Virginia contractors - Study guides, Class notes & Summaries

VA Contractors: Virginia (Class A or B) Questions With Verified Answers.

VA Contractors: Virginia (Class A or B) – Q’s & A’s (100% Correct)

VA Contractors: Virginia (Class A or B) – Q’s And A’s

What are some of the advantages of a sole proprietor? - ANSWER-Business can be sold at will Freedom in Decision Making Process Sole Ownership of Profits Low startup cost Simple Ownership Form Minimal Legal Restriction What are some of the disadvantages of a Sole Proprietor? - ANSWER-Less Available capital Unlimited Personal Liability Possible difficulty obtaining long term financing dissolution of the business in the event of the owner's death This is the relationship between two...

1. All Class A contractor licensure applications MUST include... ANS Information on the knowledge, skills, and abilities of the applicant 2. Which of the following is a requirement for a joint venture? ANS Either the joint venture or each contracting party of the joint venture must be licensed 3. All of the following must be licensed EXCEPT... ANS A material supplier who advises a contractor 4. Payments made by the Transaction Recovery Fund to claimants may include an amount for... ANS At...

NASCLA Contractors Guide Virginia Question and answers correctly solved 2024 Why is managing risk important? - correct answer important to your reputation and bottom line -Lower business and liability insurance premiums -Reduce chances of being sued -Improve chances of prevailing in a lawsuit What should supplement your risk management program? - correct answer Insurance. It provides protection against unforeseen events and is sometimes required by law What does property insurance...

VA Contractors Virginia (Class A or B) Exam Questions and Answers

NASCLA Contractors Guide Virginia | 8th Ed Chapters 3 – Exam and Solutions What is the major Purpose of Licensing? - Answer -A major purpose of licensing is to protect the Health, safety, and welfare of the public. -Licensing also defines the scope of occupational practice legally reserved for license holders. What does Licensing establish? - Answer -Licensing establishes entrance requirements, standards of practice, and disciplinary authority to protect the public from unqualified, inco...

What are some of the advantages of a sole proprietor? correct answers Business can be sold at will Freedom in Decision Making Process Sole Ownership of Profits Low startup cost Simple Ownership Form Minimal Legal Restriction What are some of the disadvantages of a Sole Proprietor? correct answers Less Available capital Unlimited Personal Liability Possible difficulty obtaining long term financing dissolution of the business in the event of the owner's death This is the relationsh...

VA CONTRACTORS: VIRGINIA (CLASS A OR B)