Exam questions Flashcards
Erosion and sediment control measures must be designed to control runoff of a _____ year storm.
10
When must a contractor must pay a subcontractor?
When the subcontractor submits an invoice
Applications to become a licensed contractor must be submitted to the board more than _______ days prior to the regular meeting of the board.
30
The contractor must notify the board________ when the qualifier leaves the company.
Within 7 days
The contractor must notify the board within ______ days of the qualifier leaving employment with the company.
90
The unauthorized practice of acting as a general contractor is ________
Class 2 Misdemeanor
Who must have a contractor’s license to perform their normal duties relative to building a structure except.
Engineer
No permit shall be issued on a commercial building when the cost exceeds _________ , unless the drawings have been sealed by a North Carolina professional.
$50,000
One important use of the general ledger is to _______________.
compile financial statements
The two most common types of insurance in the construction industry are
Workers’ compensation and liability
What MUST be included in a valid contract?
Identities of the parties
The document requesting an extension of time is called a _______.
Claim
A contract requires the contractor to indemnify the owner for any liability the owner might incur under the contract. The contractor should
Have the contract reviewed by an attorney
General overhead cost include:
Withholding taxes and workers compensation cost
When a company submits payroll taxes to the IRS it must:
Have previously completed a W-4 form for all employees added to the payroll
Which of the following is included in project overhead?
temporary jobsite office
According to the EPA, when is a contractor required to create and implement a Storm Water Pollution Plan?
When the project disturbs one acre or more
One primary weakness of using a time scale (bar chart) to schedule construction activities is that it
Does not show when activities should occur
In an estimate, a contractor should account for added security of a project site by applying all the following
Order large quantities of materials to minimize the number of deliveries
The time that a project component can delay completion of the overall project is known as
Control time
A manufacturer’s specification publication for a type of work is incorporated by reference into the contract specifications. This type of work is also covered by the local code. The best solution would be for the contractor to
Perform the work in accordance with the local code only
An owner makes a progress payment to the contractor one day later than originally called for by the contract. The contractor leaves the job before completing it. The contractor probably is
Legally justified
Which type of contract will result in a progress payment that is based on current percentage of completion?
Cost plus
The time that a project component can delay completion of the overall project is known as
Float time
A recognized process for improving company profit is
Improve safety
An employee notices a possible safety hazard on a construction project. The employee notifies the contractor. Safety regulations do not address the hazard. What should the employee do?
Correct the hazard
All the following methods can be used to remit Federal income tax deposits except
Including payment with a timely filed Federal income tax return
A business must meet the requirements of the Fair Labor Standards Act when they have more than ________ employee.
One
