Name: Score:
74 Multiple choice questions
Term 1 of 74
Which of the following is NOT true about corporations?
With an "S" corporation there is no corporate tax - you pay taxes individual.
Closely held corporations operate more informally.
There is no limit of shareholders for either a C-type or S-type Corpo.
C-type corpo have the possibility of double taxation.
Term 2 of 74
According to the Statutes of Limitations, how long does a person have to bring action on a wage
recovery claim?
2 yrs
5 yrs
7 yrs
10 yrs
Term 3 of 74
Within how many days of the date the claim of lien is recorded, must a contractor serve a copy of
the claim of lien on the owner and lender (if any)?
15
30
60
90
,Term 4 of 74
An employer who willfully misrepresents an employee as an independent contractor for the
purpose of avoiding Worker's Compensation premiums _______________.
shall be fined 10% of the bid
may be assessed a penalty of up to $5,000.00
shall be assessed a penalty of not less than $5,000.00
may be assessed triple premiums and a fine of $1,000.00
Term 5 of 74
What is the maximum amount of compensation that a consumer is entitled to if injured on a jobsite
due to an unlicensed contractors negligence?
2X the amount of damages.
2x the amount of damages plus attorney fees.
3X the amount of damages
3x the amount of damages, plus attorney's fees
Term 6 of 74
A project is to be considered abandoned after _________ days if the contractor just terminates the
project without notification to the owner and without cause.
30
60
45
90
, Term 7 of 74
Budgets are meant to do which of the following?
Forecast expenses and income
Measure actual performance
Forecast net profit
Measure projected expenses
Term 8 of 74
Network analysis consists of many separate but interrelated operations. These are ___________________.
events
timetables
activities
bar charts
Term 9 of 74
A qualifying agent for a business organization ___________
must notify the Construction Licensing board of any change of status within 90 days.
is not legally qualified to act for the business in all matters connected with contracting.
must notify the Dept of Business Regulations of any change of status within 90 days
is legally qualified to act for the business in all matters connected with contracting.
74 Multiple choice questions
Term 1 of 74
Which of the following is NOT true about corporations?
With an "S" corporation there is no corporate tax - you pay taxes individual.
Closely held corporations operate more informally.
There is no limit of shareholders for either a C-type or S-type Corpo.
C-type corpo have the possibility of double taxation.
Term 2 of 74
According to the Statutes of Limitations, how long does a person have to bring action on a wage
recovery claim?
2 yrs
5 yrs
7 yrs
10 yrs
Term 3 of 74
Within how many days of the date the claim of lien is recorded, must a contractor serve a copy of
the claim of lien on the owner and lender (if any)?
15
30
60
90
,Term 4 of 74
An employer who willfully misrepresents an employee as an independent contractor for the
purpose of avoiding Worker's Compensation premiums _______________.
shall be fined 10% of the bid
may be assessed a penalty of up to $5,000.00
shall be assessed a penalty of not less than $5,000.00
may be assessed triple premiums and a fine of $1,000.00
Term 5 of 74
What is the maximum amount of compensation that a consumer is entitled to if injured on a jobsite
due to an unlicensed contractors negligence?
2X the amount of damages.
2x the amount of damages plus attorney fees.
3X the amount of damages
3x the amount of damages, plus attorney's fees
Term 6 of 74
A project is to be considered abandoned after _________ days if the contractor just terminates the
project without notification to the owner and without cause.
30
60
45
90
, Term 7 of 74
Budgets are meant to do which of the following?
Forecast expenses and income
Measure actual performance
Forecast net profit
Measure projected expenses
Term 8 of 74
Network analysis consists of many separate but interrelated operations. These are ___________________.
events
timetables
activities
bar charts
Term 9 of 74
A qualifying agent for a business organization ___________
must notify the Construction Licensing board of any change of status within 90 days.
is not legally qualified to act for the business in all matters connected with contracting.
must notify the Dept of Business Regulations of any change of status within 90 days
is legally qualified to act for the business in all matters connected with contracting.
