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Louisiana Contractor-s Exam - Business and Law 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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Louisiana Contractor-s Exam - Business and Law 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
  • 1
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • louisiana contractor s exam business and law

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  • Commercial Construction
  • Commercial Construction

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Louisiana Contractor's Exam - Business and Law
A contractor's license is needed when the residential project is valued over ___ - ANS-$50,000

assets/liability is which ratio? - ANS-Liquidity

Federal Unemployment tax must be paid after an employee works ____ weeks - ANS-20 weeks

How many weeks are employees entitled to under the Family Medical Leave Act - ANS-12
weeks

Projects worth how much require bonds under the Miller Act? - ANS-$100.000

Promise that the employees, subcontractors and suppliers will be paid - ANS-payment bond

promise that the project will be finished w/in the promised time and w/in spec. -
ANS-performance bond

promise to complete the project for the bid price and provide a performance and payment bond.
- ANS-Bid Bond

Types of surety bonds - ANS-Bid bond
performance bond
payment bond

What benefits does an S corporation have? - ANS-prevent double taxation

What is the debt ratio? - ANS-liabilities/assets

What is the most accurate method of estimate? - ANS-Quantity take off method

What occurs when bids are revealed to create more competition? - ANS-Bid Shopping

When is a contract considered accepted? - ANS-when signed

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