Naslca Virginia Exam Practice QUESTIONS & ANSWERS(2024 LATEST UPDATE)RATED A+
4 views 0 purchase
Course
Virginia hic
Institution
Virginia Hic
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of license? - ANSWER $500 fine per day for each day of violation plus penalties for a misdemeanor.
All Class A contractor licensure applications MUST include - ANSWER information on the knowledge, skills, a...
Naslca Virginia Exam Practice
QUESTIONS & ANSWERS(2024 LATEST
UPDATE)RATED A+
What is the MAXIMUM penalty for a contractor who undertakes work without the proper class of
license? - ANSWER $500 fine per day for each day of violation plus penalties for a misdemeanor.
All Class A contractor licensure applications MUST include - ANSWER information on the knowledge,
skills, and abilities of the applicant.
What is the PRIMARY purpose of licensing? - ANSWER Protect the health and welfare of the public.
When a claimant is paid funds from the Contractors Recovery Trust Fund - ANSWER the contractor's
license is revoked. !!!
The application for licensure MUST include - ANSWER the business address of the proposed designated
employee.
Which of the following is a requirement for a joint venture? - ANSWER Either the joint venture or each
contracting party of the joint venture must be licensed.
All of the following must be licensed EXCEPT - ANSWER a material supplier who advises a contractor.
How much is the Class A initial license fee? - ANSWER $200
A licensee's name change MUST be reported to the Board within a MAXIMUM of how many days? -
ANSWER 30 days
, According to the Board Rules and Regulations, a full-time employee is one who works a MINIMUM of
how many hours per week? - ANSWER 30 hours.
A firm desiring to be licensed as a Class B contractor MUST have a MINIMUM net worth of - ANSWER
$15,000.
According to the Board Rules and Regulations, which of the following could be a qualified individual? -
ANSWER Any full-time employee.
Temporary erosion and sediment control measures MUST be removed within a MAXIMUM of how many
days after the final site stabilization? - ANSWER 30 days.
Which of the following statements about a sole proprietorship is TRUE? - ANSWER The business, or any
part of it, can be sold, altered, or exchanged at will.
What type of business organization allows people to share financial resources? - ANSWER Partnership.
Which of the following estimating methods is typically used by the architect rather than the contractor? -
ANSWER Conceptual estimate.
Equipment needs for a project are BEST estimated by - ANSWER calculating the number of hours or days
it is needed.
What should be added to wage rates to ensure accuracy in estimating labor for a project? - ANSWER
Labor burden.
A reason for using a lower than usual profit markup for a specific project could be to - ANSWER cover
company overhead costs.
Which of the following is a TRUE statement about estimating? - ANSWER Both overestimating and
underestimating costs could have disastrous consequences.
, A contractor should do all of the following when estimating a project EXCEPT - ANSWER assume ideal
conditions
What MUST be included in an estimate for a job? - ANSWER Materials, labor, equipment, and overhead
costs.
Costs that relate to construction activity but are NOT easily identifiable for a specific project are
considered - ANSWER project overhead.
All of the following are considered general conditions that could affect costs directly associated with a
specific project EXCEPT - ANSWER profit margin
The two basic laws of construction estimating are - ANSWER low estimates decrease profits and high
estimates decrease volume.
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.
Generally, who is responsible for ensuring that a project meets all zoning requirements? - ANSWER
Project owner.
A bid that does NOT specifiy how long it remains open or in effect is considered to be open for - ANSWER
a reasonable amount of time.
A contractor is about to sign an agreement with a representative of a corporation. The contractor should
- ANSWER verify that the representative has the authority to bind the corporation.
What may be covered by an allowance in a contract? - ANSWER Light fixture costs
The prime contractor is one who - ANSWER is responsible for the overall construction of the project.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Olivegrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
