Exam 2

According to the A1A Documents, a contractor shell warranty, all work for what time period?

Bonding and insurance companies have certain minimum requirements that contractors must meet. All are important except:

Upon certification by the architect of the general contractor’s Certificate for Payment the:

Upon initial licensure, and each subsequent renewal, a specific for $5 per licensee is designated for:

Which of the following is NOT an accomplishment of a complete cash budget?

A contractor’s workers compensation premiums can be reduced by any of the following, except:

Which jobs would not require use of the straight percentage of completion method?

In order to establish an hourly cost for a bulldozer for job allocations, which of the following would not apply?

An indicator of how well he company can meet. Its current obligations is the company’s

When preparing a financial statement for a lender before applying for a loan, it is best to first:

Using a cost plus contract for cost escalation is easiest for the ___ to shift risk.

According to the builders guy to accounting, which statement is true?

The base hourly rate will be increased because of required taxes, insurance, and other benefits by approximately:

Surety bonds are generally required of contractors performing Public Works in order to

(Civil Rights Act 1964) EEOC issues Notice of Right to sue, the charging party has___days from receipt of notice to file

When figuring overhead, which is a fixed expense?

According to the Builder’s Guide to Accounting, the only reasonable way to assign overhead is in proportion to what?

A1A A201 creates an agreement between the owner and:

What liability insurance protects contractor from loss due to accident causing bodily injury/property damage of job done

Which expense listed below is variable to the collected amounts receivable?

You need 60 dump trucks in September. 15 in October and November. You have 30 available. You should attempt to:

Which activity is considered to be a construction job, as that term is used in the Worker’s Compensation statue?

What are two basic types of cost-plus contracts?

Payments due in unpaid under A1A Contract Documents shall bear interest from the date of payment as:

Original contract documents, include the owners contract agreement, the general, supplementary, other conditions, and:

Which statement is TRUE regarding “lump sum” and/or “unit price” contracts?

All of the following are excluded from Florida right to work laws, except

When the lender offers a construction loan at 2% more than the bank’s basic lending rate, how is this described?

Why should a contractor maintain all insurance records for a MINIMUM of two years

Which is the best method to check an estimate in order to eliminate as many errors as possible?

What is the easiest way to maintain a perpetual inventory according to Builder’s Guide to Accounting?

Construction company that is experiencing a high rate of bad debt can try to reduce the ratio by doing all except:

When a business is structured as a joint venture:

What is the maximum contract amount before filing a Notice of Commence is required?

In the case of material purchases, vendor invoices should be matched with ___ prior to payment of the invoice.

According to contract manual, multiple worksite reports MUST agree with the

Review of employee’s continual accident report could reveaI a need to___the employee in a particular area for safer area

Which one of the following is an incentive to pay an invoice early or when do?

A comparison of all credit and debit balance is in the general ledger is known as a(an):

The most precise ratio used to judge whether the level of inventory is correct for volume of work to be done is:

Board may and impose a maximum combined total administrative fine, per violation, against the business entity of:

All the following statements about bad debts are correct, except:

Which of the following individuals is required by Florida statue to sign a notice of commencement?

According to the Contractors Manual, which cost is usually not considered to be overhead?

All the following are used to determine complete taxable wages used to calculate Federal Unemployment Tax, except:

All the following are correct, concerning an income statement, EXCEPT:

When contractor writes off the expense of a piece of equipment overtime, the process is called:

One set of drawings and specifications will be furnished to the contractor at what price?

A change of business address must be mailed to the Dept. of business & professional regulations within how many days

Who should have a certificate of insurance on file with the contractor?

The maximum penalty for knowingly, making false statements,report,record is a fine in terms of prison, if not more:.

What is the advantage of an S Corporation for a sole proprietor?

What formula is used to find the raw materials ratio?

What changes with a change order?

According to A1A adjustment of the contract, some using a change order must be established based on:

According to A1A –A401, all of the following are responsibilities of the subcontractor except to:

State of Florida requires all businesses which collect sales tax to secure a ____ from the Department of Revenue

The budget of cash movement statement illustrates the beginning, cash balance, and the

According to the contractors manual a 17 year old man, or may not work more than

Which component address is the action that will be taken for in fractions against company, safety policies and rules?

According to Florida Unemployment Compensation Employer Handbook, Cafeteria Payment plans are exempt if they are:

According to Builders Guide to Accounting, when using the inventory ratio method, a high ratio indicates:

Which of the following do not have lien rights?

Employer must verify the identity of all new employees by completing a form I-9 within___business days from start date

What is a general partners personal liability for debts of the partnership?

Who is responsible to maintain all jobsite files and assist with the cash flow report?

Your contractors license number must appear in all or on all of the following as advertisements, except:

In a contracting company that has more than one qualifying agent, a second qualifying agent is responsible for:

According to the Florida contractors, manual a short term schedule that commences June 1 will run through:

Who certifies the substantial completion of a building?

All of the following would be considered bearable overhead expenses, except:

If owner makes payment to contractor w/out requiring waiver,release by lien, filed NoticeToOwner payments are consider

Under which condition may a bidder, withdraw their bid after the date and time designated for the receipt of bids?

Under the Federal Equal Pay Act of 1963, a court or jury in the case of a willful violation, may award

What tool can a project manager used to help in scheduling a project?

According to Florida unemployment compensation employee handbook, an unemployed worker:

I’m pulling a building permit a copy of the _____ will be filed with the permitting authority

On which of the following items must Florida sales tax be paid by prime contractor, if it is not included on the invoice

In the event of initial decision claim under A1A, what should the contractor do when work has begun on a project?

When a construction company is applying for a loan, most banks require all the following items, except:

The DBPR shelf already license, renewal, notification, at least ______ before the end of a licensure cycle

What is the best way to control job cost prior to being committed to them?

Which of the following is an advantage of plotting job progress on a graph?

Liquidated damage clause $350/day if delayed after March 10th. If completed March 28th, contractor pays?

The benefit of a good budget is to

The contractor’s final payment affidavit must be delivered to the owner no later than___ days before enforcing lien

A claimant who is not in privity with the contractor &not received payment for labor, must serve notice within ___days

This document is submitted to the architect upon request, stating that contractors qualifications

To effectively include the cost of the company’s owned equipment in the bid, the contractor will most likely need

Which of the following is NOT true of a general partnership?

False or misleading representation. The board may find up to_____ for each count or offense

What should be on every A1A Document to ensure it is authentic?

Employees in an excavation shall be protected from cave-ins, EXCEPT when the excavation is made stable in

From a contractor’s view point, which of the following is an asset?

Qualifying for SBA, long-term guarantee financing, the lender requested a “prospectus.” The contractor will need to

According to Florida Unemployment Compensation Employer Handbook tax rates are referred to as:

For payroll record, keeping it is suggested to:

When local contractor challenges local jurisdiction’s recommended penalty for board action, must be present to the:

According to the Florida “Statute of Frauds” all of the following contracts must be written to be enforced, except:

Which is NOT true concerning a good cash budget?