practice test youtube

When an owner agrees to pay contractors for all costs on a project plus an agreed-upon markup for overhead and profit, the contractor will submit a…….. bid.

A. Cost-plus

B. Fixed-price

C. Unit-price

D. Time and materials

Answer: A

OSHA defines asbestos-containing materials as any material containing more than……asbestos

A. 0.5%

B. 1%

C. 1.5%

D. 2%

Answer:1%

The IRS says that a worker is considered a(an) ______ if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done.

A. Salaried employee

B. Hourly employee

C. Independent contractor

D. Managed contractor

Answer: C independent contractor

A worker gets an unknown chemical in both eyes but quickly heads to a washing station to wash the chemical off. How long should the employee flush his or her eyes with water?

15 minutes minimum

There are three parties involved in construction bond. They are the obligee, the principle, and the surety. which party is considered the principal.

A. The project architect

B. The project owner

C. The bonding company

D. The contractor

Answer: the contractor

Which type of company structure must pay income tax?

A. Sole proprietorship

B. General partnership

C. C Corporation

D. LLC

Answer: Corporation

which of the following is NOT discussed or included in a corporation’s article of incorporation?

A. Defining the corporation’s services

B. A list of corporate officers

C. How much stock will be issued

D. How corporate officers are appointed or elected

Answer: D. How corporate officers are appointed or elected

The OSHA 300 log is used to report serious injuries or deaths that occur on a construction site. Any contractor with ___employees or more must fill out this form annually, and this log must be kept for__ Years?

Answer: 10, 5

Exp. The OSHA 300 log is required for companies with at least 10 employees and this log must be kept on file for at least five years

A contractor’s bid that does not confirm to the projects plans and specifications is considered a(n) ___ bid.

Answer: Unresponsive

Exp. A bid that does not conform with the project’s plans and specifications. Is called an unresponsive bid. Examples would be bids that leave out scope items shown on the plans or bids turned in after the bid deadline

When a construction loan is used to finance a project, who must typically provide approvals for progress payments to the contractor?

Answer: The owner and lender