Michigan builder license Questions with correct Answers

Michigan builder license Questions with correct Answers Term of board member 4 years Board members must meet annually 2 times Board members are 4 licensed residential builders, 2 licensed maintenance and alteration contractors, 1 building inspector, 2 general public. Time allowed to renew license without retaking builder exam 3 years Time allotted for department to acknowledge receipt of complaint to complainant 15 days Time allotted to respond to a formal complaint 15 days Time allotted to board to determine penalties after an administrative hearing 60 days Time allotted to a person to request that a limitation be removed after they receive such notice 30 days Time to submit financial records once the board notifies the licensed person 30 days Time to notify the department of change in name or address of licensed person 30 days Time allotted to licensed person notifying them of an investigative conference 10 days Time allotted to a residential builder to return sale's persons license and for sales person to return I.D card by certified mail 5 days What are the 4 legal documents for a home? The survey, the date, the abstract and title, the contract. When do you need an architect to draw/design a house? After 3500 square feet of habitable space. Which type of plan can be adapted to fit many different lots, companies sell these by providing 4 plans and other drawings to show what the finished house will look like. Stock plans Who can remove a limitation once it's put on the license? The department and board Negligence Accident you are unaware of. gross negligence being aware of problem, and ignoring it. Can a construction salesperson get their own sales license? No, only they contractor they work for. A license shall maintain documentation for at least ___ years. 5 Residential owners have ___ months to make a complaint 18 Workmanship just meet act __ 230 How does the department verify a complaint? Contacting the local building department Department means? LARA All requirements must be submitted within one year from? Submitting builders license application If a bond is cancelled, a license predicated upon such a bond shall be suspended effective? Upon date of cancellation If you license is suspended you have __ days to turn it in 10 Contractors and suppliers must submit a form within __ days of providing goods and services Laborers must submit form notice of furnishing within __ days after wages are due 30 The proof of notice of furnishing goes to the ______ and _______. General contractor, homeowner Proceedings to foreclose must take place within ____ of the date that the claim lien was recorded. 1 year What business entity would have limited liability of a corporation but the tax advantage of a partnership LLC The most common contract used for residential builders? Lump sum contract Provides a fine of not more than 6 months or not more than $500.00 or both Provision Provides a cancellation period of three business days Provision Americans with Disabilities Act (ADA)law applies to employees with more than __ employees? 15 Michigan civil rights law? Elliot Larsen law Which employers must carry worker's compensation coverage? private employers regularly employing 3 or more employees 35 hrs or more a week. For 13 weeks. Can an Injury related to intentional misconduct be compensated? No Is the job is $___ or more a builders license is required 600 Censure means? Disapproval of professional conduct complaint? Oral or written grievance Physical dominion Control and possession Who appoints the board members? governor respondent license holder that responds to complaint Accounts Payable? Current amount you owe/liability current assets Assets that can be turned into cash within 1 yr Current Liabilities Payments of debt within one year Depreciation write off long term asset Networth assets minus liabilities A business owner should keep their records a minimum of _ years? 7 Personal records should be kept a minimum of _ years? 3