Exam (elaborations)
Business and Finance Questions and Answers 2024
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Business and Finance
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Business and Finance"Hard Records" , Such as payroll, employment contracts, sales & Purchase records
Must be retained for ___ years. - answer2
Florida Contractors Manual
Section 5 Page 30
"Soft Records" ( time cards, time sheets) must be retained for ____ years. - answer2
Florida Contractors Manual
Section 5 page 30
FS 489 Requires complete Financial and Business Records to be retained for
_______________ years - answer3
Florida Contractors Manual
section 2 page 20
OSHA logs 300/300A Must be retained for ___________ years - answer5
Florida Contractors Manual
section 7 page 16
Per the IRS, Records of employment taxes must be retained for
________ years - answer4
section 3 page 154
florida contractors Manual
The department, for the boards under its jurisdiction, shall have the authority to close
and terminate deficient license application files _______ year(s) after the board or the
department notifies the applicant of the deficiency. - answer2
Florida Statute-DBPR (455)
455.203 (10)(A)
I-9 Forms must be retained _______________ . - answer3 years from date of hire, or
1 year from the date employment ends
which ever one comes first.
section 5-page 58
Florida Contractors Manual
Tests, Inspections, and approvals of work shall be paid for by the ________ ; if tests are
failed additional costs shall be borne by ________. - answerOwner, Contractor
13.4.1, 13.4.3
AIA Document A201
, The Maximum hours of work allowed per week for a 16 year old while school is in
session is _____ hours. - answer30
section 5 page 32
Florida contractors Manual
A job has cost to date of $34,000. The cost to complete is estimated to be $91,000. IF
the contractor wanted to make a 12% profit, the contract price would be
_____________. - answer$140,000
87
Builders Guide to Accounting
The ___________________ Regulates the FLSA - answerDepartment of Labor
5-15, 5-19, 5-16
Florida Contractors Manual
At Least ___________ days before the end of a licensure cycle, the department shall
forward notice of pending cancellation of licensure to a delinquent status licensee at the
licensee's last known address of record or email provided to the department. - answer90
455.273 (2)
Florida Statute - DBPR (455)
_______________________________ Would probably not be subject to the overtime
regulations. - answerEmployees who are employed in the capacity of outside salesman
5-17
Florida Contractors Manual
The Buy America Act does not include __________. - answerBrazil
10-88
Florida Contractors Manual
Per FLSA, an executive employee ______________. - answerMust earn at least $913
per week
Customarily directs the work of 2 or more employees
has the authority to hire or fire other employees
5-19
Florida Contractors Manual
An individual who smokes in a non-smoking area is subject to a fine of ______ for a
repeat offense. - answer$500
5-49
Florida Contractors Manual
A _______________________________ would be most likely to receive a limited
License. - answerRetired Professional
455.214 (2)
Florida Statute - DBPR (455)
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