FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERIFIED BY EXPERTS
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FLORIDA CONTRACTORS
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FLORIDA CONTRACTORS
FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERIFIED BY EXPERTS FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERIFIED BY EXPERTS FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERIFIED BY EXPERTS FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERIFIED BY EXPERTS FLORIDA CONTRACTORS QUESTIONS WITH ANSWERS VERI...
FLORIDA
CONTRACTORS QUESTIONS WITH
ANSWERS VERIFIED BY EXPERTS
All of the following are true regarding a general partnership except: - CORRECT
ANSWER>>>>There is a potential taxation on earnings
A joint venture is: - CORRECT 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? - CORRECT ANSWER>>>>A
joint venture is generally limited to a single transaction
One advantage of a standard corporation is: - CORRECT ANSWER>>>>Fringe benefits
are tax deductible
Which of the following is an advantage of an S Corporation? - CORRECT
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? - CORRECT
ANSWER>>>>tax deductible fringe benefits
Which of the following statements is true concerning an S Corporation? - CORRECT
ANSWER>>>>Only individuals or estates can be shareholders
Occupational licenses may be required for every business and are issued by the: -
CORRECT ANSWER>>>>Counties and Cities
A person may engage in business under a fictitious name with the: - CORRECT
ANSWER>>>>Division of Corporations
How long is a registered fictitious name valid for? - CORRECT ANSWER>>>>5 years
Unless you are a sole proprietor, federal form SS-4 must be filed on or before the : -
CORRECT 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 : - CORRECT ANSWER>>>>By order of the Florida DBPR
Which agency oversees engineers in the state of florida? - CORRECT
ANSWER>>>>Board of Professional Engineers
, How are Florida sales tax reported and paid? - CORRECT 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: - CORRECT 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? - CORRECT 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? - CORRECT
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? - CORRECT 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: - CORRECT ANSWER>>>>$300,000 liability/ $50,000 property damage
What is the minimum allowable liability insurance policy for plumbing contractors? -
CORRECT ANSWER>>>>$100,000
Every certified and registered contractor must complete a minimum of _______ hours of
continuing education during every two year license cycle. - CORRECT
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
_____ - CORRECT 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? - CORRECT 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? -
CORRECT ANSWER>>>>Service Stations
Which of the following construction projects requires a licensed contractor? - CORRECT
ANSWER>>>>Bank
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