CONTRACTORS LICENSE IN ARIZONA EXAM QUESTIONS WITH 100% VERIFIED ANSWERS, Exams of Business Administration

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CONTRACTORS

LICENSE IN ARIZONA

EXAM QUESTIONS

WITH 100% VERIFIED

ANSWERS

how many employees are you required to have in order to have works comp? more than 1 employee if you fail to identify and mark underground utilities, how much do you have to pay for violation you can be fined up to 5000 dollars for the first violation, and up to 70000 dollars sets limits on how much of a air pollutant is allowed in the air. the clean air act when does the fair labor act apply it applies to employers that have 1 or more employee what is form I- 9

this form is used by immigration ,to make sure employees has legal immigration status in the usa what is project over head items needed to complete the project ex; bonds,temporary storage,dumpsters,security guards , porter potties,etc. makes up 5-10% of bid what is the clean water act establishes the basic structure for regulating disharges of pollutants into the waters of united states what are current liabilities liabilities that will mature and must be paid within 1 year immigration forms must be kept for how long at least 3 years what is a maintance bond guarantees that for one year no defective workmanship or material will appear on completed project liability insurance is what to protect 3rd party claims keyman life insurance its to continue business if one dies or becomes incapacitated how much money is deducted from employee to pay for works comp nothing. employer pays for everything how soon must form I-9 be completed by it should be completed within 3 days of hire

how long should you keep lead pamphlet receipt for must be kept for 3 years bonds or cash deposits should be under whos name the licensee how soon should you do a publication you must publish within 60 days for 3 consecutives publications who certifies when a project is complete and the work meets conditions of the contract documents the architect or the engineer what are progress payments are partial payments made after specified phases of construction are complete what is the single prime method its when a project owner hires an architectural firm to design the project the contractor then perfume the work what is a payment bond guarantees that subcontractors and suppliers will be paid for work if they perform properly under the contract a corporate name may be reserved with the corporation commission for how many days 120 days prior to incorporation how long should employees keep tax records for? at least 4 years what is all risk builders insurance

it covers property owners n builders for buildings under construction. typically covers machinery equipment , materials supplies and fixtures what is property insurance typically it covers your business n personal property when damaged theft or loss.. what is works comp it protects employees when they get injured at work what is design and build the owner contracts one company to complete the process from start to finish what is company overhead its the cost of doing business. in other words keeping it running. like office rent, taxes, phone, accounting fees who are exempt from maintaining osha records employers with 10 or fewer employees what happens when 1 of the parties involved fails to perform in accordance with any of the terms and condition of the contract they go into a breach of contract the registrar may impose civil penalties of not to exceed how much per violation not to exceed over 500 dollars every person making an application for a license shall pay an assessment of not more than how much 600 dollars any person who is or was at the time of omission named on the license is not eligible to receive a new license until when ??

until the fund is paid in full if any amount is paid from the fund settlement of a claim arising the license will automatically be suspended by operation of law until when?? until the amount paid from the fund is repaid in full plus interest of 10% a year the liability of the fund shall not exceed how much money 200,000 dollars what is the equation for the balance sheet assets= liabilities+owners equity performance bond guarantees that the contractor will complete a contract within its time frame and conditions what is the equation for the working capital current assets - currents liabilities =working capital how long is the register of a trade name effective for 5 years how many days do you have to answer a complaint? what happens if you don't reply you have 10 days to reply. if you don't reply your license will be suspended or revoked how long are az license valid for 2 years how many employees do you need to have an emergency action plan more than 10 employees and it must be in writing

how many employees must you have in order to get works comp?? 1 or more if death occurs at work how many hours do you have to notify osha within 8 hours who is responsible for the material safety data sheets for hazardous materials the manufacturer or the importer what are the license categories residential commercial dual registration of trademark is effective for how many years 10 years complaints against contractors are kept on public record for how many years 2 years to renew a license the applicant shall? provide name and address, current privileged licensce number , and proof that the applicant has complied with status and rules what is osha form 301 its an individual incident report what is osha form 300 a a summery of the previous years work related injuries what is osha form 300 its an injury/ illness log how long must osha record be kept for

5 years applicant must advise registrar of any changes to the info such as change in address in how many days 30 days changes prior to the contract awarded are called addenda what is an addendum its when changes are made to the bid package before it is due how many weeks can you take off with the family medical leave act you can take up to 12 weeks, and you cant loose your job what form is used to report and pay quarterly unemployment taxes form uc- 18 what is a work week its a period of 168 hours during a seven consecutive 24 hour period form 300 a must be posted by what days feb 1st and kept till april 30th what is irs form w4 used for its required to determine the appropriate level of federal tax withholding a license that has been suspended for failure to renew may be re activated within how many years 1 year what is the fine for failure of license renewal

50 dollars a contractor may request the registrar to inactivate his license not to exceed how many years 5 years what is total float time refers to the amount of leeway allowed in starting or completing on date to obtain a license a person shall not have what their license refused or revoked within 1 year what is a written agreement between the owner and the contractor to change the contract called a change of order an owner may make progress payments on contracts less then how many days 60 days material breach. if a contractor refuses to perform or complete a job or owner refuses to pay this breach may be void the contract will most likely end up in a litigation