NAS 3 Flashcards
1
Q
- An employer must report a work-related death to OSHA within hour(s).
A. 18
B. 10
C. 1
D. 8
A
- D 11-4
2
Q
- The maximum number of shareholders permitted within a C corporation is .
A. 55
B. 75
C. 25
D. Unlimited
A
- D 2-5
3
Q
- insurance will cover an individual when a hammer drops and strikes an innocent bystander on the foot.
A. Commercial General Liability (CGL)
B. Inland marine
C. Builders risk
D. Equipment theft
A
- A 3-4
4
Q
- A partnership is .
A. A relationship between two or more people
B. Shares characteristics of a sole proprietorship and corporate identity
C. Shares characteristics of a sole proprietorship, corporate identity general partnership
D. Contains nonexistence clauses
A
- A 2-2
5
Q
- Essential technological tools do NOT aid in tasks.
A. Scheduling
B. Vacationing
C. Bidding
D. Estimating
A
- B 4-2
6
Q
- A is a special business arrangement that exists when two or more companies join to undertake a specific project.
A. C corporation
B. LLC
C. Joint venture
D. General partnership
A
- C 2-6
7
Q
- is anything of value.
A. A signature
B. Consideration
C. A date
D. A counteroffer
A
- B 7-2
8
Q
- The pays workers’ compensation insurance.
A. Property owner
B. Building contractor
C. Employer
D. Employee
A
- C 10-11
9
Q
- A/an is a type of financial statement used to give insight into the growth and stability of the company at a particular point in time.
A. Income statement
B. Statement of cash flow
C. Balance sheet
D. P & L statement
A
- C 13-3
10
Q
- The cumulative earnings when the contract amount is $150,000 and the project is 80% complete is
.
A. $120,000
B. $90,000
C. $30,000
D. $60,000
A
- A 13-8
11
Q
- The EPA has estimated that about percent of known pollution to our nation’s waters is attributable to storm water runoff.
A. 30
B. 40
C. 20
D. 50
A
- A 11-11
12
Q
- In a contract, the contractor essentially assumes all of the risk because the contractor is responsible for additional costs associated with unforeseen circumstances.
A. Lump-sum
B. Unit-price
C. Cost-plus
D. Percentage markup
A
- A 7-5
13
Q
- Form establishes eligibility and identity to work in the United States.
A. W-4
B. SS-4
C. I-9
D. W-2
A
- C 10-5
14
Q
- Ethics does NOT have to do with .
A. Showing up on the job on time
B. What you say you are going to do
C. Doing the right thing
D. Lying to the customer to get the job
A
- D 4-2
15
Q
- When negotiating, one should .
A. Aim low
B. Aim high
C. Be non-resilient
D. Be non-complying
A
- B 9-2
16
Q
- What is the gross pay of a non-exempt employee who works 50 hours during a holiday week, and receives 8 hours additional pay for the holiday? The employee earns $13.50 per hour.
A. $850.50
B. $985.50
C. $995.50
D. $837.50
A
- A
Hourly Rate (straight time) = $13.50 Overtime Rate = $13.50 x 1.5 = $20.25 Calculation
40 hours x $13.50 (straight time) = $540.00
10 hours overtime x $20.25 (overtime rate) = $202.50
8 hours (straight time) for holiday pay = 8 x $13.50 = $108.00
$540.00 + $202.50 + $108.00 = $850.50 Total Pay
17
Q
- Form I-9 must be kept for at least year(s) from the date of hire.
A. 1
B. 2
C. 3
D. 4
A
- C 10-5
18
Q
- A quantity take-off method is similar to a contract.
A. Lump-sum
B. Cost-plus
C. Percentage of completion
D. Unit-price
A
- D 6-3
19
Q
- A downside to public relations is .
A. Labor-intense nature
B. Build name recognition
C. Inexpensive
D. Keep in the eye of the public
A
- A 5-2
20
Q
- What is the bid for the following when there is combined profit and overhead of 30%?
- 10 units at $75.00 each
- 20 units at $200.00 each
- 30 units at $290.00 each
A. $13,450
B. $16,379
C. $19,214
D. $22,841
A
- C 6-6
10 x $75 = $750
20 x $200 = $4000
30 x $290 = $8700
$750 + $4000 + $8700 = $13,450
$13,450/.70 = $19,214
21
Q
- A/an is NOT an element of the business plan.
A. Marketing strategy
B. Executive summary
C. Employee handbook
D. Cover page
A
- C 1-2
22
Q
- A does not require an EIN.
A. Corporation
B. Partnership
C. Sole proprietorship that has no employees
D. LLC with two owners
A
- C 14-1
23
Q
- Professional liability insurance is used for .
A. Errors and omissions
B. Injured employees
C. Injured bystanders
D. Perilous injuries
A
- A 3-4
24
Q
- Unemployment insurance is for employees who have been .
A. Laid-off
B. Fired
C. On a paid vacation
D. Injured at construction site
A
- A 3-5
25
26. Exposure records (including employee exposure to toxic substances and harmful physical agents) must be maintained for years.
A. 5
B. 10
C. 25
D. 30
26. D 11-4
25
24. time establishes a buffer between tasks.
A. Contingency
B. Float
C. Continuous
D. Proposed
24. A 8-2
26
27. A breach of contract is NOT when a party .
A. refuses to perform the contact
B. performs an act prohibited by the contract
C. prevents the other party from performing obligations
D. uses similar materials for an installation
27. D 7-4
27
28. When conflict exists between codes and specifications within the project documents, one must follow
.
A. Specifications
B. Building codes
C. Plans
D. The stricter of the two
28. D 6-2
28
29. Which of the following is NOT a key characteristic of a partnership?
A. Formed with an oral agreement
B. Keep separate bank accounts for business necessities
C. All owners have personal liability
D. Continuance of organization in the event of death of a partner
29. D 2-2
29
30. To pay for labor and maintenance as they occur, one should use .
A. A contract
B. Progress payments
C. Lawyer
D. Accountant
30. B 7-2; 7-3
30
32. The architect issues a for final payment and once structure can be used for its intended purpose.
A. Certificate of Substantial Completion
B. Certificate of Occupancy
C. Temporary Certificate of Occupancy
D. Certificate of Compliance Occupancy
32. A 7-3
31
31. An Emergency Action Plan (EAP) should include the .
A. Student’s name
B. Employer’s name
C. Administrator’s name
D. Emergency contact information
31. C 11-3
32
34. A bond guarantees against defects, material or workmanship.
A. Bid
B. Performance
C. Payment
D. Maintenance
34. D 3-7
32
33. Which of the following pertains to bid shopping?
A. Lowering the original contract price after the bid is accepted
B. Collusion when contractors coordinate their bids to a fixed fee
C. Contractor reveals original bids submitted
D. Subcontractor approaches general contractor with the intent of lowering the bid.
33. C 6-2
33
35. is the average collection period ratio for a firm that has $400,000 in annual revenues,
$7,600 in current receivables, and net income of $42,000. (Select closet answer)
A. 6.93
B. 6.39
C. 7.54
D. 5.87
35. A 13-6
Revenue ÷ days in business year = sales per day
Current receivables ÷ sales per day = average collection period
$400,000 ÷ 365 = $1,095.85
$7,600 ÷ $1,095.85 = 6.93
34
36. A/an does NOT establish an employee’s identity to legally work in the United States.
A. U.S. Passport
B. Social Security card
C. Alien Registration Receipt Card
D. Driver’s License
36. B Chapter 10 – Last page
35
37. laws secure the right of employees to decide if they wish to support or join a union.
A. Right-to-work
B. Equal Pay
C. Right-to-unionize
D. Right-to-engage
37. A 10-8
36
38. illustrates the interdependent relationship of scheduling tasks.
A. Gantt chart
B. Critical path
C. Bar chart
D. Float chart
38. B 8-5
37
39. scheduling consists of dates, delivery dates, payment schedule and vacations. It is a simplified method.
A. Calendar
B. Bar chart
C. Gantt chart
D. Critical path
39. A 8-3
38
40. OSHA records must be kept by an employer if more than employees.
A. 1
B. 8
C. 10
D. 11
40. C 11-3
39
41. OSHA regulations require you have an Emergency Action Plan (EAP) in writing if you have more than
employees.
A. 2
B. 5
C. 10
D. 11
41. C 11-3
40
42. Generally, the project’s life cycle does NOT entail .
A. Contract award
B. Construction phase
C. Job completion and close out
D. Post construction
42. D 8-8
41
44. The regulates the Clean Water Act.
A. EPA
B. IRA
C. ESPN
D. DOT
44. A 11-10
42
43. Medicare tax is calculated at the rate of percent of gross pay.
A. 1.45
B. 2.7
C. 2.9
D. 6.2
43. A 13-14
42
45. should NOT be tolerated at a job site.
A. Foul language
B. Clean jobsite
C. Provide everyone’s tools
D. Behave professionally
45. A 12-2
43
46. What is the purpose of just-in-time-deliveries?
A. Profit low and vandalism high
B. Profit low and vandalism low
C. Profit high and vandalism high
D. Profit high and vandalism low
46. D 8-9
44
47. The foreman does NOT assist the project superintendent with .
A. Reviewing project plans
B. Inspecting work areas
C. Training employees
D. Procuring materials
47. D 8-7
45
48. OSHA Form serves as an individual incident report providing details about each specific recordable injury or illness.
A. 300
B. 300A
C. 301
D. 200
48. C 11-3
46
49. Given: An employee’s gross weekly payroll for a certain week is shown below. Use the Wage Bracket Method to determine the withholding.
Marital Status Total # Exemptions Hourly Wage Regular Hours Overtime Hours
Married 2 $28.00 40 0
The total amount of Federal Income Tax (only), to be deducted from the gross wages is . (choose closest answer)
A. $58
B. $68
C. $79
D. $80
49. D 13-12; 13-13
$28.00 x 40 hour/week = $1,120
Look at chart under wage amount of at least $1,120 and
the number of allowances of 2
47
50. An employee’s gross pay for the week is $1,150. The following is deducted from their paycheck:
* Federal Withholding: $119.58
* Social Security: $71.30
* Medicare: $16.67
* State Withholding: $0 What is their net pay?
A. $942.45
B. $1,030.42
C. $1,048.00
D. $1,062.03
50. A 13-13; 13-14
$1,150 - $119.58 - $71.30 - 16.67 = $942.45
