1 Exam Prep NASCLA Contractor's Guide
to Business, Law, and Project
Management, Florida 1st Edition Practice
Test 2
1. Which of the following bonds guarantees that the contractor has paid the
subcontractor?
A. Bid bond
B. Performance bond
C. Payment bond
D. James bond - CORRECT ANSWER-Payment Bond
2. The _____________ method recognizes income when the employer has done
the work, yet has not
received the income.
A. Accrual
B. Appreciation
C. Deprecation
D. Cash - CORRECT ANSWER-Cash
3. A ___________________ bundles all cost factors for entire task.
A. Lump sum
B. Cost plus
,C. Percent completion method
D. Unit price method - CORRECT ANSWER-Unit Price Method
4. _______________ requires paying prevailing wages in federally-financed
projects.
A. Service Contract Act
B. Walsh-Healey Act
C. Wage Garnishment Law
D. Davis-Bacon Act - CORRECT ANSWER-Service Contract Act
5. ________________ absolves the indemnified party from any payment for
losses and damages
incurred by a third party.
A. Indemnification
B. Delays and extensions of time
C. Schedule acceleration
D. Force majeure - CORRECT ANSWER-Schedule acceleration
6. The EAP should include ______________.
A. Student's name
B. Employer's name
C. Administrator's name
, D. Next of kin - CORRECT ANSWER-Employer's Name
7. The MSDS provides for two main purposes: one purpose is product
information, the other purpose is
_______________ information.
A. Substance
B. Chemical
C. Sequence of activities
D. Emergency contact - CORRECT ANSWER-Emergency Contract
8. Having adequate technology strengths can help an organization with all except
the following?
A. Estimating
B. Purchasing
C. Scheduling
D. Vacationing - CORRECT ANSWER-Estimating
9. Which of the following is an exclusion to an advantage of a sole proprietor?
A. Limited personal responsibility
B. Low start up costs
C. Ownership of profits
D. Decision making freedom - CORRECT ANSWER-Ownership of profits
10. _________________ determine the type of materials or methods used.
to Business, Law, and Project
Management, Florida 1st Edition Practice
Test 2
1. Which of the following bonds guarantees that the contractor has paid the
subcontractor?
A. Bid bond
B. Performance bond
C. Payment bond
D. James bond - CORRECT ANSWER-Payment Bond
2. The _____________ method recognizes income when the employer has done
the work, yet has not
received the income.
A. Accrual
B. Appreciation
C. Deprecation
D. Cash - CORRECT ANSWER-Cash
3. A ___________________ bundles all cost factors for entire task.
A. Lump sum
B. Cost plus
,C. Percent completion method
D. Unit price method - CORRECT ANSWER-Unit Price Method
4. _______________ requires paying prevailing wages in federally-financed
projects.
A. Service Contract Act
B. Walsh-Healey Act
C. Wage Garnishment Law
D. Davis-Bacon Act - CORRECT ANSWER-Service Contract Act
5. ________________ absolves the indemnified party from any payment for
losses and damages
incurred by a third party.
A. Indemnification
B. Delays and extensions of time
C. Schedule acceleration
D. Force majeure - CORRECT ANSWER-Schedule acceleration
6. The EAP should include ______________.
A. Student's name
B. Employer's name
C. Administrator's name
, D. Next of kin - CORRECT ANSWER-Employer's Name
7. The MSDS provides for two main purposes: one purpose is product
information, the other purpose is
_______________ information.
A. Substance
B. Chemical
C. Sequence of activities
D. Emergency contact - CORRECT ANSWER-Emergency Contract
8. Having adequate technology strengths can help an organization with all except
the following?
A. Estimating
B. Purchasing
C. Scheduling
D. Vacationing - CORRECT ANSWER-Estimating
9. Which of the following is an exclusion to an advantage of a sole proprietor?
A. Limited personal responsibility
B. Low start up costs
C. Ownership of profits
D. Decision making freedom - CORRECT ANSWER-Ownership of profits
10. _________________ determine the type of materials or methods used.
