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100 Practice Questions for the Florida
Contractors Manual| Already Graded and
Passed| 2025- 2026
A properly registered fictitious name is valid for ________________ A. 1 year B. 2 years C. 3 years D. 5 years D. 5 years 1 - 15 Which of the following would have jurisdiction over dredging or excavation of navigable waters and wetlands? A. U.S. Dept. of the Interior B. Florida Dept. of State C. Florida Dept.of Transportation D. U.S Army Corps of Engineers D. U.S Army Corps of Engineers 1 - 16
The name of the form which is used to apply for sales tax is? A. W B. DR- 1 C. S D. W B. DR- 1 1 - 21 Which of the following is NOT true about a fictitious name registration? A. Valid for 5 years. B. The fictitious name must be advertised at least one time. C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration within 45 days of filing, D. Fictitious name registration must be renewed between July 1 and December 31 in the expiration year. C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration within 45 days of filing, 1 - 15
According to the Contractor's Manual, starting capital should be enough to cover living expenses for between which of the following? A. 3 months to a year B. 6 months to a year C. 9 months to a year D. at least a year A. 3 months to a year 1 - 17 A Partnership will be dissolved if which of the following applies? A. UnlawfuI Activity B. Failing to have a primary qualifying agent C. A court decree under the partnership act D. A and C 1- 29 D. A and C 1- 29 1 - 29 Which of the following is NOT characteristic about a General and Limited Partnership?
A. The limited partnership has two types of partners; a partnership only one. B. The general partners of a limited partnership have limited personal liability; the partners of a partnership do not. C. In a limited partnership the limited partners have no management responsibility. D. The general partner has joint and several liability; the limited partner does not C. In a limited partnership the limited partners have no management responsibility. 1 - 12 Which of the following is NOT true about a sole proprietor, a/k/a DBA, operating a business in his own name? A. A business fictitious name filing is necessary. B. A business Tax Identification Number filing is necessary. C. Neither A nor B D. Both A and B D. Both A and B 1 - 11 Which of the following is an advantage of owning a corporation? A. Continuity of existence. B. Lack of centralized control.
b. He is qualified to act for the corporation in all matters connected with its construction business
If a contractor is disciplined by the board and is the qualifying agent for a business organization and the violation was performed in connection with a construction project undertaken by that business organization, the board may impose an additional administrative fine not to exceed___________ against the business organization or against any partner, officer, director, trustee, or member if such person participated in the violation or knew or should have known of the violation and failed to take corrective action. a. $ b. $1, c. $2, d. $5, d. $5,
Failure of a licensee to renew before a license expires shall cause the license to become _________.
a. delinquent b. inactive c. void d. inactive until payment of a late fee and completion an additional 4 hours of continuing education a. delinquent 455.271(5) The $5.00 fee imposed upon initial licensure and subsequent renewals is used ____________________. a. to cover administrative costs b. to offset inflation and increased salaries c. to combat unlicensed activity d. as a fee to help fund investigative background checks c. to combat unlicensed activity
An active certified residential contractor is eligible to take the general contactors' examination if he possesses a minimum of years of proven experience in the classification in which he is certified.
a. 1 b. 2 c. 3 d. 4 a. 1 489.111(2)(c)5.c Your contractor's license number must appear in or on all the following advertisements except________. a. free yellow Page listings b. coupons c. business proposals d. business cards a. free yellow Page listings 489.119 (5)(a)(b)(c) According to the Florida Statues, Chapter 489, a contractor was found guilty of allowing their certificate to be used by uncertified persons with intent to evade the provisions of Chapter 489.The Construction Industry Licensing Board may revoke the certificate of the contractor, require financial restitution to a consumer, and
impose an administrative maximum fine of _____________. a. $5, b. $5,000 or assess costs associated with investigation and prosecution c. $10, d. $10,000 or assess costs associated with investigation and prosecution d. $10,000 or assess costs associated with investigation and prosecution 489.129(1) What is the maximum damages in which as consumer (non-employee) is entitled due to the negligence of a non-licensed contractor: a. 2 times damages b. 2 times damages + legal fees c. 3 times damages d. 3 times damages + legal fees b. 2 times damages + legal fees 2 - 14 A Contractor wants to borrow 50,000 for 1 year and the Bank will provide the funding as a Discounted Loan at 2%. What is the amount the Contract receives at loan closing? 12.
c. 7 years d. They do not need to be kept a. 4 years 2012 - Circular E-Page 4 Which of the following is the type of contract which provides payments to the contractor on the basis of direct labor hours at fixed hourly rates and which may include the cost of materials or other specified costs? A. Unit price B. Cost plus C. Time and material D. Fixed price C. Time and material Pg. 3- 79 According to the Contractor's Manual in the completed contracts method of accounting, a contract should be considered complete, if it has reached what percentage or more? A. 100% B. 98%
C. 97%
D. 95%
B. 98%
Pg. 3- 80 According to the Circular E, which of the following is the form used to claim credit for over payments? A. 940 B. 941 C. 944 D. B or C D. B or C Circular E, Pg. 26 What is the filing deadline for a payroll tax return for the 2nd quarter for an employer who has deposited all taxes on time? A. July 1st B. July 31st C. August 1st D. August 10th
What is the "look back" period for determining the deposit schedule for taxes? A Last 1 quarter B. Last 2 quarters C. Last 3 quarters D. Last 4 quarters Which of the following insurance policies would protect a company against employee embezzlement? a. Blanket crime policy b. Fidelity bond c. Comprehensive theft d. Comprehensive liability b. Fidelity bond 4 - 8 What type of extended insurance can be purchased with the Builder's risk? A Materials in transit or at temporary storage facility B Subcontractors on a job site
C Materials while in transit D Employees of subcontractor A Materials in transit or at temporary storage facility 4 - 7 A normally purchased Builder's Risk policy covers all but which of the following? A. Materials B. Fire and Storm C. Deeds and notes D. Tools and materials B. Fire and Storm 4 - 13 A Contractor has been paid $71,837.00 on a $1,400,325.00 contract total cost. Assuming a 10% retainage, what is the percentage of completion of this project? A. 0.57% B. 5.7% C. 0.51% D. 5.1%
D. Audited
Under a performance bond on a subcontract, any suit must be instituted within
- 4 -
- A. $2,000, What is the maximum bond amount for a SBA guaranty program?
- B. $1,500,
- C. $1,250,
- D. $1,000,
- A. $2,000,
- 4 -
- A. _____ year(s) of the date of substantial completion.
- B.
- C.
- D.
- B.
- 4 -
You have purchased $120,000 worth of builder's risk (property) insurance on a building worth $200,000 with an 80% co-insurance clause. A fire loss causes $20,000. Disregarding any deductible, what amount will the insurance company pay? A. $20, B. $15, C. $12, D. $19, B. $15, 4 - 16 $15,000 - Percentage Insured= $120,000/200,000 = 60.00% Payment - 60/80 x $20,000 = $15,000. Your company is assessing its bonding capacity. You have $100,000 Cash in the bank, $32,000 in Accounts Receivable and $450,000 in Accrued Earned Income Receivable. Your bookkeeper states you also have $450,000 in Current Liabilities. What would be your likely maximum bond limit? A $1,000,
