Page 1 of 68
COMMERCIAL CONTRACTOR PRACTICE EXAM
QUESTIONS AND CORRECT DETAILED SOLUTIONS LATEST
UPDATE JUST RELEASED THIS YEAR
Question: What is the name of the process when a facilitator meets with the major participants
in a project, prior to the commencement of the project, to identify the shared goals of all
participants?
A. Partnering
B. Arbitration
C. Mediation
D. Claims resolution - CORRECT ANSWER✔✔A.Partnering
Question: How much is an employer who withheld employee Medicare and Social Security
taxes or $765 REQUIRED to send to the IRS?
A. $145
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B. $620
C. $765
D. $1,530 - CORRECT ANSWER✔✔D.$1530
Question: Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years?
A. 3 years
B. 7 years
C. 15 years
D. 30 years - CORRECT ANSWER✔✔D.30 years
Q:An employee earns $12.50 per hour. What is the gross pay of this non-exempt employee who
works 45 hours during a holiday week, and receives 8 hours additional pay for the holiday?
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A.$562.50
B.$662.50
C.$693.75
D.$743.75 - CORRECT ANSWER✔✔C.$693.75
Question: Which of the following statements about a sole proprietorship is TRUE?
A. The business, or any part of it, can be sold, altered, or exchanged at will.
B. The business will survive the death of the owner.
C. It provides the owner with limited liability for debts and actions of the business
D. The business is not subject to Federal income tax. - CORRECT ANSWER✔✔A.The business, or
any part of it, can be sold, altered, or exchanged at will.
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Question: What can be determined by summing the project activities into an overall schedule?
A. The total resource demand for a project at any given time.
B.The total amount that the company will earn from the job.
C.The total insurance needs of the company.
D.The total man-hours needed for all projects. - CORRECT ANSWER✔✔A.The total resource
demand for a project at any given time.
Question: What MUST be done with the taxes withheld by an employer between the time that
they are withheld and the time that they are sent to the IRS?
A. The taxes can be kept in the general company account.
COMMERCIAL CONTRACTOR PRACTICE EXAM
QUESTIONS AND CORRECT DETAILED SOLUTIONS LATEST
UPDATE JUST RELEASED THIS YEAR
Question: What is the name of the process when a facilitator meets with the major participants
in a project, prior to the commencement of the project, to identify the shared goals of all
participants?
A. Partnering
B. Arbitration
C. Mediation
D. Claims resolution - CORRECT ANSWER✔✔A.Partnering
Question: How much is an employer who withheld employee Medicare and Social Security
taxes or $765 REQUIRED to send to the IRS?
A. $145
, Page 2 of 68
B. $620
C. $765
D. $1,530 - CORRECT ANSWER✔✔D.$1530
Question: Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years?
A. 3 years
B. 7 years
C. 15 years
D. 30 years - CORRECT ANSWER✔✔D.30 years
Q:An employee earns $12.50 per hour. What is the gross pay of this non-exempt employee who
works 45 hours during a holiday week, and receives 8 hours additional pay for the holiday?
, Page 3 of 68
A.$562.50
B.$662.50
C.$693.75
D.$743.75 - CORRECT ANSWER✔✔C.$693.75
Question: Which of the following statements about a sole proprietorship is TRUE?
A. The business, or any part of it, can be sold, altered, or exchanged at will.
B. The business will survive the death of the owner.
C. It provides the owner with limited liability for debts and actions of the business
D. The business is not subject to Federal income tax. - CORRECT ANSWER✔✔A.The business, or
any part of it, can be sold, altered, or exchanged at will.
, Page 4 of 68
Question: What can be determined by summing the project activities into an overall schedule?
A. The total resource demand for a project at any given time.
B.The total amount that the company will earn from the job.
C.The total insurance needs of the company.
D.The total man-hours needed for all projects. - CORRECT ANSWER✔✔A.The total resource
demand for a project at any given time.
Question: What MUST be done with the taxes withheld by an employer between the time that
they are withheld and the time that they are sent to the IRS?
A. The taxes can be kept in the general company account.
