TN Contractors License Exam-Questions with Correct Answers/ Verified/ 100% Pass
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Course
TN Contractor
Institution
TN Contractor
Entrepreneur -️️A person who starts up and takes on the risk of a business
Business Plan -️️Cover Page, Executive Summary, Company Summary, Products/Services,
market analysis, market strategy, finanicial plan
Sole Proprietorship -️️Single owner, unlimited personal liability,
Partner...
TN Contractors License Exam-Questions with Correct Answers/
Verified/ 100% Pass
Entrepreneur - ✔️✔️A person who starts up and takes on the risk of a business
Business Plan - ✔️✔️Cover Page, Executive Summary, Company Summary, Products/Services,
market analysis, market strategy, finanicial plan
Sole Proprietorship - ✔️✔️Single owner, unlimited personal liability,
Partnership - ✔️✔️Two or more owners, unlimited personal liability
C Corporation - ✔️✔️The most common type of corporation, which is a legal business entity that
offers limited liability to all of its owners, who are called stockholders
S corporation - ✔️✔️A unique government creation that looks like a corporation but is taxed like
sole proprietorships and partnerships
LLC (Limited Liability Company) - ✔️✔️A company similar to an S corporation but without the
special eligibility requirements.
Contractors License - ✔️✔️Needed for those doing work over $25,000 - includes subs in MEP
Limited Licensed Plumber or Electrician - ✔️✔️License for plumbers and electricans doing work
under $25,000
Subrogation - ✔️✔️Insurance company right to recover cost of loss from negligent party
Builders Risk Insurance - ✔️✔️Insurance coverage for construction project in process
Inland Marine/Equipment Theft Insurance - ✔️✔️Property insurance for equipment and tools
Equipment floater policy - ✔️✔️Direct loss coverage for equipment onsite and in transit
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