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MHIC NASCLA CONTRACTORS EXAM REVIEW 2(frequently tested questions and answers)
Yes Does home improvement include work done on an individual condominium unit? Yes Does home improvement include work done on a swimming pool? Yes Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subcontractors Contractors who can only contract with a contractor or a subcontractor are: Cannot
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- Exam (elaborations)
- • 4 pages •
Yes Does home improvement include work done on an individual condominium unit? Yes Does home improvement include work done on a swimming pool? Yes Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subcontractors Contractors who can only contract with a contractor or a subcontractor are: Cannot
MHIC NASCLA CONTRACTORS EXAM REVIEW(Actual exam questions)
Yes Does home improvement include work done on an individual condominium unit? Yes Does home improvement include work done on a swimming pool? Yes Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subcontractors Contractors who can only contract with a contractor or a subcontractor are: Cannot A county or municipality in Maryland _____________ require a contractor to get authorization from an official in that city to be able
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- Exam (elaborations)
- • 5 pages •
Yes Does home improvement include work done on an individual condominium unit? Yes Does home improvement include work done on a swimming pool? Yes Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subcontractors Contractors who can only contract with a contractor or a subcontractor are: Cannot A county or municipality in Maryland _____________ require a contractor to get authorization from an official in that city to be able
MHIC EXAM 7 Questions with all the correct answers (Latest updated questions and answers)
A homeowner and a contractor prepare a false Certificate of Completion to present to the contractor's bank to obtain additional credit. If convicted. what is the maximum penalty for this violation of the Home Improvement Act A. A $5,000 fine and 3 years of imprisonment for the contractor. B. A $3,000 fine and 5 years of imprisonment for the owner. C. $1,000 fine and 6 months of imprisonment for the contractor and the owner. D. Recall of the loan agreement and disbursed funds, plus 10%...
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- Exam (elaborations)
- • 5 pages •
A homeowner and a contractor prepare a false Certificate of Completion to present to the contractor's bank to obtain additional credit. If convicted. what is the maximum penalty for this violation of the Home Improvement Act A. A $5,000 fine and 3 years of imprisonment for the contractor. B. A $3,000 fine and 5 years of imprisonment for the owner. C. $1,000 fine and 6 months of imprisonment for the contractor and the owner. D. Recall of the loan agreement and disbursed funds, plus 10%...
MHIC EXAM 2024/2025 Latest Questions and Answers, All Correct Study Guide, Download to Score A
Business Types not Required to have EIN # -sole proprietorships with no employees -LLCs with single owner S corporation a business entity that meets certain requirements to be able to inherit the protective benefits of being a corporation, but be taxed as a partnership. - must be domestically incorporated - must have only a single type of stock and less than 100 shareholders. - shareholder distributions are taxed on the individual shareholder tax returns - it can pass these incomes to ...
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- • 21 pages •
Business Types not Required to have EIN # -sole proprietorships with no employees -LLCs with single owner S corporation a business entity that meets certain requirements to be able to inherit the protective benefits of being a corporation, but be taxed as a partnership. - must be domestically incorporated - must have only a single type of stock and less than 100 shareholders. - shareholder distributions are taxed on the individual shareholder tax returns - it can pass these incomes to ...
MHIC EXAM STUDY, 100% Correct, Download to Score A
Activity Ratio A formula that measures how effectively a company manages it's credit. It's calculated by dividing sales per day into current receivables. Allowance A specified amount designated in an estimate for items that are not specified in the project plans, such as finished materials, (carpeting, fixtures, lighting, etc.) How many members are there in the MD Home Improvement Commission? 9 What is the length of term for an individual who serves on the Commission? 4 years H...
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- • 11 pages •
Activity Ratio A formula that measures how effectively a company manages it's credit. It's calculated by dividing sales per day into current receivables. Allowance A specified amount designated in an estimate for items that are not specified in the project plans, such as finished materials, (carpeting, fixtures, lighting, etc.) How many members are there in the MD Home Improvement Commission? 9 What is the length of term for an individual who serves on the Commission? 4 years H...
MHIC EXAM 6 Questions and Answers with Explanations (latest Update)
home improvement The Home Improvement Law defines the term "home improvement" very broadly in order to include a number of activities: The addition to or alteration, conversion, improvement, modernization, remodeling, repair, or replacement of a building or part of a building that is used or was designed to be used as a residence or dwelling place or a structure adjacent to that building or an improvement to land adjacent to the building. This means that work done to a residence...
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- • 5 pages •
home improvement The Home Improvement Law defines the term "home improvement" very broadly in order to include a number of activities: The addition to or alteration, conversion, improvement, modernization, remodeling, repair, or replacement of a building or part of a building that is used or was designed to be used as a residence or dwelling place or a structure adjacent to that building or an improvement to land adjacent to the building. This means that work done to a residence...
MHIC EXAM 4 Updated Questions with Correct Answers
What parties must sign a Home Improvement contract? Homeowner and Contractor How many members are in the Commission? 9 Where is the office of the Commission located? Baltimore City Who is responsible for the operations of the Commission? Executive Director What is the best method to give an estimate? The Quantity take off method How many Commission members MUST be present at a h
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- • 9 pages •
What parties must sign a Home Improvement contract? Homeowner and Contractor How many members are in the Commission? 9 Where is the office of the Commission located? Baltimore City Who is responsible for the operations of the Commission? Executive Director What is the best method to give an estimate? The Quantity take off method How many Commission members MUST be present at a h
MHIC EXAM 3 Questions with 100% Correct Answers
What does MHIC mean? Maryland Home Improvement Commission What is the primary function of the MHIC? To protect the health and safety of the general public What type of home improvement licenses are there in Maryland? Contractor and salesperson The contractors license enables the licensee to work as: contractor, subcontractor, and salesperson Don smith is applying with the commission to obtain his Home Improv
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- • 4 pages •
What does MHIC mean? Maryland Home Improvement Commission What is the primary function of the MHIC? To protect the health and safety of the general public What type of home improvement licenses are there in Maryland? Contractor and salesperson The contractors license enables the licensee to work as: contractor, subcontractor, and salesperson Don smith is applying with the commission to obtain his Home Improv
AIR TEST PREP, All Correct Study Guide, Download to Score A
analyze To break something down into its parts to study it cite To quote directly from a source compare To find similarities among things contrast To find differences among things contribute To give something in order to help prove something or show something; t
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analyze To break something down into its parts to study it cite To quote directly from a source compare To find similarities among things contrast To find differences among things contribute To give something in order to help prove something or show something; t
LIFE TEST PREP Latest Questions and Answers
When would life insurance be taxable by the government? if there is a transfer for value if life insurance are collected in a lump sum payment, they are generally not subject to federal taxation. If the benefit Policies written on a third-party ownership basis are ususally written to cover what? Policyownwer's minor children or business associates If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure? Prior ...
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- • 11 pages •
When would life insurance be taxable by the government? if there is a transfer for value if life insurance are collected in a lump sum payment, they are generally not subject to federal taxation. If the benefit Policies written on a third-party ownership basis are ususally written to cover what? Policyownwer's minor children or business associates If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure? Prior ...
Medical Surgical Nursing 2nd Edition Hoffman Test Bank All Chapters Complete Questions and Answers A+
TEST BANK FOR DEWITS FUNDAMENTAL CONCEPTS AND SKILLS FOR NURSING 5TH EDITION BY WILLIAMS ALL CHAPTERS FULLY SOLVED (PROFESSOR VERIFIED)