NAS 3 Flashcards
- An employer must report a work-related death to OSHA within hour(s).
A. 18
B. 10
C. 1
D. 8
- D 11-4
- The maximum number of shareholders permitted within a C corporation is .
A. 55
B. 75
C. 25
D. Unlimited
- D 2-5
- 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 3-4
- 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 2-2
- Essential technological tools do NOT aid in tasks.
A. Scheduling
B. Vacationing
C. Bidding
D. Estimating
- B 4-2
- 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
- C 2-6
- is anything of value.
A. A signature
B. Consideration
C. A date
D. A counteroffer
- B 7-2
- The pays workers’ compensation insurance.
A. Property owner
B. Building contractor
C. Employer
D. Employee
- C 10-11
- 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
- C 13-3
- 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 13-8
- 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 11-11
- 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 7-5
- Form establishes eligibility and identity to work in the United States.
A. W-4
B. SS-4
C. I-9
D. W-2
- C 10-5
- 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
- D 4-2
- When negotiating, one should .
A. Aim low
B. Aim high
C. Be non-resilient
D. Be non-complying
- B 9-2
- 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
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
- Form I-9 must be kept for at least year(s) from the date of hire.
A. 1
B. 2
C. 3
D. 4
- C 10-5
- A quantity take-off method is similar to a contract.
A. Lump-sum
B. Cost-plus
C. Percentage of completion
D. Unit-price
- D 6-3
- 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 5-2
- 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
- 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