Plumbing test
A general partnership is made up of "A"-60%,and "B"-40%.The partnership is committed to a $100,000.00 debt. How will this debt be handled
"B" is liable for the entire $100,000.00
An employee can complete 160 units of work in one hour.The average labor cost is $40.00 per hour.What is the rate per unit?
$0.25 per unit
The Miller act requires contractors to provide performance and payment bonds on public works projects.What is the minimum contract amount to which Miller Act requirement apply?
$100,000
A contractor has a liability insurance policy with $1000 deductible.There is a job related accident resulting in $3000 damage to construction materials $5000 in injuries to employed personnel,and $1000 in injuries to non-employed persons.How much is due to the non-employed person from insurance?
$1000
An employee makes $12.00 per hour.One week he works 30 hours and the next week he works 50 hours to make up for the previous week.What is his compensation for the two week period?
$1000 to $1050
A contractor bids a job for $10,000 in June.He is awarded the contract and is paid $8,000 to cover expenses also in June. The contractor pays bills of $5000 and $1000 in June.He was paid in May $3000 for another job and $1000 of that was for expenses.What is the contractor net income for June?
$2,000
Any corporation with a Prior tax year liability is required to make tax payments by the Electronic Funds Transfer (EFT) system
$20,000.00
A person was paid ten(10)cent for each $100 of overhead costs and twenty (20)cents for each $100 dollars of gross income.Overhead was $25,000 and Gross income was $125,000.How much did the person get paid?
$251 to $300
Two partners invest $10,000.00 each into the General Partnership.The company goes out of business with $30,000.00 in liabilities.How much is each partner responsible for?
$30,000
The penalty for non-compliance with lead abatement regulations is?
$37,500 per day
Given the following information,what is the working capitol? Current assets-$40,000.00 Fixed assets-$162,000.00 inventory includes in assets-$41,000.00 current liabilities-$36,000.00 long term liabilities $46,000.00 net income for the year-$62,000.00
$4,000.00
OSHA Cited a contractor for willful violation.if the contractor doesn't correct the issues,what is the minimum fine that OSHA can levy?
$5,000.00 per violation
Registrar has issued a directive to correct the deficiencies on a project the contractor had refused to make the correction,What is the total civil penalty amount
$5000
The annual cost for workers compensation for a company who has $45,000. In office staff at $1.50 per $1000.00 and $212,000.00 in field staff at $2.50?per $100.00 would be.
$5367.50
A construction company balanced sheet shows the following information.Cash:$24,000 Accounts receivable:$56,000 Equipment:$18,000 Vehicles:$30,000 Account payables:$44,000 Notes payables:$16,000 Accrued wages:$9,000.What is the net worth of the company?
$59,000
An employer has a history of repeatedly violating the Arizona Occupational Safety and Health Act,what maximum penalty may be accessed for the employers next offense?
$70,000.00
A company balance sheet shows assets of $20,000 and owner equity of $12,000 the company liabilities are:
$8,000.00
A contractor is doing a cost plus contract for $100,000.00.He is to get 40%over the direct costs.If he can do the job for under $100,000. He gets 10% of the savings. He also will get $500.00 a day if he finishes the job early. If his direct costs equal $60,000.00 and he finishes 5 days early,how much does the contractor get paid?
$85,000.-$90,000
A contractor bids a job for $15,000 in June.He is awarded the contract and is paid $8,000 to cover expenses also in June.the contractor pays bills of $5000 and $1000 in June.He was paid in May $3,000 for another job and $1,000 of that was for expenses.Using the accrual method,what is the contractors net income for June?
$9,000
According to the Fair labor Standards act (FLSA),How many employees are needed before you must comply with this act?
1
How many total employees will require the employer to pay unemployment (FUTA)taxes?
1
What is the minimum size of land that the ADEQ rugulations would come into effect
1 acre
A contractor is responsible for interior and exterior caulking (excluding roofing sealant)for
1 years
When materials containing more than. Asbestos are encountered on a job site,work must stop until the remediation of the asbestos has been completed
1%
A corporation must make estimated tax payments if its Arizona income tax liability for the year is at least. Dollars
1,000
Maximum first time fine that can be levied against a contractor that does not have worker compensation insurance on his workers
1,000
What is the penalty for making an offer on a contract while your license is expired
1,000.00
Medicare taxes are what percent of an employee wages?
1.45%
Payout to owner from recovery fund in the amount of the deposit plus interest at the rate of what percent
10
Registration of a trademark is effective for how many years
10
Outside of city limits,What is the maximum parcel size that a lien shall extend to
10 acres
Homeowner buys a house and notices a scratch on the granite counter top the homeowner has
10 day to notify the contractor of the defect
A job is supposed to start on the 1st which is a Monday.Materials arrives on Tuesday the 2nd.The crew begins work on Monday the 8th. The job must be completed by the 29th.No overtime,weekend or holidays are considered.Tt takers 10 day to complete the job.What is the total float time?
10 days
Complaint had been filed
10 days
How long does an owner have to notify a contractor of defective work
10 days
How many days does an owner have to furnish the name of a lender on a project to a contractor that intends to file or has file a preliminary twenty day notice on the project
10 days
If a contractor is notified by and owner that a lien has been filed within what time frame must the contractor resolve the issue to prevent payment delay
10 days
To reactivate the suspended license the contractor must reimburse the fund for the total amount paid. Interested
10%
You pay your Federal taxes 30 days late,how much is the penalty?
10%
How are workers compensation premiums paid?
100%bu the employer
Complaint has been filed on a Az contractor.Registrar issued a citation.How long does the contractor have to file
10days
Employers with or more employees are subject to OSHA record keeping of all illnesses and injuries
11
A job is scheduled to be completed in 3 weeks.The work force consists of 10 employees working 5,8 hour days per work week with no overtime.Under a revised schedule how many hours per day must the employees work in order to complete the job in 2 weeks?
12 hours
A license was suspended for failure to renew by the Registrar of contractor.The license May be reactivate and renewed by filing and applications and paying required fees within
12 months
When may a contractor reapply for a contractor license after revocation
12 months
How many weeks can an employee that qualifies under the FMLA be gone without pay without losing their posting ?
12 weeks
When reserving a trade name,a corporate name may be reserved prior to incorporation for how many days?
120 days
A contractor has a contract with an owner and a notice of completion (form ML-9)was not filed.How long does this contractor has to file a lien
120 days from the completion of the structure
How many days do you have to notify the registrar of contractor when a qualifying party disassociate from a license
15 days
How many days does a contractor have after receiving notice for non-compliance from the workers compensation division to request a hearing
15 days
How long after exposure to asbestos can it take for the symptoms of the disease to become evident?
15 to 40 years
A Corporation's Arizona State tax return (form 120 or 120-S) is due on the Following the close of the corporations tax year?
15th day of the 4th month
How is a work week defined in the Fair Labor Standards Act?
168 hours during 7 consecutive 24 hour periods
A license was not renewed because of non-payment.How many days before the license will be suspended
1day
A person who has been convicted of contracting without a license is not eligible to obtain a contractor without a license with in After the data of the last conviction
1year
A formal complaint which has been confirmed by an agency inspector will remain on the contractors public records for how many years
2
Contractor license in Arizona are issued for how many years
2 years
The Arizona Workmanship Standard cover
2 years of workmanship and 2 year of material
Accurate and prompt deposit are required for your federal tax liability,if you are late by 1 to 5 days what is the penalty?
2%
A contractor received a change order for $2,500.The materials will cost him $2,500. And his overhead for this change will be $700. but he will save $1,000. On materials and $280.00 on overhead and have 10% profits on the change order.What will be his cost plus profit
2,112.00
What is the total maximum civil penalties of multiple violations that an unlicensed person acting as a contractor may receive
2,500.00
A preliminary notice should be filed by a contractor within how many days after the commencement of the project
20
A lien is place on a property,and it was paid so the property can be sold .How many days does the lien holder have to remove it
20 days
Contractor does not file a preliminary 20 days notice and delivered materials to the job site .How long does the contractor have to file a notice
20 days
Only one preliminary notice is needed unless the value of materials furnished exceeds by or more than the total price
20 percent
What is the maximum amount which may be recovered from the contractor recovery fund for any one residential contractor license
200,000
When is the due date of an Arizona Sales Tax return?
20th day of the following month
After the termination of a contractor license how long must the license bond stay in place
24 months
An employee worked,2-12 hour days,1-10 hour day and 1-7 hour.What is the total gross wages due this employee for the work week?
265.60
Given the following information,what is the contractors return on investment (total assets) Current assets:$80,000 Fixed assets $112,000 Inventory not included in current assets:$12,000 Current liabilities:$30,000 Fixed liability:$86,000 Net profit:$57,000
27.9%
Approved Articles of Incorporation must be published in a local newspaper in the country of the place of business for:
3 consecutive publications
A subcontractor May suspend performance if the owner fails to make timely payment the subcontractors shall provide written notice to the owner and contractor at least before walking off the job
3 day
An I-9 form must be completed with required ducumentation within. after an employee is hired?
3 days
How long must an employer display an annual summary of work related injuries?
3 months
When remodeling a house that is built prior to 1978 you are required to give the owner a lead pamphlet and have them sign that they recurved the notice.How long must you keep this record?
3 years
Many day in advance of notice to principal and the registrar prior to cancellation of bond
30
In Arizona a contractor must report a change of business address to the registrar of contractor within how many day
30 day
Which of the following conditions indicates the completion of a permitted structure
30 day have passed since the final inspection and written acceptance of the project
Contractor files a complaint with the registrar for non payment of service that is without merit
30 days
Request and extension of time within
30 days
Homeowners when making a claim for money damage resulting from termites should give written notice to the contractor last known address
30 days prior to fileing a suit
Maximum payout per injury party of the recovery fund
30,000.00
After filing SWPPP and complete NOI,how long must and operator wait before discharging within 1/4 mile of impaired water
32 days
Preliminary notice are covered under what Arizona Revise statute
33-992.01
Employers must verify employment eligibility of anyone they hire.This is done by using a form I/9.What is the minimum length of time an employer must retain Form I-9?
3years
What is the maximum number of apartment unit in a building that a residential contractor can build or remodel
4 unit
A contractor has a project that requires 96 man hours to complete.It must be done in only three days.If 8 hour days are worked,what will be the minimum crew size required?
4 workers
How many years are you required to keep copies of your tax records?
4 years
How many years experience do you need in the trade for the license you are applying for
4 years practical or Managment experience at least 2 of which are in the last 10 years
A non exempt employee works 40 hours in a week,and also receives 8 hours of holiday pay,how is the time paid out?
48 hours of straight time
For how many years may a contractor license initially be in activated
5
A job is suppose to start on the 1st which is a Monday.Materials arrive on Tuesday the 2nd.The crew begins work on Monday the 8th.The Jon must be completed by the 29th.No overtime,weekend or holidays are considered.It takers 10 days to complete the job.What is the float time?
5 days
How long does OSHA form 301 have to be kept?
5 years
Accurate and prompt deposit are required for your federal tax liability,if you are late by 6?to 15 days what is the penalty?
5%
A license that has been suspended for failure to renew.Application fee and late fee
50.00
Files a complains with the registrar of contractor under section ARS-32-1129.02 shall be required to past a surety bond or case deposits of
500.00
Contractor may request the registrar to inactivated their current license for a period not exceed
5years
When working at maximum height of. Or more with no leading edge protection,personnel are required to be tied off or have fall protection.
6 feet
A lawsuit to foreclose on a lien must be filed within what length of time after the lien is filed
6 months
How long will a lien stay in place if no law suits is filed
6 months
If new information becomes available about a hazardous chemical,within what time period must labels be revised
6 months
The Arizona Mechanic's Lien law states that after a in
6 months
Which of the following Type of apartment can a residential contractor build or remodel
6 story 3 dwelling
Given:The contractor must complete the footings and foundation of a commercial building within 8 weeks or the project will be delayed.The task will take 3weeks to complete.The total length of the project is 10 months.What is the total float time of this task.
6 weeks
What percentage is an employer responsible to pay for Social Security tax only?
6.2%
Which of the following conditions indicates the completion of a permitted structure
60 consecutive days have passed since the last work was performed
After you have filed Articles of Incorporation with the Arizona Corporation Commission (ACC)How much time do you have to publish your article?
60 days
If a ML-9(notice of completion)has been filed,low long do you have to file a lien.
60 days
The maximum amount that can be assessed biennially against the contractor for the required contributions to the residential contractor recovery fund is
600 dollars
When a qualifying party disassociate himself from a license the license shall have Day to qualify through another person
60days
An owner offered a contractor a contract to remodel a building.The contract is for $12,000.You estimate your cost on this project are $1000 for equipment,$3000 for labor and $6000 for materials.You have 20% overhead on direct labor and 10% overhead on labor and materials and 10% of all cost for profit.If you accept his contract you will have a
650.00 loss
Owner before the subcontractors intended suspension of work
7
After filling SWPPP and completed NOI,how long must an operator wait before discharging Stormwater from a construction project
7 days
Given:A prime contractor has received a periodic payment on a contract.Subcontractors have submitted invoices for the work they have performed for the the prime contractor.With how many days after receipt of the periodic payment must the prime contractor pay the subcontractors?
7 days
According to IRS rules and regulations the accrued federal unemployment taxes (FUTA)must be paid by the employer a fixed percentage on the first earned per employee.
7,000.00
What percentage of an employees gross pay for social security and Medicare taxes is an employer required to pay?
7.65%
Disturbing activities at the site
70%
If an employee is killed on the job,OSHA must be notified within. Hour
8
Contractor license bond amount required for a residential $150,000and $750,000
9,000.00
Contractor hire a subcontractor knowing that the subcontractors is not license to perform the work.What May the registrar impose upon the contractor
A civil penalty of less than $500
Comprehensive general liability insurance will cover all of the following except:
A contractor vehicle and employees
Which of the following is not covered under the handyman exemption
A license contractor performing work under $1000 working outside of the scope of the license
After 2008,which of the following is not required on a contract over 1000 dollars
A list of all sub-contractor
A person preforming construction activity on a small project may be exempt from obtaining coverage under a general permit from the ADEQ base on For the duration of the project
A low potential for soil erosion
A contractor that has more than 2 offenses of Arizona Statutes shall be fined
A minimum of $2000.00
A project owner,in order to ensure that a contractor will build a project according to specifications will require a contractor to furnish:
A performance bond
Which of the following is Not licensee
A sole proprietor
The air quality division that administers the air quality permits program is?
ADEQ
Which of the following Arizona statuses would you find the minimum elements of a contract
ARS32-1158
Which accounting method records income when it is earned
Accrual method
Which of the following is a benefit of a job cost recording system
Accurate estimating
What are modifications to contract documents called when they are issued before the date bids are accepted?
Addenda
What is used to issue Change correction or additions to competitive bidding documents issued before bid opening
Addendums
A license may make written application to the registrar for exemption form a qualifying party.The applicant shall show to the satisfaction of the registrar that during the past five years
All of the above
For which of the following reasons could the registrar refuse to renew a license
All of the above
If you have 8(10 or less)employees and you move to a new location which of the following is required?
An orally described escape plan
Who is responsible for repayment of a claim against the recovery fund
Any person named on the license at the time of the violation
On a commercial project,who typically certifies to the owner that progress payments requests are accurate and should be paid?
Architect or engineer
Who is responsible for certifying the amount of work completed on a project to the owner?
Architect/engineer
Contractors pay Arizona State sales tax to the:
Arizona Departement of Revenue
How would an LLC with a single owner be taxed?
As a sole proprietorship
The basic balance sheet equation is:
Assets=liabilities +owners equity.
Registrar issues a citation to when is the service of the citation completed
At the time of personal service or five days after deposit in the mail
sole proprietor dies
Automatically be cancelled
How is the required dollars amount of surety bond calculated
Based on estimate annual volume of work and license classification
When a qualifying party disassociate himself from the license,what action must be taken
Both parties must notify the agency with 15 days
A contractor is about to start a project and plans include manufacturers specifications.Local code also covers the construction requirements.What should the contractor do?
Build to manufactures spec.and local code
What type of insurance is most widely used to protect construction property?
Builders risk
What will happen in the instance of workmanship standards conflicts
Building Codes will prevail over workmanship standards
Which of the following business entities continue to exist even if one or more shareholders die?
C corporation
Which of the following is an advantage of the sole ownership form of business?
Can be sold or altered at will
Which of the following is not on a Income Statement?
Cash
What is the best way to keep track of ongoing costs for a project?
Cash flow
When scheduling a project what is the best method to make sure there's enough working capital to complete a project?
Cash flow
Which of the following must be filed when registering an Arizona limited partnership?
Certificate of Limited Partnership
A contractor is performing land clearing operations on a one acre home site.What environment preservation act regulates this activity
Clean Water Act Phase 2
When submitting payroll taxes,which of the following is required?
Complete W-4's for every employee on the payroll
When there is a judgment against a license who is responsible for taking care of the judgment
Contractor or license
When a corporation is doing business in the name of a division or using a trade name,what has to appear on the license
Corporation name and division name or trade name (all names)
A business pays taxes on it's profits and the owners pay additional income taxes on dividends they receive,what type of business is this?
Corporations
If an allowance is exceeded what should the contractor do
Create a change order
What is the equation used to determine working capital?
Current assets-current liabilities
If you have a note on a truck that is due to be paid off within the year,this is an example of?
Current liability
In Arizona it is a common practice to register a trade or business name and this is known as
DBA
When the contractor design and builds a project it is known as what type of contracting method
Design Build
Which one of the following is exempt from the ADEQ under a General Permit
Disturbing the soil on less than 1 acre
If you incorporate in Arizona,which type of form do you use to incorporate?
Domestic
What documents contains the actual physical description of the project to be constructed
Drawings
What does the EPA consider to be a major source of air pollution created by construction operations?
Dust from construction
According to OSHA,who is responsible to provide training on and supply employees with Materials Safety Data Sheets (MSDS)?
Employer
Who determines what safety equipment is used on the job ?
Employer
Who ensures a safe and healthy work environment?
Employer
Which of the following methods is used to reduce risk
Ensure subcontractors have insurance
When clearing a 1 acre site for building a home,what agency do you deal with?
Environmental protection agency
Which of the following can be used to create or track a budget for a project?
Estimate
A person that is the vice-president of a company and his duties also include project management and communication with superintendent and other employees is considered:
Exempt from overtime
An employee complete a W-4 form claiming a tax withholding exemption.The form must be completed by what date each year?
February 15
Each year the employer must file the annual report Form A1-R and include all wage and withholding statements with the State of Arizona the due date of:
February 28th
Two people are in business together and each owns 50 percent of ABC Homes,Inc.Which of the following is required?
File Articles with the Corporation Commission
What form is used to pay Federal Unemployment Tax ACT (FUTA)taxes?
Form 940
Asbestos that can be easily crushed into a fine dust by hand is called:
Friable
What contract document spells the specific rights,duties and responsibilities of the owner ,contractor and architect?
General Conditions
Transactions recorded in the cash receipts journals are summarized and posted to the:
General Ledger
Who is responsible for the overall construction of a project?
General contractor
Where would depreciation of fixed assets be recorded in the accounting process?
General journals
What is required to change the name on a license
Get a bond rider that reflects the name change
If you are going to replace a 4 foot by 8 foot area of Sheetrock in a house built before 1978,what must you do?
Give the home owner an EPA handout on lead paint
SWPPP (stormwater Pollution Prevention Plan)Should Implemented in accordance with good engineering practice,and shall do
Hire a guard for controlling water
A license contractor is responsible for all of the following except which
Hire and outside inspectors or engineer in jurisdictions that have not adopted building codes
What form must an employer have new employees complete in order to verify employment eligibility under the Immigration Reform and Control Act?
I-9
How soon after a payout from the residential contractor recovery fund is the contractors license suspended
Immediately
When must a contractor inform the registrar of a change in ownership
Immediately
An owner pays the contractor a day late and then the contractor left the project.the contractor is:
In breach of contract
What is the most important reason to have a daily log on the jobsite
In case any disputes arise
Holder of a license shall not comment
In excess of 750.00
What document shows the the amount of revenue from all jobs?
Income Statement
Which of the following statement Correctly describes the cash method of accounting?
Income/expenses are recorded at the time they are received/paid
Which type of contractor license does Arizona not issue
Industrial
How does the law rule on ambiguous provisions in a contract?
Interpretation will go against the party who wrote it
A written contract between a contractor and owner must have the Registrar phone number and website address if the contract amount i
Is more than a $1000
A company current assets are $68,000.00 and long term assets are $162,000.00,its current liabilities are $54,000.00 and long term liabilities are $72,000.00 This company. .
Is set to withstand a slow period
OSHA Shows up and and finds a violation,What can OSHA do?
Issues a citation
What happens to a sole proprietorship if the owner dies
It is terminated immediately
What is the latest date,employers can report the annual Federal Unemployment Tax Return on the form 940?
January 31
W-2s must be furnished to all employees before
January 31st
Lead abatement is which of the following?
Job is complete and lead is permanently eliminated
What type of insurance is considered to be an important part of the risk management program of a corporation in the case of the death of the president of the company
Keyman
If no final inspection or written acceptance are made then completion of a structure is when
Last data labor,materials,fixtures or tool were furnished to the property.
When uncertain about what type of entity is best for a company,seek advice from:
Legal counselor
When a company is using a lower profit margin they can expect
Less of a cushion for errors
When applying or renewing a contractor license all of the following are required except
License suspended or revoked within the Last 3years
Which type of business organization is taxed like a partnership,yet offers all the advantages of a corporation?
Limited liability company
which of the following individuals has no managerial decision of making power,and has liability restricted to the amount of investment
Limited partner
According to OSHA,an employer shall maintain certification of training for employee's who might be exposed to fall hazards.All of the following must be included on this certificate except?
Location of the training
What is the advantage of having low inventory?
Lower labor cost
What contract provided the owner with the total cost of the project In Advance?
Lump sum
Which type of construction contract binds the contractor to do a stipulated job in return for a fixed sum of money
Lump sum contract
Which of the following is responsible for creating Safety Data Sheets?
Manufacturers
The biggest advantage of using the Percentage of Completion Method for long-term (greater than one year or does not finish in the same year as started)contracts is that is does a better job of :
Matching revenue to the expenses incurred related to that revenue
You are a contractor beginning a project on May 1,a pre-lien should be sent before
May 21st
A person who is or was at the time of the act or omission name on the license that has been suspended because of a payout from the fund
May not receive a new license or retain another existing license
What does the contractor liability insurance cover
Member of the public
Which of the following is not an integral part of a contract
Negotiations
You are purchasing an insurance policy with an monthly premium of $300.00 If you implement a safety program you can save 10 percent on the cost of the policy.The safety program costs $400.00 to start and $15.00 a month maintain it.What would be the net difference in cost over three year period with a safety program?
Net saving of $140.00
When is a contractor responsible for owner-maintenance items
Never
Az had reciprocity agreements with California,Nevada,and Utah for contractor license if all of the following conditions are met except
No complaint or judgment in the last 2 years
What portion of the workers compensation insurance premiums can an employer deduct from an employee wages?
No deduction allowed
A company paid its federal unemployment tax,FUTA on the 21st of the month following the quarters end,what percent is used to calculate the penalty?
No penalty because of the 30 day grace period
How soon must a subcontractor file a claim against a performance or payment bond
No sooner than 90 days
After a license expires how many days extension do you have to finish the job
None
A contractor that is convicted of a fraudulent act of adverting a unlicensed person,a first of fensed shall be funded by the registrar a minimum of
Not less than $1,000
What civil penalty amount may be imposed by the registrar for not paying your taxes
Not to exceed 500
A contractor has a liability insurance policy with $1000 deductible.There is a job related accident resulting in $3000 damage to construction material,$5000 in injuries to employed personnel,and $1000 in injuries to non- employed persons.How much is due the contractor from insurance
Nothing
A contractor has a liability insurance policy with $1000 deductible.There is a job related accident resulting in $3000 damage to equipment,$3000 damage to job site's structure $3000 damage to construction materials $5000 in injuries to employed personnel and $1000 in injuries to non-employed persons.How much is due the employed person from the liability insurance policy
Nothing
If a subcontractor finds and inadequate of defective substrate prior to installation of tile what should he do
Notify the General Contractor and /or the owner in writing
When is a contractor required to enter into a written contract
On project between 2500 and 125,000
What is a dual license
One license for both commercial and residential
Under which of the following conditions may a specialty contractor accept and perform a contract requiring work outside the scope of his license
Only when the unlicensed work is incidental and supplemental to the work he is licensed to perform
According to OSHA,what type of evacuation plan is needed for an employer with 10 or fewer employees?
Oral
What is the minimum amount of taxes owed the State of Arizona before a corporation is required to make estimates tax payments?
Over 1000 dollars
The penalty for not completing a project on time was $500 per day.The project was 5 days late due to 10 days of rain.No action was taken by the contractor to change the due date.What is the cost of the penalty for not completing the project on time?
Owes $2,500
People working under the license
Owner
What is the advantage of being a sole proprietor?
Owner make all the decisions
Which one of the following is required to be license
Owner/builder what builds or improve structure that are intended for sale or rent with in one year
Not likely to have asbestos
Paint
Obtain a contractor license in the name of Pat Brown. Under what name can his contracting business be conducted
Pat Brown
Given:aliens cannot be filed against public property.What type of bond may be purchased to protect subcontractors vendors and workers seeking to get paid for their work and materials used on a public property project?
Payment bond
What is the definition of Liquidated damages?
Penalty for delay of project
The power and duties of the registrar includes all of the following except which
Perform field inspection
Who is responsible for the safety of the entire project or job site?
Prime contractor
When renewing a contractor license what information is required
Proof of compliance with worker compensation insurance
What is business interruption insurance design to do
Protect contractors from lost earnings due to delays in construction because of covered perils
Which of the following does not need to be license
Public utilities operating under the regulations of the corporation commission
All of the following can change a names on a contractors license except:
Qualifying Party
A resident may receive an award from the residential contractor recovery fund from all of the following except which
Receive an administrative judgement and does not file a claim with supporting documents
When a company is using a higher profits margin than usual they can expect
Receiving fewer jobs
Which one of the following is not a handyman exemption
Required to have liability insurance
Which of the following is not and Appartenance
Residential Structure
What does the "R" in the designation C-37R license scope
Restricted
What must accompany all hazardous chemicals to describe contents of hazards ,precautions and emergency procedures?
Safety Data Sheets
Which one of the following would be considered project overhead
Salaries of supervisors
A schedule showing dependencies will help primarily in:
Showing which tasks need completion
If a contractor performs the work according to specifications of the project and is responsible for the costs of all material and labor to obtain project completion,it is called
Single Prime contracting method
What type of building is a residential contractor allowed to build or remodel
Single start club house with 3 rooms owned by a residential community
Which of the following May an employer deduct from the wages of its employees
Social security and medicare
An entity whose owner is liable for all debts.
Sole proprietor
What business type pays the owner as individuals income
Sole proprietor
Which of the following can request the cancellation of the license of a sole proprietorship
Sole proprietor
Which one of the following is the simplest form of business to set up
Sole proprietor
Which of the following is considered a form of business organization?
Sole proprietorship
If you are estimating by square foot what is this called
Square foot method
Which one of the following types of financial statements examines the cash generating and distribution activities of a construction company?
Statement of cash flow
Who can cancel a bond
Surety bond company
Which one of the following would not be included on a profit and loss statement?
Taxes owed
When is the Transaction Privilege Tax (TPT)due?
The 20th of each month
Who shall rule on 9 scopes of work that may be done under the dual license
The Registral
A contracting company is evaluating its ability to complete a project in timely and efficient manner.Before bidding on the project the company should consider all of the following factors except:
The appropriate accounting basis and methods
Which of the following could require a corporation or LLC to apply for a new contractor license
The company formed a new company to do the contracting under
A contractor has a general liability policy with a $500 deductible.the contractor purposely disregard building code and workmanship standard resulting in $1000 in damage to the owner.Who is responsible
The contractor for $500 and the insurance company for $500
When a contractor purchase a property insurance policy it covers losses to business and property of
The contractor only
In a limited partnership,the decisions are made by:
The general partners
Surety bonds or cash deposits must be in who name
The license
Who should respond to the registrar of contractor in case of a service of citation and complaint of an act that is cause for suspension or revocation of a license
The license
Contractor license is revoked and a home owner calls the contractor back to do home owner calls the contractor back to do warranty work,what can the contractor do
The license may perform,without compensation,warranty work or other corrective work
What will happen if a license fails to comply with the requirements governing social security,workers compensation of unemployment compensation
The registrar may revoke the license and impose a civil penalty of $500
Which of the following must be stated on a contract
The right to file a grievance/violation with the registrar
If a qualifying party is listed on 2 license for different company and one company license is revoked what act can the registrar of contract take against the other license
The second license can be suspended or revoked
Why are oral subcontracts difficult to enforce?
The specifics of an oral contract may be difficult to prove
When a bid bond is required with a contractor bid it is intended to guarantee that:
The successful bidder will enter into a contract with the owner for the amount of the bid
Owner moves into a house and some of the appliances do not operate correctly,What does he do.
They are covered by manufacturers warranty
File a notice claim of mechanic material man
Title company
What is IRS form 941 used for?
To file Quarterly Employer's Tax Return
Why do you need to have change in writing?
To protect yourself
The amount of leeway allowed in starting and completing an activity without delaying the project completion date is.
Total float time
What form is used to report and pay quarterly unemployment tax to the Arizona Department of Economic Security
Unemployment Tax and Wage Report (UC-018)
Which of the following does not need a contractor license number on it
Uniforms and free things
Under a ADEQ general permit person preforming activities that disturb less than one acre are not required see coverage under the permit for construction project
Unless part of a larger common place of development or sale
What can you do to reduce the risk of EPA fines?
Use water to control dust
What does an injured home owner have to recover against any residential contractor in order to get paid from the recovery fund
Valid
A construction contract or and Architect Engineer Professional Service contract that purports to indemnify to hold harmless from liability for loss or damage
Void
In the state of AZ a clause in a construction contract to hold a contractor harmless is
Void
What is the penalty or what will happen to a contractor after a bid is accepted and the contractor refuses to do the job?
Will void the contract and end in litigation
Contractor discover a hazardous situation,how long do you have to report it to the owner
Within a reasonable period of time
The total current assets minus the total current liabilities equals the net:
Working capital
What are periodic payments or cost reimbursement made by the owner to a contractor,during a long construction period,called
progress payment
