FLORIDA CONTRACTORS MANUAL 2024 ACTUAL
EXAM (2 LATEST VERSIONS) ACTUAL EXAM
COMPLETE 400 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
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All of the following are true regarding a general partnership except: -
✔✔ANSWER✔✔->>>>>>>>There is a potential taxation on earnings
A joint venture is: - ✔✔ANSWER✔✔->>>>>>>>Two or more persons or entities
jointly seeking a profit in some specific venture without an actual partnership or
corporation designation
,Which of the following is true regarding a joint venture? - ✔✔ANSWER✔✔-
>>>>>>>>A joint venture is generally limited to a single transaction
One advantage of a standard corporation is: - ✔✔ANSWER✔✔->>>>>>>>Fringe
benefits are tax deductible
Which of the following is an advantage of an S Corporation? - ✔✔ANSWER✔✔-
>>>>>>>>As sole proprietors, income or losses are reported as to an individual
taxpayer.
Which of the following is an advantage of a regular corporation? -
✔✔ANSWER✔✔->>>>>>>>tax deductible fringe benefits
Which of the following statements is true concerning an S Corporation? -
✔✔ANSWER✔✔->>>>>>>>Only individuals or estates can be shareholders
Occupational licenses may be required for every business and are issued by the: -
✔✔ANSWER✔✔->>>>>>>>Counties and Cities
A person may engage in business under a fictitious name with the: -
✔✔ANSWER✔✔->>>>>>>>Division of Corporations
How long is a registered fictitious name valid for? - ✔✔ANSWER✔✔->>>>>>>>5
years
,Unless you are a sole proprietor, federal form SS-4 must be filed on or before the :
- ✔✔ANSWER✔✔->>>>>>>>Seventh day after the date on which business begins
According to the Florida Contractors Manual, a partnership can be dissolved for all
of the following except : - ✔✔ANSWER✔✔->>>>>>>>By order of the Florida DBPR
Which agency oversees engineers in the state of florida? - ✔✔ANSWER✔✔-
>>>>>>>>Board of Professional Engineers
How are Florida sales tax reported and paid? - ✔✔ANSWER✔✔-
>>>>>>>>Reported on a form DR-15-CS and paid on a monthly basis
Florida Statues (Chapter 489) provides for the licensure and regulation of all types
of contractors in Florida and are divided into: - ✔✔ANSWER✔✔-
>>>>>>>>Construction contracting, electrical and alarm systems contracting, and
septic tank contracting
Which of the following must be true for a person to qualify for a state certification
of competency? - ✔✔ANSWER✔✔->>>>>>>>Be of good moral character, be at
least 18 years of age and pass an examination
Which of the following licenses and/or certifications is necessary to engage in the
business of installation, improvement, repair or maintenance of any tubing, pipe
or similar conduit used to transport gas for medical purposes? - ✔✔ANSWER✔✔-
>>>>>>>>a plumbing contractor with medical gas certification
, All certified contractors must carry and maintain what type of insurance in order
to work in the state of Florida? - ✔✔ANSWER✔✔->>>>>>>>Public liability and
property damage in the amounts as set by the board
As a prerequisite to initial licensure or the renewal of a license as a certified or
registered contractor, general and building contractors must carry a minimum
insurance amount of: - ✔✔ANSWER✔✔->>>>>>>>$300,000 liability/ $50,000
property damage
What is the minimum allowable liability insurance policy for plumbing
contractors? - ✔✔ANSWER✔✔->>>>>>>>$100,000
Every certified and registered contractor must complete a minimum of _______
hours of continuing education during every two year license cycle. -
✔✔ANSWER✔✔->>>>>>>>14
Contractors licensed pursuant to Chapter 489, must maintain complete financial
and business records kept in the regular course of business for the immediately
preceding _____ - ✔✔ANSWER✔✔->>>>>>>>3 years
According to the Contractors Manual, which of the following is required to be
licensed under Chapter 489.103 of the Florida Statutes? - ✔✔ANSWER✔✔-
>>>>>>>>Persons performing small remodeling jobs with a contract price of less
than $2,500
Which of the following construction projects requires a licensed general
contractor? - ✔✔ANSWER✔✔->>>>>>>>Service Stations
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