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VA Contractors General (Class A or B) Latest
Update 2024-2025 50 Questions and 100%
Verified Correct Answers Actual Exam
Guaranteed A+ Brand NEW!!!!!!!
A bid does NOT specify how long it remains open or in effect is considered to be open
for... - CORRECT ANSWER: a reasonable amount of time
A company's net worth is equal to... - CORRECT ANSWER: owner's equity
A contract refers to an insurance agreement that the contractor is REQUIRED to have.
This is considered... - CORRECT ANSWER: Part of the contract
A contractor is about to sign an agreement with a representative of a corporation. The
contractor should... - CORRECT ANSWER: verify that the representative has the
authority to bind the corporation
A contractor plans to use materials or methods other than those standard in the
industry. The contractor should... - CORRECT ANSWER: specifically state this in the
agreement
A contractor should do all of the following when estimating a project EXCEPT... -
CORRECT ANSWER: assume ideal conditions
A contractor uses funds paid by a project owner to purchase materials to start a different
project. The laborers for the original project do NOT get paid by the contractor. Under
the lien law, this is considered... - CORRECT ANSWER: Intent to defraud by the
contractor
A reason for using a lower than usual profit markup for a specific project could be to... -
CORRECT ANSWER: cover company overhead costs
, All of the following are advantages of good scheduling EXCEPT... - CORRECT
ANSWER: reduced training costs
All of the following are considered general conditions that could affect costs directly
associated with a specific project EXCEPT... - CORRECT ANSWER: profit margins
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - CORRECT
ANSWER: Identifies activities that MUST be completed before other activities can occur
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... - CORRECT
ANSWER: cost plus contract
An employee can request to receive advance earned income credit on Form... -
CORRECT ANSWER: W-5
An employer who withholds more than $1,000 per month from employees for state
taxes MUST pay those taxes at LEAST... - CORRECT ANSWER: two times per week
An important factor in ensuring that a schedule is followed is to... - CORRECT
ANSWER: make sure the superintendent agrees with it
An owner hires a construction manager for a project. Which of the following is TRUE
with regard to subcontractors? - CORRECT ANSWER: The subcontractors are prime
contractors
Approximately how many materials are currently on the EPA hazardous materials list? -
CORRECT ANSWER: 500
At LEAST how often MUST an employee report information on the number of
employees and the number of new hires in order to meet the requirements of the Child
Support Enforcement Act? - CORRECT ANSWER: every 2 months
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