Exam (elaborations)
Business and Finance Florida Questions 2024
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Business and Finance Florida
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Business and Finance Floridacontinuing education - answer14 hours every 2 years
secondary qualifying agent is responsible for what - answer supervision of field work
where his license was used and anything else he accepts responsibility for
contractors must keep records for a period of - answer3 years
If the qualifying agent is fired how long until you have to notify the DBPR and obtain
another agent with in - answer60 days
How many hours will be credited to your education if you do pro bono work -
answer25%
penalty for theft of the examination - answerfelony of the 3rd degree
Examination grades, papers, answers should be kept for how long - answer2 years
a person shall be allowed to take a test if Immigrated to the United States for political
reasons can get a license if - answerWas located in the Western Hemisphere and lacks
diplomatic relations with the US
If the subject does not dispute the matter in the citation within ________ days after the
citation is served the citation becomes final order - answer30
Unlicensed activity fee is how much - answer5 dollars
How soon before license expires will the department send you a notice - answerAt least
90 days
In the event of a death of a contractor, how many days before you are required to notify
the board - answer30 days
A contractor who receives more than 10% must do what - answerApply for permits
within 30 days and begin instruction within 90 days
All contractors certified or registered shall maintain complete financial records for a
period of ________ - answer3 years
A project will be considered abandoned after how many days by a contractor -
answer90 days
, Must notify the board of changes in name style, address from that which appears on the
current certificate of registration. How many days?? - answer30 days
A certificate or registrant must inform the board by mail within how many calendar day
of changes in any information stated on the application for qualification of a business
organization - answer45 days
Things owned by a company are called - answerassets
Claims by others are called - answerliabilities
Assets == - answerliabilities + equity
To qualify for expansion financing, some programs and financial institutions require you
be in business minimum of _______ but preferred to have ______ - answer2, 5
Four basic types of contracts - answerfixed, unit price, cost plus, time and material
Completed Contract Method - answercomplete is recognized at 98 or 99 %
Retainage is usually what percent - answer10%
Four basic methods available to contractors - answercash method, accrual basis,
percentage of completion, completed contract method
Front end loading - answerprogress billings are accelerated (more money up front)
Davis Bacon Act - answerexcess of 2,000
Keep all records of employment taxes for _______ years - answer4
Furnish what tax forms by January 31st? - answer1099, W-2, Form 941, Form 944
Social security and medicare tax rate - answer7.65%
Automobile rates are based on - answersize of vehicle, gross weight of vehicle, distance
traveled
What is a bid bond - answerguarantee that the contractor is awarded the bid, he will
enter into a contract at the price stipulated in the bid.
Forfeiture Obligation - answerif you are the low bidder and you DO not enter into the
contract, then you forfeit the bid amount
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