MI BUILDERS LICENSE - INSURANCE, BONDS, LIENS EXAM WITH CORRECT ANSWERS!!, Exams of Advanced Education

Download MI BUILDERS LICENSE - INSURANCE, BONDS, LIENS EXAM WITH CORRECT ANSWERS!! and more Exams Advanced Education in PDF only on Docsity!

MI BUILDERS LICENSE - INSURANCE, BONDS, LIENS EXAM WITH CORRECT ANSWERS!! Which document designates an official start of a construction prioject? - ANSWER Notice of commencement Which document provides proof that a contractor/supplier provided labor/materials to a project? - ANSWER Notice of furnishing Which type of document verifies that a notice of furnishing has been delivered and helps to establish lien rights? - ANSWER Proof of service of notice of furnishing Contractors/suppliers are required to submit a notice of furnishing within of providing goods/services? - ANSWER 20 days Laborers are required to submit a notice of furnishing within after wages are due. - ANSWER 30 days Which document provides a list of individuals who provided labor/materials to a project that are owed money? - ANSWER Sworn statement Which document ensures that the correct people get paid? - ANSWER Sworn statement Which type of document indicates a full payment was received and there is no claim of lien? - ANSWER Full unconditional waiver Which type of document indicates that there will be no claim of lien as soon as full payment/some other condition has been met? - ANSWER Full conditional waiver