ICA Module 2 Test
Which of the following is a real company legal structure?
B corporation
limited liability company (LLC)
double proprietor
bi-lateral partnership - ANS- limited liability company (LLC)
A sole proprietor:
has no separation of liability if a claim is filed against you
is more complicated for taxes
is expensive to set up
is the most complicated form of business legal structure - ANS- has no separation of
liability if a claim is filed against you
A typical general liability insurance policy provides:
$75,000 in coverage
$10 to 20 million in coverage
$1 to 2 million in coverage
$5000 in coverage - ANS- $1 to 2 million in coverage
Which of these additional services is licensed in most (or all) states?
termites
EIFS
energy audits
mold - ANS- termites
The pre-inspection agreement (inspection contract):
should be used only in states that require it
should be signed by the client when the report is delivered
should be signed by the client after the inspection is completed
should be signed by the client before the inspection begins - ANS- should be signed by
the client before the inspection begins
Which of the following is a real company legal structure?
B corporation
limited liability company (LLC)
double proprietor
bi-lateral partnership - ANS- limited liability company (LLC)
A sole proprietor:
has no separation of liability if a claim is filed against you
is more complicated for taxes
is expensive to set up
is the most complicated form of business legal structure - ANS- has no separation of
liability if a claim is filed against you
A typical general liability insurance policy provides:
$75,000 in coverage
$10 to 20 million in coverage
$1 to 2 million in coverage
$5000 in coverage - ANS- $1 to 2 million in coverage
Which of these additional services is licensed in most (or all) states?
termites
EIFS
energy audits
mold - ANS- termites
The pre-inspection agreement (inspection contract):
should be used only in states that require it
should be signed by the client when the report is delivered
should be signed by the client after the inspection is completed
should be signed by the client before the inspection begins - ANS- should be signed by
the client before the inspection begins
