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Practice Questions for the Florida Contractors Manual (answers available)
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Practice Questions for the Florida Contractors Manual (answers available)
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Practice Questions for the FloridaContractors Manual (answers available)
A |properly |registered |fictitious |name |is |valid |for |________________
A. |1 |year
B. |2 |years
C. |3 |years
D. |5 |years |- |ANSWERS✔✔ |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 |- |ANSWERS✔✔ |D. |U.S |Army |Corps |of |Engineers
1-16
The |name |of |the |form |which |is |used |to |apply |for |sales |tax |is?
A. |W2
B. |DR-1 |
C. |S1
D. |W4 |- |ANSWERS✔✔ |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. |- |ANSWERS✔✔ |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
Three |partners, |Noah, |Evan |& |Steven |form |a |partnership. |Noah |invests |$30,000; |Steven |
invests |$20,000 |and |Evan |invests |$15,000. |In |addition, |Noah |performs |specific |management |
functions |for |which |he |is |paid |$5,000 |from |the |partnership |proceeds. |If |the |partnership |earns |
$244,000, |how |much |will |Noah |receive? |
A. |Less |than |$70,000
B. |Between |$70,000 |-$90,000
C. |Between |$90,000-$110,000
D. |More |than |$110,000 |- |ANSWERS✔✔ |D. |More |than |$110,000
1-12
If |the |above |partnership |were |dissolved, |showing |a |net |loss |of |$60,000, |how |much |would |
Noah |owe?
A. |$60,000 |
B. |$4,666
,C. |$20,000
D. |$0.00 |- |ANSWERS✔✔ |A. |$60,000 |
1-13
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 |- |ANSWERS✔✔ |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 |- |ANSWERS✔✔ |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 |- |
ANSWERS✔✔ |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 |- |ANSWERS✔✔ |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.
C. |sharing |of |ideas |and |management |responsibility.
D. |Easier |to |create. |- |ANSWERS✔✔ |A. |Continuity |of |existence. |
1-11
Unlicensed |practice |of |a |profession |is |punishable |by |an |administrative |penalty |not |to |exceed |
_______.
A. |$500
B. |$1,000
C. |$5,000 |
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