Exam (elaborations)
VA CONTRACTORS: GENERAL (CLASS A OR B) QUESTIONS AND ANSWERS 2024
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VA CONTRACTORS: GENERAL (CLASS A OR B) QUESTIONS AND ANSWERS 2024
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VA CONTRACTORS: GENERAL (CLASS AOR B)
What does a comprehensive general liability insurance policy protect a company
against? - ANSWERS-an accident at the job site that damages the neighbor's
house
A contractor plans to use materials or methods other than those standard in the
industry. The contractor should... - ANSWERS-specifically state this in the
agreement
The two basic laws of construction estimating are... - ANSWERS-low estimates
decrease profits and high estimates decrease volume
Approximately how many materials are currently on the EPA hazardous materials
list? - ANSWERS-500
An important factor in ensuring that a schedule is followed is to... - ANSWERS-
make sure the superintendent agrees with it
Where does the information for a company's financial statement come from? -
ANSWERS-summary of accounts in the general ledger
, Which of the following is a TRUE statement about estimating? - ANSWERS-both
overestimating and underestimating costs could have disastrous consequences
Which of the following estimating methods is typically used by the architect
rather than the contractor? - ANSWERS-Conceptual estimate
An agreement that calls for a contractor to be paid actual costs for labor and
materials plus a fixed fee for the contractor's overhead and profit is called a... -
ANSWERS-cost plus contract
Equipment needs for a project are BEST estimated by... - ANSWERS-Calculating
the number of hours or days it is needed
What type of insurance is needed for a partnership to insure that the business
does NOT go out of business if one partner dies? - ANSWERS-Key man
An owner hires a construction manager for a project. Which of the following is
TRUE with regard to subcontractors? - ANSWERS-The subcontractors are prime
contractors
What protects a contractor from risk? - ANSWERS-Insurance
An ADVANTAGE of a Critical Path Method (CPM) schedule is it... - ANSWERS-
Identifies activities that MUST be completed before other activities can occur
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