VA Contractors: General (Class A or B) Exam with Solutions 2024

VA Contractors: General (Class A or B) Exam with Solutions 2024 Which of the following estimating methods is typically used by the architect rather than the contractor? - Answer -Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - Answer -cost plus contract Equipment needs for a project are BEST estimated by... - Answer -Calculating the number of hours or days it is needed What type of insurance is needed for a partnership to insure that the business does NOT go out of business if one partner dies? - Answer -Key man An owner hires a construction manager for a project. Which of the following is TRUE with regard to subcontractors? - Answer -The subcontractors are prime contractors What protects a contractor from risk? - Answer -Insurance An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - Answer -Identifies activities that MUST be completed before other activities can occur What may be covered by an allowance in a contract? - Answer -Light fixture costs Which of the following is considered ethical behavior? - Answer -Failing to disclose one subcontractor's bid to another Compensation paid to independent contractors is reported on Form... - Answer -1099 The BEST business practice for special-ordered materials is to... - Answer -put the order requirements in writing A contract refers to an insurance agreement that the contractor is REQUIRED to have. This is considered... - Answer -Part of the contract Records of an employee's exposure to hazar