National Association of State Contractors Licensing Agencies (NASCLA) Tests Bundle Set

3 elements of a business plan CORRECT ANSWER -cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan advantages of sole proprietorship CORRECT ANSWER -minimal legal restrictions -simple ownership form -low start up costs ...

What is the major Purpose of Licensing? CORRECT ANSWER A major purpose of licensing is to protect the Health, safety, and welfare of the public. -Licensing also defines the scope of occupational practice legally reserved for license holders. What does Licensing establish? CORRECT ANSWER Licensi...

NASCLA Exam questions with correct answers

FOB freight prepaid requires __________ to pay for shipping charges CORRECT ANSWER Seller 14-12 Which of the following is not a member of the supervisory team? CORRECT ANSWER Project manager 9-7 __________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a si...

2 CORRECT ANSWER How many members of the board are consumers? right to work CORRECT ANSWER what laws secure the right of employees to decide if they wish to support or join a union? Consideration CORRECT ANSWER __________ is anything of value Social Security Card CORRECT ANSWER which of the...

The standard industry mark-up is? CORRECT ANSWER 15% - Bus Law & Proj Mgmt pg 7-7 Which of the following is important to consider in order to avoid inaccuracies when making an accurate project estimate? A) Units of measure B) Time involved C) Overhead Costs D) Productivity time CORRECT ANSWE...

When do you need a permit for a retaining wall CORRECT ANSWER When it is over 4 feet tall The building official may revoke a permit if CORRECT ANSWER it is issued in error or in violation of an ordinance Who can issue a notice of violation CORRECT ANSWER Building Department Shear Wall resis...

Elements of a Business Plan CORRECT ANSWER Cover Page, Executive Summary, Company Summary, Products & Services, Market Analysis, Marketing Strategy, and Financial Plan Sole Proprietorships CORRECT ANSWER Adv: Min legal restrictions, simple ownership form, low startup costs, sole ownership of prof...

sole proprietor CORRECT ANSWER A form of business ownership is least regulated partnership CORRECT ANSWER Under which form of business organization are all investors fully liable for all debts of the business. S corporation CORRECT ANSWER owner who is looking for maximum protection from person...

Yes CORRECT ANSWER Does home improvement include work done on an individual condominium unit? Yes CORRECT ANSWER Does home improvement include work done on a swimming pool? Yes CORRECT ANSWER Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subco...

How long does a claimant have to bring a claim against the guaranty fund? CORRECT ANSWER 3 years from discovery of the loss or damage How many days does a contractor have to respond in writing to the copy of claim that was sent by the commission? CORRECT ANSWER 10 days If within ________ after...

Sole Proprietorship CORRECT ANSWER a business owned and managed by a single individual Simplest form to set up unlimited Liability Partnerships CORRECT ANSWER Business organizations in which two or more persons share responsibilities, costs, profits, and losses. C Corporations CORRECT ANSWER...

Yes CORRECT ANSWER Does home improvement include work done on an individual condominium unit? Yes CORRECT ANSWER Does home improvement include work done on a swimming pool? Yes CORRECT ANSWER Does a home improvement contract HAVE to be in writing in order to preserve your lien rights? Subco...

A Home Improvement Contractor is a person who offers to... CORRECT ANSWER perform repairs for a homeowner. What is the MAXIMUM deposit permitted for a project with a total contract price of $1,500? CORRECT ANSWER $500 What is the MAXIMUM amount that a home improvement contactor may pay to a ho...