VA Contractors: General (Class A or B)
Which of the following estimating methods is typically used by the architect rather than the
contractor? - correct answer-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials plus a
fixed fee for the contractor's overhead and profit is called a... - correct answer-cost plus
contract
Equipment needs for a project are BEST estimated by... - correct answer-Calculating the
number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does NOT go
out of business if one partner dies? - correct answer-Key man
An owner hires a construction manager for a project. Which of the following is TRUE with
regard to subcontractors? - correct answer-The subcontractors are prime contractors
What protects a contractor from risk? - correct answer-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - correct answer-Identifies
activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - correct answer-Light fixture costs
Which of the following is considered ethical behavior? - correct answer-Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - correct answer-1099
The BEST business practice for special-ordered materials is to... - correct answer-put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have. This
is considered... - correct answer-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM of
how many years? - correct answer-30 years
AT LEAST how often should employees watch for possible hazards at the job site? - correct
answer-constantly
An employee can request to receive advance earned income credit on Form... - correct
answer-W-5
Which of the following estimating methods is typically used by the architect rather than the
contractor? - correct answer-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and materials plus a
fixed fee for the contractor's overhead and profit is called a... - correct answer-cost plus
contract
Equipment needs for a project are BEST estimated by... - correct answer-Calculating the
number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business does NOT go
out of business if one partner dies? - correct answer-Key man
An owner hires a construction manager for a project. Which of the following is TRUE with
regard to subcontractors? - correct answer-The subcontractors are prime contractors
What protects a contractor from risk? - correct answer-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - correct answer-Identifies
activities that MUST be completed before other activities can occur
What may be covered by an allowance in a contract? - correct answer-Light fixture costs
Which of the following is considered ethical behavior? - correct answer-Failing to disclose
one subcontractor's bid to another
Compensation paid to independent contractors is reported on Form... - correct answer-1099
The BEST business practice for special-ordered materials is to... - correct answer-put the
order requirements in writing
A contract refers to an insurance agreement that the contractor is REQUIRED to have. This
is considered... - correct answer-Part of the contract
Records of an employee's exposure to hazardous materials MUST be kept a MINIMUM of
how many years? - correct answer-30 years
AT LEAST how often should employees watch for possible hazards at the job site? - correct
answer-constantly
An employee can request to receive advance earned income credit on Form... - correct
answer-W-5
