Florida Business and Finance UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Which A1A document must be notarized to be valid? - CORRECT
ANSWER Contactor affidavit of release of liens
Which A1A docs are to be notarized? - CORRECT ANSWER Contractor affidavit of
release of liens & Application and certificate of payment
What is the color of the print on the A1A documents? - CORRECT ANSWER Black
and Red
Who is responsible for securing and paying for permits? - CORRECT
ANSWER Contractor
What is the time limit for filing a claim? - CORRECT ANSWER 21 days
After notification of a request for payment by the contractor , how long does the architect
have to either issue a certification of payment to the owner, or notify the contractor
otherwise? - CORRECT ANSWER 7 days (then bank has 3)
If a contractor isn't paid, how long must he wait before he can stop work? - CORRECT
ANSWER 7 days + additional 7 days
Who is responsible for obtaining and paying for property damage insurance? - CORRECT
ANSWER Owner
Under what conditions can a contractor terminate the contract? - CORRECT
ANSWER A201 14.1.1
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Which A1A document must be notarized to be valid? - CORRECT
ANSWER Contactor affidavit of release of liens
Which A1A docs are to be notarized? - CORRECT ANSWER Contractor affidavit of
release of liens & Application and certificate of payment
What is the color of the print on the A1A documents? - CORRECT ANSWER Black
and Red
Who is responsible for securing and paying for permits? - CORRECT
ANSWER Contractor
What is the time limit for filing a claim? - CORRECT ANSWER 21 days
After notification of a request for payment by the contractor , how long does the architect
have to either issue a certification of payment to the owner, or notify the contractor
otherwise? - CORRECT ANSWER 7 days (then bank has 3)
If a contractor isn't paid, how long must he wait before he can stop work? - CORRECT
ANSWER 7 days + additional 7 days
Who is responsible for obtaining and paying for property damage insurance? - CORRECT
ANSWER Owner
Under what conditions can a contractor terminate the contract? - CORRECT
ANSWER A201 14.1.1
