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Nascla NC State Law Exam Questions and Answers
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Nascla NC State Law Exam Questions and Answers
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Nascla NC State Law Exam Questionsand Answers
4 - 0 How do you manage Risk -
correct answer ✅Manage risk by adding provisions to a contract, safety
programs, operating procedures and GENERAL INSURANCE.
Put the following items to finish a concrete slab in the correct order -
correct answer ✅Screed
Bull float
Power Trial
Final Finish
4-4 What does Commercial General Liability Cover (CGL) -
correct answer ✅Basic Liability coverage - 4 types of injuries - BODILY
injury actual physical damage or loss to individuals who are not
employees.; DAMAGE or loss to property not yours; Personal injury -
slander or damage to reputation; ADVERTISING injury - negligence in
promotion.
What does Commercial General Liability NOT Cover (CGL) -
correct answer ✅wind damage
employee injury
construction material lost
WHAT are the elements of a business Plan -
correct answer ✅Cover Page, Executive Summary, Company Summary,
,Nascla NC State Law Exam Questions
and Answers
Products and Summary, Market Analysis, Marketing Strategy, Financial
Plan
2-1 to 2-5 - WHAT are the types of Business Organizations -
correct answer ✅Sole Proprietorship, Partnerships, C Corp, S Corp, LLC
2-4 WHAT type of business is Exempt from registering with the IRS and
easiest to set up -
correct answer ✅Sole Proprietorship
General partnerships exist as long as -
correct answer ✅partners remain
In a general partnership -
correct answer ✅each partner is totally liable for acts in the
partnership
Disadvantage of a C corporation -
correct answer ✅double taxation
WHAT is the purpose of the NC License Board for GC -
correct answer ✅The purpose is to safeguard the life, health and
property of the PUBLIC.
, Nascla NC State Law Exam Questions
and Answers
4-5 WHAT does a Business Owners Policy cover -
correct answer ✅It covers both Property and liability.
4 -7 What is Workers Comp Insurance -
correct answer ✅WCI (workmans compensation) provides coverage for
employees injured on the job. ALL NC must have it if more than 3
employees
All subcontractors should provide a -
correct answer ✅cert. of insurance to protect the GC from being liable
for W/C premiums for the subs
WCI Fraud -
correct answer ✅includes
-claims for injuries that do not exist
-injuries not job related
-falsely exaggerating injuries
-doctor exaggerating injuries or overcharging
-employer lying about payroll about job descriptions and number of
employees
different types of bonds
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