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Maryland Home Improvement MHIC Exams compilation bundle answered

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Maryland Home Improvement MHIC Exams compilation bundle answered 2025 questions updated 100% correct

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MHIC Exam questions with complete solution 2025 update

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Top reasons businesses fail (8 examples, two umbrella reasons) - CORRECT ANSWER poor planning + inadequate management (poor sales, competitive weakness, high operating expenses, difficulty collecting invoices, inventory problems, too many fixed assets, poor location, fraud) What is an entrepreneur? - CORRECT ANSWER individual engaged in strategic activities that begin & develop a business, created to build long-term value and steady cash flow What are the functions of a business pl...

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MHIC NASCLA CONTRACTORS EXAM REVIEW questions with complete solution 2025 update

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Yes - CORRECT ANSWER Does home improvement include work done on an individual condominium unit? Yes - CORRECT ANSWER Does home improvement include work done on a swimming pool? Yes - CORRECT ANSWER Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subcontractors - CORRECT ANSWER Contractors who can only contract with a contractor or a subcontractor are: Cannot - CORRECT ANSWER A county or municipality in Maryland _____________ requir...

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MHIC Exam Study questions with complete solution 2025 update

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Activity Ratio - CORRECT ANSWER A formula that measures how effectively a company manages it's credit. It's calculated by dividing sales per day into current receivables. Allowance - CORRECT ANSWER A specified amount designated in an estimate for items that are not specified in the project plans, such as finished materials, (carpeting, fixtures, lighting, etc.) How many members are there in the MD Home Improvement Commission? - CORRECT ANSWER 9 What is the length of term fo...

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MHIC Exam 2025 questions with complete solution Workers Comp Insurance is Required for Employers

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Business Types not Required to have EIN # - CORRECT ANSWER -sole proprietorships with no employees -LLCs with single owner S corporation - CORRECT ANSWER a business entity that meets certain requirements to be able to inherit the protective benefits of being a corporation, but be taxed as a partnership. - must be domestically incorporated - must have only a single type of stock and less than 100 shareholders. - shareholder distributions are taxed on the individual shareholder tax re...

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Mhic exam questions with complete solution 2025 update

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home improvement - CORRECT ANSWER The Home Improvement Law defines the term "home improvement" very broadly in order to include a number of activities: The addition to or alteration, conversion, improvement, modernization, remodeling, repair, or replacement of a building or part of a building that is used or was designed to be used as a residence or dwelling place or a structure adjacent to that building or an improvement to land adjacent to the building. This means that work ...

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MHIC EXAM MD Inspection Study Questions with complete solution 2025 update

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How many licenses are there? - CORRECT ANSWER 2 Contractor and SubContractor Who can request a Mechanics Lien? - CORRECT ANSWER Contractor or SubContractor How many days do you have to issue a Mechanics Lien - CORRECT ANSWER 180 Days How many days do you have to issue a notice of a Mechanics Lien? - CORRECT ANSWER 120 days What is the % of value must the property have before you are eligible to issue a ML? - CORRECT ANSWER 15% How many days must you keep records if someone is a...

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MHIC EXAM questions with complete solution 2025 update

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What parties must sign a Home Improvement contract? - CORRECT ANSWER Homeowner and Contractor How many members are in the Commission? - CORRECT ANSWER 9 Where is the office of the Commission located? - CORRECT ANSWER Baltimore City Who is responsible for the operations of the Commission? - CORRECT ANSWER Executive Director What is the best method to give an estimate? - CORRECT ANSWER The Quantity take off method How many Commission members MUST be present at a hearing? - CORREC...

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MHIC License Exam questions with complete solution 2025 update

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Top reasons businesses fail (8 examples, two umbrella reasons) - CORRECT ANSWER poor planning + inadequate management (poor sales, competitive weakness, high operating expenses, difficulty collecting invoices, inventory problems, too many fixed assets, poor location, fraud) What is an entrepreneur? - CORRECT ANSWER individual engaged in strategic activities that begin & develop a business, created to build long-term value and steady cash flow What are the functions of a business pl...

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Jersey College MedSurg 1 RN FINAL EXAM questions answered 100% correct 2025 update

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weight, smoking, sex practices, diet - CORRECT ANSWER List four modifiable risk factors. (general health promotion) age, genetics, sex - CORRECT ANSWER List three non-modifiable risk factors. (general health promotion) cultural assessment - CORRECT ANSWER What type of assessment should the nurse preform prior to initiating health teaching? physiological integrity safety and security belongingness and affection esteem and self-respect self-actualization -- physiologic needs and ...

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