER-Residential mold remediation Manditory arbitration clause must have - CORRECT ANSWER-Current license number of arbitrator Material does not meet local codes but does for state this means what - CORRECT ANSWER-Prohibited act Waste running into the Chesapeake bay - who take care of this - CORRECT ANSWERCritical area commission Contact us secured by interest may rescind the contract in how many day - CORRECT ANSWER-Five business days