1|Page
Mississippi Contractors Licensing Exam Preparation
||Verified Exam!!|| Most Recent Exam Actual Complete
Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+||Newest Exam!!
________ ________ Insurance will safeguard the
contractor just in case there is devastation or loss to a
project before completion. - Answer-Builders Risk
_______ _______ will keep the claim amount from being
more than the dollar amount covered by regular general
liability or vehicle insurance. - Answer-Umbrella Liability
Name one of the people responsible for creating an
estimate for a job. - Answer-Project Manager
Superintendent
The part of a project, when creating an estimate, that is
the toughest to plan for is the _______ _______. -
Answer-Labor Productivity
,2|Page
The percentage of lumber used for framing that is typically
wasted is _________. - Answer-10%
Name one of the fundamental types of scheduling. -
Answer-Bar Chart, Network Diagram, Critical Path
Schedule
A ______ bond will ensure the contractor that wins the
project will draw up and put into action the contract at the
bid price and submit performance and payment bonds. -
Answer-Bid
A ______ bond promises that the contract will stay within
the bounds of the contract until completion. - Answer-
Performance
A bond that ensures the subcontractors and suppliers for a
specific project will get paid and will liens from being
enforced on said project. - Answer-Labor and Material
Payment
,3|Page
A _________ will show all of the activities that have to be
completed in order for a project to be completed. -
Answer-Work Breakdown Structure (WBS)
When working on a project there are certain things that
must be done but are not on a deadline to complete,
meaning it has a flexible schedule. What term would
describe that flexibility? - Answer-Float Time
A __________ _________ contract will allow the Owner a
choice to reimburse the contractor when supplies are
utilized within the scope of the project instead of when
they are on the property. - Answer-Fixed Price
Just In Time delivery has a couple of benefits. Name one
of them. - Answer-Reduces risk of loss,
Prevents job site congestion
Submittals that are to be provided in the last design phase
include: - Answer-Charts
Drawings
Samples
, 4|Page
A Free On Board (FOB) Job Site increases the
contractor's liability of supplies being lost or damaged. -
Answer-False
A _______ ________ will keep track of the submittal
process to anyone associated with the project, such as
subcontractors or orders for materials. - Answer-
Expediting Log
A _______ ______ will keep track of a submittal and
number each of them. - Answer-Submittal Register
A ______ ______ payment is figured in such a way that
could sometimes cause an overage of the amount actually
due on the contract terms. - Answer-Lump Sum
A _______ , agreed upon in the contract, will be withheld
from the amount billed to ensure the project will be
completed before it is released. - Answer-Retention
Mississippi Contractors Licensing Exam Preparation
||Verified Exam!!|| Most Recent Exam Actual Complete
Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+||Newest Exam!!
________ ________ Insurance will safeguard the
contractor just in case there is devastation or loss to a
project before completion. - Answer-Builders Risk
_______ _______ will keep the claim amount from being
more than the dollar amount covered by regular general
liability or vehicle insurance. - Answer-Umbrella Liability
Name one of the people responsible for creating an
estimate for a job. - Answer-Project Manager
Superintendent
The part of a project, when creating an estimate, that is
the toughest to plan for is the _______ _______. -
Answer-Labor Productivity
,2|Page
The percentage of lumber used for framing that is typically
wasted is _________. - Answer-10%
Name one of the fundamental types of scheduling. -
Answer-Bar Chart, Network Diagram, Critical Path
Schedule
A ______ bond will ensure the contractor that wins the
project will draw up and put into action the contract at the
bid price and submit performance and payment bonds. -
Answer-Bid
A ______ bond promises that the contract will stay within
the bounds of the contract until completion. - Answer-
Performance
A bond that ensures the subcontractors and suppliers for a
specific project will get paid and will liens from being
enforced on said project. - Answer-Labor and Material
Payment
,3|Page
A _________ will show all of the activities that have to be
completed in order for a project to be completed. -
Answer-Work Breakdown Structure (WBS)
When working on a project there are certain things that
must be done but are not on a deadline to complete,
meaning it has a flexible schedule. What term would
describe that flexibility? - Answer-Float Time
A __________ _________ contract will allow the Owner a
choice to reimburse the contractor when supplies are
utilized within the scope of the project instead of when
they are on the property. - Answer-Fixed Price
Just In Time delivery has a couple of benefits. Name one
of them. - Answer-Reduces risk of loss,
Prevents job site congestion
Submittals that are to be provided in the last design phase
include: - Answer-Charts
Drawings
Samples
, 4|Page
A Free On Board (FOB) Job Site increases the
contractor's liability of supplies being lost or damaged. -
Answer-False
A _______ ________ will keep track of the submittal
process to anyone associated with the project, such as
subcontractors or orders for materials. - Answer-
Expediting Log
A _______ ______ will keep track of a submittal and
number each of them. - Answer-Submittal Register
A ______ ______ payment is figured in such a way that
could sometimes cause an overage of the amount actually
due on the contract terms. - Answer-Lump Sum
A _______ , agreed upon in the contract, will be withheld
from the amount billed to ensure the project will be
completed before it is released. - Answer-Retention
