Virginia Contractor's Exam Preparation
VIRGINIA CONTRACTOR'S EXAM PREPARATION WITH COMPLETE QUESTIONS
AND CORRECT ANSWERS| BRAND NEW VERSION!
An appeal of the local building official's decision to refuse to grant a modification
to the USBC MUST be made to the local building board within a MAXIMUM of
how many days? - Correct Answer-90 days.
A building official MUST issue a certificate of occupancy for a building that meets
all the requirements for a certificate within a MAXIMUM of how many working
days after the certificate was requested? - Correct Answer-5
Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the fund balance is less than - Correct Answer-$400,000.
Contractors who are assessed a fee to support the Transaction Recovery Fund
MUST pay this fee within a MINIMUM of how many days from when the
assessment fee notice was mailed? - Correct Answer-45 days.
A verified claim for payment from the Transaction Recovery Fund MUST occur
within a MAXIMUM of what period of time from the date the claimant was
awarded a final judgment? - Correct Answer-12 months.
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - Correct Answer-attorneys' fees.
A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund? - Correct Answer-Residential only
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, Virginia Contractor's Exam Preparation
An appeal of a final decision of a county on an erosion control plan MUST be filed
within a MAXIMUM of how many days? - Correct Answer-30 days.
Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? - Correct Answer-30
days.
Which of the following statements about a sole proprietorship is TRUE? - Correct
Answer-The business, or any part of it, can be sold, altered, or exchanged at will.
What type of business organization allows people to share financial resources? -
Correct Answer-Partnership
All of the following are considered general conditions that could affect costs
directly associated with a specific project EXCEPT - Correct Answer-profit margin.
The two basic laws of construction estimating are - Correct Answer-low estimates
decrease profits and high estimates decrease volume.
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - Correct Answer-Labor burden.
A reason for using a lower than usual profit markup for a specific project could be
to - Correct Answer-cover company overhead costs
2|Page
VIRGINIA CONTRACTOR'S EXAM PREPARATION WITH COMPLETE QUESTIONS
AND CORRECT ANSWERS| BRAND NEW VERSION!
An appeal of the local building official's decision to refuse to grant a modification
to the USBC MUST be made to the local building board within a MAXIMUM of
how many days? - Correct Answer-90 days.
A building official MUST issue a certificate of occupancy for a building that meets
all the requirements for a certificate within a MAXIMUM of how many working
days after the certificate was requested? - Correct Answer-5
Contractors will be assessed a fee for the Transaction Recovery Fund whenever
the fund balance is less than - Correct Answer-$400,000.
Contractors who are assessed a fee to support the Transaction Recovery Fund
MUST pay this fee within a MINIMUM of how many days from when the
assessment fee notice was mailed? - Correct Answer-45 days.
A verified claim for payment from the Transaction Recovery Fund MUST occur
within a MAXIMUM of what period of time from the date the claimant was
awarded a final judgment? - Correct Answer-12 months.
Payments made by the Transaction Recovery Fund to claimants may include an
amount for - Correct Answer-attorneys' fees.
A contract for which of the following types of structures may be subject to
recovery from the Transaction Recovery Fund? - Correct Answer-Residential only
1|Page
, Virginia Contractor's Exam Preparation
An appeal of a final decision of a county on an erosion control plan MUST be filed
within a MAXIMUM of how many days? - Correct Answer-30 days.
Temporary erosion and sediment control measures MUST be removed within a
MAXIMUM of how many days after the final site stabilization? - Correct Answer-30
days.
Which of the following statements about a sole proprietorship is TRUE? - Correct
Answer-The business, or any part of it, can be sold, altered, or exchanged at will.
What type of business organization allows people to share financial resources? -
Correct Answer-Partnership
All of the following are considered general conditions that could affect costs
directly associated with a specific project EXCEPT - Correct Answer-profit margin.
The two basic laws of construction estimating are - Correct Answer-low estimates
decrease profits and high estimates decrease volume.
What should be added to wage rates to ensure accuracy in estimating labor for a
project? - Correct Answer-Labor burden.
A reason for using a lower than usual profit markup for a specific project could be
to - Correct Answer-cover company overhead costs
2|Page
