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Quiz

1/10
Accounting Functions
A Florida contractor's balance sheet shows total assets of $840,000 and total liabilities of $515,000. What is the owner's equity?
Select the answer
1 correct answer
A.
$1,355,000
B.
$325,000
C.
$515,000
D.
$840,000

Quiz

2/10
Administrative Duties
An owner issues an invitation to bid for a commercial remodel. Which element is most essential for the invitation to serve its administrative purpose of producing comparable bids?
Select the answer
1 correct answer
A.
The estimated construction cost the owner has budgeted for the project
B.
The time, date, and place for bid submission and opening, plus a description of the work and the bid documents available
C.
The names of every contractor invited so bidders know their competition
D.
The owner's financing source and the lender's loan approval letter

Quiz

3/10
Regulatory Compliance
A licensee holds a Division I certificate in the general contractor category. A client asks whether that license limits the height or type of building the firm may contract to construct. What is the correct statement of scope?
Select the answer
1 correct answer
A.
The scope is limited to buildings of three stories or fewer regardless of occupancy type
B.
The scope is unlimited as to the type of work within the definition of contracting
C.
The scope is limited to structures whose contract value does not exceed a fixed statutory dollar cap
D.
The scope covers only structural work and excludes any interior finish work

Quiz

4/10
Establishing the Contracting Business
A carpenter starts a remodeling business as a sole proprietor without forming any entity. Which statement best describes the consequences of that choice?
Select the answer
1 correct answer
A.
Business debts can be collected only from business assets
B.
Business income is taxed at the corporate rate before distribution
C.
The business must file its own separate income tax return
D.
The owner has unlimited personal liability and reports business income on a personal return

Quiz

5/10
Human Resources
During an interview for a carpenter position, which question is unlawful or creates the greatest discrimination exposure for the employer?
Select the answer
1 correct answer
A.
Do you have children at home, and who watches them while you work?
B.
This position requires repeatedly carrying eighty pound loads up ladders. Can you perform that with or without a reasonable accommodation?
C.
Are you legally authorized to work in the United States?
D.
Have you completed an OSHA ten hour construction course?

Quiz

6/10
Trade Operations
A contractor's field superintendents have been calling suppliers directly and buying materials on the company charge account without documentation. Invoices arrive with prices no one recognizes and quantities no one can verify. Which purchasing control most directly corrects this?
Select the answer
1 correct answer
A.
Requiring suppliers to email invoices to the accounting department instead of the jobsite
B.
Paying all supplier invoices net thirty rather than on receipt
C.
Requiring a written, numbered purchase order approved by an authorized buyer, with quantity, unit price, delivery date and job and cost code, matched to the packing slip and invoice before payment
D.
Switching to a single supplier for all commodities to simplify pricing

Quiz

7/10
Project Contracts
A homeowner verbally tells a contractor to go ahead with a bathroom remodel for 18,000 dollars, the contractor begins demolition, and the homeowner later denies any agreement. Which essential contract element is most clearly supplied by the contractor's performance and the promised price?
Select the answer
1 correct answer
A.
Consideration
B.
Capacity
C.
Legality of purpose
D.
Integration

Quiz

8/10
Preconstruction Activities
While reviewing an invitation to bid, an estimator finds that the instructions to bidders require bid security of five percent, allow no alternates, and set a mandatory prebid site visit. Which item most directly determines whether the bid can be considered at all?
Select the answer
1 correct answer
A.
The estimator's judgment about whether alternates would benefit the owner
B.
Compliance with the mandatory prebid visit and the bid security requirement, because both are conditions of responsiveness
C.
The unit price sheet, which can be completed after opening
D.
The identity of the low subcontractor in each trade

Quiz

9/10
Licensing and Permits
A Florida certified residential contractor is asked to build a four-story, eight-unit apartment building. What is the correct assessment of scope?
Select the answer
1 correct answer
A.
Acceptable, because residential contractors may build any residential structure
B.
Beyond the residential scope, which is limited to one-, two-, or three-family residences not exceeding two habitable stories above an uninhabitable story, so a general or building contractor is required
C.
Acceptable if the contractor subcontracts the structural frame
D.
Acceptable because apartments are commercial rather than residential

Quiz

10/10
Construction Procedures
Which set of information belongs in a properly prepared daily report?
Select the answer
1 correct answer
A.
Only the number of workers present and the weather
B.
Weather, manpower by trade, equipment on site, work performed by location, deliveries, visitors, inspections, and delays or unusual events
C.
Only the items that support pending change order requests
D.
A narrative of the superintendent's opinions about subcontractor performance and personnel disputes
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