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Contractors Business Law Exam questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating
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Contractors Business Law Exam questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

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  • August 5, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • contractors businesslaw exam
  • contractors business law exam questions and correc

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  • Commercial Construction
  • Commercial Construction

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Contractors Business/Law Exam
A 1120-S form is used with with of the following business entities for filing the companies
business income tax returns? - ANS-Sub Chapter S Corporation

A claimant in Utah MUST file notice to hold and claim a lien within how many days after a
substantial protion of the work is completed in a residence? - ANS-180 Days

A company will NOT need to file a report for an injury that results in - ANS-Only a minor cut or
scratch

A laborer is NOT considered an employee if you - ANS-Provide a 1099

A laborer is NOT considered an employee if you - ANS-Provide a 1099

A lien is placed on a property, and it was paid so the property can be sold. How many days does
the lien holder have to remove it? - ANS-10 days

A preliminary notice should be filed by a contractor how many days after the commencement of
the day of the project? - ANS-20 days

A qualifier must prove DOPL that? - ANS-that they have a management position

A subcontractor has not been paid on a federal job by XYZ General Contractors. According to
the MILLER ACT how long from the completion date of the job must the subcontractor wait
before filing a lawsuit against the bond XYZ General Contractors? - ANS-90 days

According to the OSHA which is the most hazardous? - ANS-Lead

According to Utah Mechanics Lien Laws, when satisfying liens, who would take first priority of
payment? - ANS-Laborers who worked on job

After hiring a disabled person, which of the following can't you do, according to the American
with Disabilities Act? - ANS-Require a medical examination of just the person you suspect is
disabled.

After the division receives an application for licensure, how many days does the division have to
decide whether to issue a license to that applicant? - ANS-5 days# NASLCA 2nd edition pg
E-34 58-55-403

All of the following are considered source documents in an accounting system EXCEPT: -
ANS-Tax Returns

, An employer fails to provide safety equipment for a project and an employee is injured. What
additional percentage of the workers compensation claim is the employee entitled to? - ANS-15

An employer is required to work overtime but is not paid for the overtime worked. If the secretary
of labor brings suit against the employer what amount can the secretary require the employer to
pay? - ANS-Twice the overtime pay

An employer must determine how much income tax to withhold from each employees wages.
What is the document used to determine the amount to be withheld? - ANS-Form W-4

An employer must submit a completed I-9 form for all employees within how may days of hire
date? - ANS-3 days

An owner requires a contractor to indemnify the owner for damages of extra costs incurred. If
the contractor wants the contract he should? - ANS-have the contract reviewed by an insurance
agent

By what date must employees send W-2 statements to employees who have had taxes withheld
and who are still working for the employer as of December 31st? - ANS-January 31st

Construction Contractor's licenses expire on November 30th of each - ANS-Odd numbered year

Contractor's license number must be on all of the following except? - ANS-Bank financing
agreeements (loan documents)

Contractors may be required to be bonded before a project can begin. When required what type
of bond is used to guarantee the completion of the project? - ANS-Performance Bond

Direct costs are those directly linked with a particular project. Which of the following would NOT
be considered a direct cost? - ANS-warehouse rental

Employers who violate the overtime pay requirements are subject to a civil money penalty of up
to how much? - ANS-$1,100

General costs that are designated for specific job site are considered to be - ANS-project
overhead

Given the following information figure this companies Quick Ratio - ANS-1.2 ratio

How do you properly educate your employees on hazardous material - ANS-MSDS

How long does form 301 have to be kept? - ANS-5 years

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