1 EXAM PREP NASCLA CONTRACTOR'S GUIDE TO BUSINESS,
LAW CORRECT QUESTIONS & ANSWERS(GRADED A+)
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 -
E. 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 -
E. 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 -
E. 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 -
E. 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 -
E. Answer--Schedule acceleration
6. The EAP should include .
A. Student's name
B. Employer's name
C. Administrator's name
D. Next of kin -
E. 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 -
E. Answer--Emergency Contract
8. Having adequate technology strengths can help an organization with all except the
following?
A. Estimating
B. Purchasing
, C. Scheduling
LAW CORRECT QUESTIONS & ANSWERS(GRADED A+)
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 -
E. 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 -
E. 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 -
E. 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 -
E. 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 -
E. Answer--Schedule acceleration
6. The EAP should include .
A. Student's name
B. Employer's name
C. Administrator's name
D. Next of kin -
E. 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 -
E. Answer--Emergency Contract
8. Having adequate technology strengths can help an organization with all except the
following?
A. Estimating
B. Purchasing
, C. Scheduling
