Contractors Business/Law Exam Questions And Answers
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Course
Nascla
Institution
Nascla
Contractors Business/Law Exam Questions And Answers
If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? - ANS quarterly
How many employees does it take for the Fair Labor Act to be applied? - ANS 1
What accounting method records income when the service oc...
Contractors
Business/Law
Exam
If
an
employer's
Federal
Payroll
Tax
liability
is
$1000
how
may
they
pay
taxes?
-
ANS
quarterly
How
many
employees
does
it
take
for
the
Fair
Labor
Act
to
be
applied?
-
ANS
1
What
accounting
method
records
income
when
the
service
occurs
and
expense
when
they
are
incurred?
-
ANS
Accrual
Method
What
do
the
General
Conditions
of
a
contract
do?
-
ANS
Outline
roles
of
the
owner,
architect,
and
engineer.
You
are
purchasing
an
insurance
policy
with
a
monthly
premium
of
$300.
If
you
implement
a
safety
program
you
can
save
10%
on
the
cost
of
the
policy.
The
safety
program
costs
$400
to
start
and
$15
a
month
to
maintain
it.
What
would
be
the
net
difference
in
cost
over
a
three
year
period
with
a
safety
program?
-
ANS
Net
saving
of
$140
Written
construction
contract
change
order
should
include
a
description
of
the
modification
to
be
made,
any
change
in
contract
time
and
-
ANS
The
change
in
the
contract
dollar
amount
Which
of
the
following
is
a
written
agreement
between
the
owner
and
contractor
to
change
the
contract?
-
ANS
change
order
What
term
identifies
money
withheld
from
progress
payments
to
the
contractor
and
paid
after
the
completion
of
the
project?
-
ANS
Retainage
When
is
final
payment
due?
-
ANS
Final
inspection,
acceptance
by
owner
and
submittal
of
proper
documentation
must
occur
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.
The
percentage
of
completion
method
of
accounting
does
what
-
ANS
recognizes
profit
as
it
is
earned
Workers
are
on
a
job
site
where
noise
is
very
loud.
Who
is
supposed
to
supply
the
workers
with
ear
protection?
-
ANS
contractor
(employer) Where
can
you
get
accurate
information
about
tax
deposit
schedules?
-
ANS
IRS
Publication
Circular
E
Which
of
the
following
statements
correctly
describes
the
cash
method
of
accounting?
-
ANS
Income
/
expenses
are
recorded
at
the
time
they
are
received
/
paid
What
type
of
workplace
insurance
provides
all
the
benefits
required
by
law
for
employees'
who
are
killed
or
injured
as
a
result
of
their
employment
-
ANS
Workers
Compensation
If
an
employee
is
covered
by
Workers
Compensation
in
the
state
of
Utah
and
is
doing
a
job
in
Colorado
and
gets
injured,
are
they
covered
by
Utah
Workers
Compensation?
-
ANS
Yes,
the
Utah
fund
would
cover
the
employee
but
the
employer
should
look
into
getting
coverage
in
state
of
Colorado
also.
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
With
a
Residential
Small
Commercial
license
(R100)
how
many
units
can
build
for
multi
family
units?
-
ANS
a
four
plex
What
will
happen
to
the
contractor
if
he
fails
to
notify
the
Division
of
Professional
and
Occupational
Licensing
of
a
disassociation.
-
ANS
The
license
will
be
suspended.
The
company's
work
site
exposes
the
employees
working
there
to
hazardous
materials.
Who
is
responsible
for
making
sure
each
person
coming
to
the
site
wears
the
correct
protective
equipment?
-
ANS
Employer
Which
of
the
following
SHOULD
be
included
for
the
schedule
of
progress
payments
-
ANS
date
or
stage
when
each
payment
is
due
An
employer
must
submit
a
completed
I-9
form
for
all
employees
within
how
may
days
of
hire
date?
-
ANS
3
days
Of
the
following
who
has
the
responsibility
for
material
delivery
and
storage
of
materials
-
ANS
expediter
The
total
time
given
for
the
construction
of
a
job
is
6
months.
The
framing
is
given
2
months
to
complete.
The
framing
will
only
take
1
month
to
complete.
What
is
the
amount
of
float
time
that
is
available
for
the
framing?
-
ANS
1
month
In
which
of
the
contracts
does
the
contractor
agree
to
complete
the
project
for
a
predetermined,
specific
price?
-
ANS
Lump
sum
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