MHIC NASCLA Contractors Exam Questions with Correct Verified Answers, Exams of Advanced Education

Download MHIC NASCLA Contractors Exam Questions with Correct Verified Answers and more Exams Advanced Education in PDF only on Docsity! MHIC NASCLA Contractors Exam Questions with Correct Verified Answers 1.How long does a claimant have to bring a claim against the guaranty fund?: Answer- 3 years from discovery of the loss or damage 2.How many days does a contractor have to respond in writing to the copy of claim that was sent by the commission?: Answer- 10 days 3.If within after the commission gives notice , a contractor on whose amount a claim was paid does not reimburse the fund in full, the commission may sue the contractor for reimbursement.: Answer- 60 days 4.In addtion to full reimbursement of the fund, a contractor is responsible to pay at least interest on the amount to reimburse.: Answer- 10 % 5.The state can record a lien against any real property owners by the contrac- tor for a debt owed to the fund: Answer- True 6.If the commission pays a claim from the fund base on the actions or omis- sions of a contractor, the commission may suspend the contractors license until full reimbursement of the fund plus at least 10%interest: Answer- True 7.A home improvement contract in compliance with the home improvement laws would include all of the following except: Names and license numbers of subcontractors 8. A salesperson may not represent 2 contractors at the same time for