1 Exam Prep NASCLA Contractor's Guide
to Business, Law, and Project
Management, Florida 1st Edition Practice
Test 1
1. FOB freight prepaid requires
__________ to pay for shipping
charges.
A. Contractor
B. Buyer
C. Seller
D. Subcontractor - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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?
to Business, Law, and Project
Management, Florida 1st Edition Practice
Test 1
1. FOB freight prepaid requires
__________ to pay for shipping
charges.
A. Contractor
B. Buyer
C. Seller
D. Subcontractor - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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 - CORRECT 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?
