VIRGINIA PRACTICE EXAM QUESTIONS & ANSWERS
2024 ( A+ GRADED 100% VERIFIED)
1. Contractors who are assessed a fee to support the Transaction Recovery Fund
MUST pay this fee within a MINIMUM of how many days from when the
assessment fee notice was mailed?: 45 days
2. An appeal of a final decision of a county on an erosion control plan MUST be
filed with a MAXIMUM of how many days?: 30 days
3. All Class A contractor licensure applications MUST include:: Information on the
knowledge, skills, abilities of the applicant
4. When a claimant is paid funds from the Contractors Recovery Trust Fund: -
The contractors license is revoked
5. Which of the following is a requirement for a joint venture?: Either the joint
venture or each contracting party of joint venture must be licensed
6. Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the Fund balance is less than: $400,000
7. according to the board rules and regulations, which if the following could be a
qualified individual: Any full-time employee
8. A verified claim for the payment from the Transaction Recovery Fund MUST
occur within a MAXIMUM of what period of time from the date the claimant
was awarded a final judgement: 12 months
9. A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund: Residential only
10. according to the board rules and regulations, a full-time employee is one who
works a MINIMUM of how many hours per week: 30 hours
11. A firm desiring to be licensed as a Class B contractor MUST have a
MINIMUM net worth of: $15,000
12. How much is the Class A initial license fee: $360
13. What is the MAXIMUM penalty for contractor who undertakes work without
the proper Class license: $500 fine per day for each day of violation plus penalties
for a misdemeanor
14. When must the work be stopped following the issuance of a stop order:
Immediately
15. A licenses name change must be reported to the board within a maximum of
how many days?: 30 days
16. What is the primary purpose of licensing: Protect the health and welfare of the
public
2024 ( A+ GRADED 100% VERIFIED)
1. Contractors who are assessed a fee to support the Transaction Recovery Fund
MUST pay this fee within a MINIMUM of how many days from when the
assessment fee notice was mailed?: 45 days
2. An appeal of a final decision of a county on an erosion control plan MUST be
filed with a MAXIMUM of how many days?: 30 days
3. All Class A contractor licensure applications MUST include:: Information on the
knowledge, skills, abilities of the applicant
4. When a claimant is paid funds from the Contractors Recovery Trust Fund: -
The contractors license is revoked
5. Which of the following is a requirement for a joint venture?: Either the joint
venture or each contracting party of joint venture must be licensed
6. Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the Fund balance is less than: $400,000
7. according to the board rules and regulations, which if the following could be a
qualified individual: Any full-time employee
8. A verified claim for the payment from the Transaction Recovery Fund MUST
occur within a MAXIMUM of what period of time from the date the claimant
was awarded a final judgement: 12 months
9. A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund: Residential only
10. according to the board rules and regulations, a full-time employee is one who
works a MINIMUM of how many hours per week: 30 hours
11. A firm desiring to be licensed as a Class B contractor MUST have a
MINIMUM net worth of: $15,000
12. How much is the Class A initial license fee: $360
13. What is the MAXIMUM penalty for contractor who undertakes work without
the proper Class license: $500 fine per day for each day of violation plus penalties
for a misdemeanor
14. When must the work be stopped following the issuance of a stop order:
Immediately
15. A licenses name change must be reported to the board within a maximum of
how many days?: 30 days
16. What is the primary purpose of licensing: Protect the health and welfare of the
public
