The costs of running your business, including office expenses, etc., is called:
a. Direct Costs
b. Overhead
c. A liability
d. Accrual
b.
... [Show More] Overhead
Which government agency collects State Unemployment Tax?
a. Employment Development Department
b. County Unemployment Office
c. Franchise Tax Board
d. Internal Revenue Service
a. Employment Development Department
Who does not need a California Contractor's State License?
a. Someone who repairs or maintains an air-conditioning unit or heat-pump unit.
b. Someone who installs mobile-homes
c. Someone who digs wells on the property of others
d. Sale or installation of finished products that do not become a fixed part of the structure
d. Sale or installation of finished products that do not become a fixed part of the structure
Which of the following is not part of a Home-Improvement Contract?
a. Mechanic's Lien Warning
b. Notice of Cancellation
c. Twenty-Day Preliminary Notice
d. All of the above.
c. Twenty-Day Preliminary Notice
Prime Contractor must pay subcontractor when?
a. 10-days after Prime-contractor received payment
b. When Prime-contractor receives withheld retention monies
c. 30-days after completion
d. As soon as subcontractor completes the work
a. 10-days after Prime-contractor received payment
The Contractor's Surety Bond is necessary for most contractors to obtain their license. This bond is in the amount of:
a. $2,500
b. $7,000
c. $15,000
d. $25,000
c. $15,000
How long with the CSLB hold a contractor responsible for observable defects?
a. 5-years
b. 4-years
c. 3-years
d. 2-years
b. 4-years
In which of the following circumstances must a licensed contractor provide their license number?
a. On all contracts
b. On all advertising
c. On all "20-day Preliminary Notices"
d. All of the above
d. All of the above
How many classifications can a Responsible Managing Employee apply for?
a. One
b. Two
c. None
d. As many as the RME can qualify for
d. As many as the RME can qualify for
If a contractor includes a provision in a contract for the use of private arbitration and a dispute between the owner and the contractor makes arbitration necessary, who will bear the cost of the private arbitration?
a. The California Contractor's License Board
b. The property owner
c. The prime contractor
d. The property owner and the prime contractor will split the cost of the private arbitration
d. The property owner and the prime contractor will split the cost of the private arbitration
State Disability Insurance is paid by:
a. Employees only
b. Employers only
c. Both employers and employees
d. Neither employers nor employees
a. Employees only
A contractor estimates labor and materials costs for a job to be $2,500.00. Allowing for 15% overhead and 18% profit, what should the total bid be?
a. $3,222.00
b. $3,731.00
c. $3,018.00
d. $3,825.00
b. $3,731.00
Who is responsible for determining when the project is complete?
a. The prime contractor
b. The building inspector
c. The subcontractor
d. The owner or his/her agent
d. The owner or his/her agent
Which of the following need a California Contractor's License?
a. A mill worker who constructs cabinets
b. A civil service repairman
c. An individual who installs, repairs, or monitors a fire alarm system
d. A pool supply company
c. An individual who installs, repairs, or monitors a fire alarm system
Which of the following needs a California Contractor's License?
a. Moving a mobile home
b. Owner-builder
c. Registered architect/engineer
d. Installation of finished products that do no become a permanent fixture to the property.
a. Moving a mobile home
State Sales Tax and Use Taxes are collected from customers, then reported and sent to:
a. Internal Revenue Service
b. Franchise Tax Board
c. State Board of Equalization
d. None of the above
c. State Board of Equalization
During a declared state of emergency how much may a contractor increase his/her prices?
a. Contractor is not allowed to increase prices at all.
b. 15% above the prices just prior to the declared state of emergency
c. As much as the client is willing to pay
d. 10% above the price just prior to the declared state of emergency
d. 10% above the price just prior to the declared state of emergency
Which of the following would be protected by a Contract Bond?
a. A client damaged by the contractor's violation of the contract
b. Any person damaged by contractor fraud
c. Any person damaged by a contractor's failure to pay wages
d. All of the above
d. All of the above
A Stop Notice is a?
a. Lien on the funds
b. A notice to stop the work
c. A required legal notice that the Prime contractor sends to the property owner, agent, or lender.
d. None of the above
a. Lien on the funds
A new-hire will fill out an _____ form to verify their employment eligibility status.
a. 1099
b. DE-1
c. US-99
d. I-9
d. I-9
If an employee quits, wages are due within ____ hours.
a. 24-hours
b. 48-hours
c. Immediately
d. 72-hours
d. 72-hours
A strike is when ___% or more of the employees legally refuse to perform their work.
a. 10
b. 25
c. 50
d. 80
c. 50
A lockout is when an employer refuses ____ or more employees to work because of a dispute.
a. 20
b. 15
c. 10
d. 5
d. 5
An employee who works ___ weeks during a calendar year is eligible for FUTA.
a. 4
b. 8
c. 16
d. 20
d. 20
Which of the following may qualify for more than one active California Contractor's License?
a. 10% Partner
b. Sole Proprietor
c. RME
d. RMO with 15% ownership
b. Sole Proprietor
Which is true of an inactive license?
a. Is given to retired contractors
b. Must be renewed every 4-years
c. The contractor can only contract for jobs under $100
d. Is given to contractors who lose their license
b. Must be renewed every 4-years [Show Less]