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VA CONTRACTORS: GENERAL (CLASS A OR B) EXAM LATEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
To register a business in Virginia you must file with the ____.
Virginia State Corporation Commission
DPOR
Clerk of Circuit Court
Virginia Board for Contractors - ANSWER-Virginia State
Corporation Commission
Which of the following is NOT a company overhead cost?
General liability insurance
Legal fees
Taxes
Bonds - ANSWER-Bonds
One useful outcome of a job cost recording system is to ___.
Predict timing of progress payments
Establish a basis for future estimates
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Establish a record of cash flow
Determines the accounting method to use for contracts -
ANSWER-Establish a basis for future estimates
Which estimating method is most often used when materials and
labor are hard to determine?
Detailed survey
Design/build
Unit price
Turnkey - ANSWER-Unit price
What project costs do not need to be estimated?
General overhead
Allowances
Subcontracts
Costs of materials - ANSWER-Allowances
What action is essential before signing a contract?
Obtain bids from subcontractors
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Obtain building permits for the project
Arrange financing for the contract
Be clear on the details and obligations of the contract - ANSWER-
Be clear on the details and obligations of the contract
Which contract document(s) MUST be signed by both the owner
and the contractor?
Plans & Specifications
Surety Bonds
Change Orders
Permit Application - ANSWER-Change Orders
Which of the following is an established legal guideline for
contracts?
Numerical statements of dollar amounts prevail over written
statements
Printed agreements prevail over handwritten agreements
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Written agreements prevail over oral agreements
Initial agreements prevail over later agreements - ANSWER-
Written agreements prevail over oral agreements
What is a contract?
The specifications for a project
An offer to perform services for a specified price
A summary of bid documents for a project
A legally binding mutual agreement between two or more parties -
ANSWER-A legally binding mutual agreement between two or
more parties
What type of contract assigns the prime contractor responsibility
for developing the entire project?
Turnkey
Design/build
Lump sum
VA CONTRACTORS: GENERAL (CLASS A OR B) EXAM LATEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
To register a business in Virginia you must file with the ____.
Virginia State Corporation Commission
DPOR
Clerk of Circuit Court
Virginia Board for Contractors - ANSWER-Virginia State
Corporation Commission
Which of the following is NOT a company overhead cost?
General liability insurance
Legal fees
Taxes
Bonds - ANSWER-Bonds
One useful outcome of a job cost recording system is to ___.
Predict timing of progress payments
Establish a basis for future estimates
,2|Page
Establish a record of cash flow
Determines the accounting method to use for contracts -
ANSWER-Establish a basis for future estimates
Which estimating method is most often used when materials and
labor are hard to determine?
Detailed survey
Design/build
Unit price
Turnkey - ANSWER-Unit price
What project costs do not need to be estimated?
General overhead
Allowances
Subcontracts
Costs of materials - ANSWER-Allowances
What action is essential before signing a contract?
Obtain bids from subcontractors
,3|Page
Obtain building permits for the project
Arrange financing for the contract
Be clear on the details and obligations of the contract - ANSWER-
Be clear on the details and obligations of the contract
Which contract document(s) MUST be signed by both the owner
and the contractor?
Plans & Specifications
Surety Bonds
Change Orders
Permit Application - ANSWER-Change Orders
Which of the following is an established legal guideline for
contracts?
Numerical statements of dollar amounts prevail over written
statements
Printed agreements prevail over handwritten agreements
, 4|Page
Written agreements prevail over oral agreements
Initial agreements prevail over later agreements - ANSWER-
Written agreements prevail over oral agreements
What is a contract?
The specifications for a project
An offer to perform services for a specified price
A summary of bid documents for a project
A legally binding mutual agreement between two or more parties -
ANSWER-A legally binding mutual agreement between two or
more parties
What type of contract assigns the prime contractor responsibility
for developing the entire project?
Turnkey
Design/build
Lump sum
