MHIC EXAM STUDY, 100% Correct, Download to Score A
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Course
MHIC STUDY
Institution
MHIC STUDY
Activity Ratio
A formula that measures how effectively a company manages it's credit. It's
calculated by dividing sales per day into current receivables.
Allowance
A specified amount designated in an estimate for items that are not specified in
the project plans, such as finished materials, ...
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MHIC EXAM STUDY
Activity Ratio
A formula that measures how effectively a company manages it's credit. It's
calculated by dividing sales per day into current receivables.
Allowance
A specified amount designated in an estimate for items that are not specified in
the project plans, such as finished materials, (carpeting, fixtures, lighting, etc.)
How many members are there in the MD Home Improvement Commission?
9
What is the length of term for an individual who serves on the Commission?
4 years
How long does someone need to reside in Maryland in order to be appointed to
the commission?
5 years
Page 1 of 11
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, True or false? Is it illegal for a member of the commission to receive any
compensation from a person regulated by the commission?
True
What parties must sign a Home Improvement contract?
Home Owner and Contractor
Where is the office of the Commission located?
Baltimore City
Who is responsible for the operations of the Commission?
Executive Director
What is the best method to give an estimate?
Quantity Take-Off Method
How many inches must the MHIC license # on vehicle advertising be?
minimum of 3 inches
What is the maximum fine for contracting without a license - first offense?
$1k, 6 months of jail or both
If the commission pays a claim from the guarantee fund base on the actions or
omissions of a contractor, the commission can...?
suspend license
Page 2 of 11
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