TN BUSINESS AND LAW EXAM 190 FINAL
PAPER 2026 SOLVED QUESTIONS AND FULL
SOLUTION UPDATED
◉ Bids for the services of a construction manager must contain a bid
bond in the amount of (blank) of the work being bid
Answer: 10%
◉ Of the following, (blank) is not part of project overhead?
Answer: clerical pay
◉ An employee is generally subject to the business' instructions
about all except...
Answer: right to control
◉ When negotiating, one should
Answer: aim high
◉ A job has direct costs of $198,325, project overhead of 9.2%,
company overhead of 13.9%, and a desired profit of 10.7%. What
will the correct bid be?
Answer: $299,584
,(9.2 + 13.9 + 10.7 = 33.8%.
Therefore, the direct costs are 66.2% of the bid. $198,325 / .662 =
$299,584)
◉ Generally, which of the following is not a business tax?
Answer: property tax
◉ The (blank) bond guarantees that the contractor has paid the
subcontractors
Answer: payment
◉ The (blank) states that one cannot file against a public property
Answer: miller act
◉ Corporations are required to make estimated tax payments if
expected owed tax is
Answer: $500
◉ Which of the following items are not added after estimating
materials and labor?
Answer: material consumption
◉ A surety bond is typically a (blank) party bond
, Answer: three
◉ Generally, who is protected by progress payments?
Answer: owner
◉ Minimum wage is set at (blank) per hour for employees who are
over 20 years of age
Answer: $7.25
◉ Within how many days after a notice of completion is filed for
residential property, must a lien claim be filed?
Answer: 10 days
◉ Depreciation is considered a (blank) expense
Answer: non cash
◉ Which of the following is used to obtain an EIN?
Answer: SS-4
◉ To be legal, a contract must not...
Answer: be impossible to perform
PAPER 2026 SOLVED QUESTIONS AND FULL
SOLUTION UPDATED
◉ Bids for the services of a construction manager must contain a bid
bond in the amount of (blank) of the work being bid
Answer: 10%
◉ Of the following, (blank) is not part of project overhead?
Answer: clerical pay
◉ An employee is generally subject to the business' instructions
about all except...
Answer: right to control
◉ When negotiating, one should
Answer: aim high
◉ A job has direct costs of $198,325, project overhead of 9.2%,
company overhead of 13.9%, and a desired profit of 10.7%. What
will the correct bid be?
Answer: $299,584
,(9.2 + 13.9 + 10.7 = 33.8%.
Therefore, the direct costs are 66.2% of the bid. $198,325 / .662 =
$299,584)
◉ Generally, which of the following is not a business tax?
Answer: property tax
◉ The (blank) bond guarantees that the contractor has paid the
subcontractors
Answer: payment
◉ The (blank) states that one cannot file against a public property
Answer: miller act
◉ Corporations are required to make estimated tax payments if
expected owed tax is
Answer: $500
◉ Which of the following items are not added after estimating
materials and labor?
Answer: material consumption
◉ A surety bond is typically a (blank) party bond
, Answer: three
◉ Generally, who is protected by progress payments?
Answer: owner
◉ Minimum wage is set at (blank) per hour for employees who are
over 20 years of age
Answer: $7.25
◉ Within how many days after a notice of completion is filed for
residential property, must a lien claim be filed?
Answer: 10 days
◉ Depreciation is considered a (blank) expense
Answer: non cash
◉ Which of the following is used to obtain an EIN?
Answer: SS-4
◉ To be legal, a contract must not...
Answer: be impossible to perform
