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NASCLA Contractor Exam Study Guide Question and answers 100% correct 2023/2024
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NASCLA Contractor Exam Study Guide Question and answers 100% correct 2023/2024Sole Proprietorship - correct answer Which form of business ownership is least regulated? Partnership - correct answer under which form of business organization are all investors fully liable for all debts of the busin...

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  • 6 de enero de 2024
  • 9
  • 2023/2024
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  • nascla contractor exam study guide
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NASCLA Contractor Exam Study Guide

Sole Proprietorship - correct answer Which form of business ownership is least regulated?



Partnership - correct answer under which form of business organization are all investors fully liable for all
debts of the business?



S corporation - correct answer The owner who is looking for maximum protection from personal liability
will choose this



Leaving something out - correct answer What is the worst possible error in estimating?



Income Statement - correct answer Which document reports after-expenses earnings?



Depreciation - correct answer What is the term used for the method of allocating the cost of an asset
over its useful life?



168 Hours - correct answer What is the number of hours in a defined Fair Labor Standards Act (FLSA)
work week?



State income tax - correct answer Which tax is deducted solely from employees wages?



Employers summary of W-2's issued to employees - correct answer What is form W-3?



4 years - correct answer The state employment commission requires that all payroll records be
maintained for?



Federal unemployment Tax - correct answer What employment tax is paid solely by the employer?

, 4 years - correct answer How long must federal employment tax records be kept?



establish a bases for future estimates - correct answer One useful outcome of cost analysis is to?



Bonds - correct answer Which of the following is NOT a company overhead cost?



Construction loan - correct answer Which of the following is a project overhead cost?



Allowances - correct answer What project cost do not need to be estimated?



Unit Price - correct answer Which estimating method is most often used when materials and labor are
hard to determine?



These suppliers must be competitive - correct answer All local contractors should expect their material
cost to be similar because...



Basis for the bid - correct answer What information do project documents ALWAYS provide?



contract - correct answer A legally binding mutual agreement between parties



Read and understand the contract - correct answer What action is essential before signing a contract?



Written agreements prevail oral agreements - correct answer Which is an established legal guideline for
contracts?



The standard form of agreement - correct answer Which contract documents MUST be signed by both
the owner and the contractor?



TURNKEY - correct answer What type of contract assigns the prime contractor responsibility for
developing the entire project?

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