Download NASCLA Contractors Guide questions with correct answers. and more Exams Construction in PDF only on Docsity! NASCLA Contractors Guide questions with correct answers 3 elements of a business plan - ANSWER --cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan advantages of sole proprietorship - ANSWER --minimal legal restrictions -simple ownership form -low start up costs -sole ownership of profits -freedom in decision making process disadvantages of sole proprietorship - ANSWER --unlimited personal liability -less available capital -possible difficulty obtaining long-term financing -dissolution of the business on the even of the owner's death who has limited liability in the company? - ANSWER -limited partners advantages of a general partnership - ANSWER --ease of formation -direct profit rewards -larger management base than that of a sole proprietorship disadvantages of a general partnership - ANSWER --unlimited personal liability of general partners -multiple decision makers -limited life of the business -changes of partners or partnership agreement may be difficult -partnership dissolves in the event of the death of a general partner bid documents - ANSWER --invitation to bid -bid instructions -bid forms -supplements what is an invitation to bid - ANSWER -gives a brief overview of the project, deadlines, and general requirements bid instructions - ANSWER -contain specifics of how the bis should be completed and submitted bid forms - ANSWER -bid sheet bid schedule bidder's questionnaire on the experience financial responsibility and capability copy of the contract supplements - ANSWER -includes all items important to the overall bid process such as property and soil analysis what is the estimating checklist helpful for? - ANSWER -when setting up your estimating framework to make sure that you have accounted for all materials and labor what is the most effective estimating method? - ANSWER -quantity take off method cost plus lump sum contract - ANSWER -contractor agrees to complete the project for a predetermined, specified price unit-price contract - ANSWER -used for jobs where the extent of work cannot be fully determined or the actual quantities of required items cannot be accurately calculated in advance cost plus contract - ANSWER -contractor is reimbursed for the actual cost of labor and materials and is paid a markup fee for overhead and profit a written agreement between the owner and contractor to change the contract - ANSWER -change order why are oral agreements bad? - ANSWER -not a good way to do business! get it in writing legal interpretation - ANSWER -if the contract cannot be clarified based on this method, the interpretation will go against the party who wrote it 3 types of scheduling methods - ANSWER -calendar bar chart critical path dates, delivery dates, payment schedules and employee vacations are what type of scheduling? - ANSWER -calendar what is the main weakness of bar chart and calendar scheduling? - ANSWER -do not show the interdependencies of activities shows the activity duration and sequence of tasks to be completed - ANSWER -bar chart scheduling shows the relationship between tasks - ANSWER -critical path method of scheduling what is not a part of cash management? - ANSWER -bidding bidding is a part of what? - ANSWER -project management prohibited hiring questions - ANSWER -how old are you do you have any disabilities are you pregnant are you married do you have children religion sexual orientation ethnicity employee documentation - ANSWER -I-9 w-4 w-5 state tax form employment application policy signoffs emergency notification forms what applies to employers that have one or more employees? - ANSWER -fair labor standards act fair labor standards act - ANSWER -prescribes standards for the basic minimum wage and overtime pay how many hours are in a work week - ANSWER -168 not following the FSLA results in what? - ANSWER -penalties how many days do you have to complete I-9 forms? - ANSWER -3 how long must you keep immigration and I-9 forms? - ANSWER -3 years after the date of hire americans with disabilities act - ANSWER -applies to employers with 15+ employees prohibits discrimination of persons with disabilities FMLA allows employees to do what? - ANSWER -take up to 12 weeks unpaid job-protected leave each year creating a safe work environment is a good way to what? - ANSWER -run your business if you have more than 10 employees your Emergency Action plan must be? - ANSWER -written (NOT ORAL) when is OSHA form 300 not required? - ANSWER -when there are fewer than 10 employees what are the 3 OSHA forms for employers with over 10 employees? - ANSWER -OSHA 300 OSHA 300A OSHA 301 how long do you keep OSHA 300? - ANSWER -5 years if a death occurs, how many hours do you have to report that to OSHA - ANSWER -8 environmental law includes... - ANSWER -clean water act clean air act