Contractor Construction Management Questions and Answers with Certified Solutions

Contractor Construction Management Questions and Answers with Certified Solutions An administrative fine that the board can impose for engaging in business or submitting a bid without a contractors license. $1000-$50000 How many days does the employer have to furnish a W-2 if an employee requests a copy 30 Business Owners who fail to comply with Workers compensation laws may have to pay fines of up to_______ or have their business closed until the insurance has been obtained. $15000 Use tax is typically assessed at the same rate as sales tax If the owner does NOT file a notice of completion the contractor has _____ days after completing the work to file a notice of Lien against the owner's property and begin the lien process. 90 What is the maximum administrative fine for abandonment or failure to complete a construction project? $10000 a single Residential Recovery claim cannot exceed $35000 A delay in work is not a breach of __________ contract The clause in the subcontractors agreement reads that " a subcontractor binds themselves to the contractor for the performance of the subcontractors work in the same manner as the contractor is bound to the owner for such performance under contractor's contract with the owner." is called flow down clause The most accurate method of estimating is... detail survey method or quantity take off method The most difficult thing to estimate when preparing a bid is... labor If a contract is ambiguous, it goes against whom? the person who wrote it Why would the owner withhold 10% from each progress payment? Retainage Which document is signed by the Owner, Architect/Engineer, and the Contractor informing the Contractor to modify the agreement terms and conditions? change order What is 2/10 Net 30 2% discount can be deducted if paid within 10 days of the invoice date. Full payment due in thirty days. Changes made to the bid documents after they have been distributed, but before bids are received Addenda When should construction site drainage first be addressed? before submitting your bid Which financial statement summarizes income, costs, and expenses over a specific period of time? income statement Which of the following work-related injuries does not require the employer to report to OSHA using wound coverings such as bandages or band-aids What is the meximum