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Contractor Exam Questions and Answers: Construction Management and Legal Compliance, Exams of Construction

Princeton UniversityConstruction

A series of exam questions with correct answers related to general contracting, covering topics such as estimating methods, contract types, insurance, project management, ethical behavior, and legal compliance. It includes questions on cost estimation, risk management, labor laws, and financial statements, providing a comprehensive overview of the knowledge required for contractors. The material is designed to test understanding of industry standards and best practices, making it a valuable resource for exam preparation and professional development. Useful for students and professionals in the construction industry.

Typology: Exams

2024/2025

Available from 07/13/2025

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VA /
/Contractors /
/General /
/(Class //
A /
/or //B) //Exam //Questions //With //Correct //Answers
Which /
/of /
/the /
/following /
/estimating /
/methods /
/is /
/typically /
/used /
/by /
/the //architect //rather //than //the //contractor? //- //correct //answer(s) //✔✔ //Conceptual //estimate
An /
/agreement /
/that /
/calls /
/for //
a /
/contractor /
/to /
/be /
/paid /
/actual /
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Partial preview of the text

Download Contractor Exam Questions and Answers: Construction Management and Legal Compliance and more Exams Construction in PDF only on Docsity!

VA /

/Contractors /

/General /

/(Class //

A /

/or //B) //Exam //Questions //With //Correct //Answers

Which /

/of /

/the /

/following /

/estimating /

/methods /

/is /

/typically /

/used /

/by /

/the //architect //rather //than //the //contractor? //- //correct //answer(s) // ✔✔ //Conceptual //estimate

An /

/agreement /

/that /

/calls /

/for //

a /

/contractor /

/to /

/be /

/paid /

/actual /

/costs /

/for /

/labor /

/and /

/materials /

/plus //

a /

/fixed /

/fee /

/for /

/the /

/contractor's //overhead //and //profit //is //called //a... //- //correct //answer(s) // ✔✔ //cost //plus //contract

Equipment /

/needs /

/for //

a /

/project /

/are /

/BEST /

/estimated /

/by... //- //correct //answer(s) // ✔✔ //Calculating //the //number //of //hours //or //days //it //is //needed

What /

/type /

/of /

/insurance /

/is /

/needed /

/for //

a /

/partnership /

/to /

/insure /

/that //the //business //does //NOT //go //out //of //business //if //one //partner //dies? //- //correct //answer(s)

// ✔✔ //Key //man

Compensation /

/paid //to //independent //contractors //is //reported //on //Form... //- //correct //answer(s) // ✔✔ // 1099

The //BEST //business //practice //for //special-

ordered //materials //is //to... //- //correct //answer(s) // ✔✔ //put //the //order //requirements //in //writing

A /

/contract /

/refers /

/to /

/an /

/insurance /

/agreement /

/that /

/the /

/contractor /

/is //REQUIRED //to //have. //This //is //considered... //- //correct //answer(s) // ✔✔ //Part //of //the //contract

Records /

/of /

/an /

/employee's /

/exposure /

/to /

/hazardous /

/materials /

/MUST //be //kept //a //MINIMUM //of //how //many //years? //- //correct //answer(s) // ✔✔ // 30 //years

AT /

/LEAST /

/how /

/often /

/should /

/employees /

/watch //for //possible //hazards //at //the //job //site? //- //correct //answer(s) // ✔✔ //constantly

An /

/employee /

/can /

/request /

/to //receive //advance //earned //income //credit //on //Form... //- //correct //answer(s) // ✔✔ //W-

A /

/contractor /

/uses /

/funds /

/paid /

/by //

a /

/project /

/owner /

/to /

/purchase /

/materials /

/to /

/start //

a /

/different /

/project. /

/The //laborers //for //the //original //project //do //NOT //get //paid //by //the //contractor. //Under //the //lien

//law, //this //is //considered... //- //correct //answer(s) // ✔✔ //Intent //to //defraud //by //the //contractor

What /

/should /

/be /

/added /

/to /

/wage /

/the /

/number /

/of /

/new /

/hires /

/in /

/order /

/to /

/meet /

/the /

/requirements /

/of //the //Child //Support //Enforcement //Act? //- //correct //answer(s) // ✔✔ //every // 2 //months

Costs /

/that /

/relate /

/to /

/construction /

/activity /

/but /

/are /

/NOT /

/easily /

/identifiable /

/for //a //specific //project //are //considered... //- //correct //answer(s) // ✔✔ //Project //overhead

A /

/reason /

/for /

/using //

a /

/lower /

/than /

/usual /

/profit /

/markup /

/for //

a //specific //project //could //be //to... //- //correct //answer(s) // ✔✔ //cover //company //overhead //costs

Time //card //records //MUST //be //kept //a //MINIMUM //of... //- //correct //answer(s) // ✔✔ // 4 //years

A /

/contractor /

/is /

/about /

/to /

/sign /

/an /

/agreement /

/with //

a /

/representative /

/of //

a /

/corporation. /

/The /

/contractor /

/should... //- /

/correct /

/answer(s) // ✔✔ //verify //that //the //representative //has //the //authority //to //bind //the //corporation

Which /

/of /

/the /

/following /

/statements /

/about //

a /

/sole /

/proprietorship /

/is /

Medical //records //of //work-related //injuries //to //long-

term /

/employees /

/MUST /

/be /

/kept /

/for //

a /

/MINIMUM /

/of /

/what /

/duration //after //the //employee //leaves //employment? //- //correct //answer(s) // ✔✔ // 30 //years

All /

/of /

/the /

/following /

/are /

/advantages //of //good //scheduling //EXCEPT... //- //correct //answer(s) // ✔✔ //reduced //training //costs

A /

/contractor /

/should /

/do /

/all /

/of /

/the /

/following /

/when //estimating //a //project //EXCEPT... //- //correct //answer(s) // ✔✔ //assume //ideal //conditions

A /

/bid /

/does //NOT //specify //how //long //it //remains //open //or //in //effect //is //considered //to //be //open //for...

//- //correct //answer(s) // ✔✔ //a //reasonable //amount //of //time

What /

/does //

a /

/comprehensive /

/general //liability //insurance //policy //protect //a //company //against? //- //correct //answer(s) // ✔✔ //an

//accident //at //the //job //site //that //damages //the //neighbor's //house

A /

/contractor /

/plans /

/to /

/use /

/materials /

/or /

/methods /

/other /

/than /

/those /

/standard /

/in /

/the /

/industry. /

/The //contractor //should... //- //correct //answer(s) // ✔✔ //specifically //state //this //in //the //agreement

The /

/two /

/basic /

/laws /

/of /

/construction /

/estimating /

/are... //- /

/correct /

/answer(s) /

/ ✔✔ //both //overestimating //and //underestimating //costs //could //have //disastrous //consequences

An /

/employer /

/who //withholds //more //than //$1,000 //per //month //from //employees //for //state //taxes //MUST //pay

//those //taxes //at //LEAST... //- //correct //answer(s) // ✔✔ //two //times //per //week

The /

/prime /

/contractor /

/is /

/one /

/who... //- //correct //answer(s) // ✔✔ //is //responsible //for //the //overall //construction //of //the //project

What /

/type /

/of /

/material //at //a //construction //site //may //be //considered //hazardous //waste? //- //correct //answer(s)

// ✔✔ //cleaning //supplies

Which /

/of /

/the /

/following /

/is /

/considered //

a //source //document //in //an //accounting //system? //- //correct //answer(s) // ✔✔ //time //cards

What /

/can /

/be /

/used /

/to /

/collect /

/information /

/on /

/labor, /

/materials, /

/equipment, /

/and /

/overhead /

/costs //used //during //the //performance //of //a //job? //- //correct //answer(s) // ✔✔ //a //job //cost //system

What /

/MUST /

/be /

/done /

/with /

/the /

/taxes /

/withheld /

/by /

/an /

/employer //between //the //time //that //they //are //withheld //and //the //time //that //they //are //sent //to

//the /

/IRS? //- /

/correct /

/answer(s) /

/ ✔✔ //the //taxes //must //be //held //in //a //separate //account //and //not //used //for //anything //else

All /

/of /

/the /

/following /

/are /

/considered /

/general /

/overall /

/schedule? //- /

/correct //answer(s) // ✔✔ //The //total //resource //demand //for //a //project //at //any //given //time.