NASCLA Contractors Guide to Business, Law, and
Project Managemen
When setting up a business, the 1. Sole Proprietorship (BM 2-1)
_________________________is the
simplest form of doing business.
1. Sole Proprietorship
2. Partnership
3. Corporation
4. S-Corpotation
Which of the following is not a 2. Deliberation (BM 8-1)
primary element of a
contract?
1. Offer
2. Deliberation
3. Acceptance
4. Consideration
N.C. franchise tax is based on a 1. $1.50/$1000 (BM 15-7)
rate of:
1. $1.50/$1000
2. $2.25/$1000
3. $3.70/$1000
4. $4.20/$1000
The 4 M's of planning don't 3. Market Survey (BM)
include:
1. Materials
2. Manpower
3. Market Survey
4. Machinery
,People exempt from being 3. Paraprofessional (BM 11-5)
paid overtime par are not:
1. Administrative
2. Sales
3. Paraprofessional
4. Management
The disadvantages of a Sole 4. All the above (BM 2-1)
Proprietorship is/are:
1. Unlimited personal
Liability
2. Dissolution of the
business in the event of
owner's death
3. Less available capital
4. All the above
Which of the following types of 4. All the above (BM 4-2)
insurance should be secured?
1. Worker's Compensation
2. Motor Vehicle
3. General Liability
4. All the above
Which of the following is not 3. Surety Bond (BM 4-7)
listed as a base type of
bond?
1. Bid Bond
2. Performance Bond
3. Surety Bond
4. Payment Bond
On the balance sheet, assets 3. Liabilities + Owner Equity (BM 14-3)
equal:
1. Liabilities
2. Owner Equity
3. Liabilities + Owner Equity
4. Owner's Equity Minus Liabilities
New companies are assigned 2. 1.2% (BM)
an initial rate of for
unemployment insurance.
1. 1.5%
2. 1.2%
3. 3.7%
4. 4.2%
An Employer with 5 2. False (BM 12-1)
employees is not required to
display the OSHA poster.
1. True
2. False
, Which of the following are not a 4. Supervisor Salaries (BM 7-6)
part of company overhead?
1. Office Salaries
2. Accounting & Legal Fees
3. Office Supplies
4. Supervisor Salaries
Estimating the labor costs 1. True (BM)
involved in a construction
project is frequently the most
difficult aspect of the
estimating process.
1. True
2. False
Project Managemen
When setting up a business, the 1. Sole Proprietorship (BM 2-1)
_________________________is the
simplest form of doing business.
1. Sole Proprietorship
2. Partnership
3. Corporation
4. S-Corpotation
Which of the following is not a 2. Deliberation (BM 8-1)
primary element of a
contract?
1. Offer
2. Deliberation
3. Acceptance
4. Consideration
N.C. franchise tax is based on a 1. $1.50/$1000 (BM 15-7)
rate of:
1. $1.50/$1000
2. $2.25/$1000
3. $3.70/$1000
4. $4.20/$1000
The 4 M's of planning don't 3. Market Survey (BM)
include:
1. Materials
2. Manpower
3. Market Survey
4. Machinery
,People exempt from being 3. Paraprofessional (BM 11-5)
paid overtime par are not:
1. Administrative
2. Sales
3. Paraprofessional
4. Management
The disadvantages of a Sole 4. All the above (BM 2-1)
Proprietorship is/are:
1. Unlimited personal
Liability
2. Dissolution of the
business in the event of
owner's death
3. Less available capital
4. All the above
Which of the following types of 4. All the above (BM 4-2)
insurance should be secured?
1. Worker's Compensation
2. Motor Vehicle
3. General Liability
4. All the above
Which of the following is not 3. Surety Bond (BM 4-7)
listed as a base type of
bond?
1. Bid Bond
2. Performance Bond
3. Surety Bond
4. Payment Bond
On the balance sheet, assets 3. Liabilities + Owner Equity (BM 14-3)
equal:
1. Liabilities
2. Owner Equity
3. Liabilities + Owner Equity
4. Owner's Equity Minus Liabilities
New companies are assigned 2. 1.2% (BM)
an initial rate of for
unemployment insurance.
1. 1.5%
2. 1.2%
3. 3.7%
4. 4.2%
An Employer with 5 2. False (BM 12-1)
employees is not required to
display the OSHA poster.
1. True
2. False
, Which of the following are not a 4. Supervisor Salaries (BM 7-6)
part of company overhead?
1. Office Salaries
2. Accounting & Legal Fees
3. Office Supplies
4. Supervisor Salaries
Estimating the labor costs 1. True (BM)
involved in a construction
project is frequently the most
difficult aspect of the
estimating process.
1. True
2. False
