WV BUSINESS LAW PRACTICE EXAM FOR CONTRACTORS PRACTICE QUESTIONS AND ANSWERS (100% PASS
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Module
Contractors License
Institution
Contractors License
WV BUSINESS LAW PRACTICE EXAM FOR CONTRACTORS
PRACTICE QUESTIONS AND ANSWERS (100% PASS)
1. What type of contract requires the contractor to be responsible for both the
engineering and construction of a project?
a. Traditional
b. Design build
c. Turn key
d. Concession - Answer️️ -b. Desi...
d. Whole build system - Answer✔️✔️-a. Work breakdown structure
4. Overtime wages are paid at what percentage of the normal wage rate? -
Answer✔️✔️-c. 150%
5. Using the percentage method of withholding, what is the income tax deducted
form an employees wages that earns $1,500 per pay period, is paid bi-weekly, is
single and claims no deductions?
a. $82.95
b. 165.90
c. $194.50
d. $214.50 - Answer✔️✔️-c. $194.50
6. What is the penalty for submitting an IRS payroll tax deposit in the amount of
$5,000 that is 2 days late?
a. $100
b. $250
c. $500
2
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