Exam135

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Exam Details

Time Limit
33 minutes

Questions
11 randomly selected

Question Bank
Over 50 unique questions

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Format: Open book, just like the real exam

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1 / 11

Which action could result in disciplinary action against a license holder?

A) Using subcontractors

B) Charging a deposit

C) Failing to obtain required permits

D) Paying taxes early

2 / 11

If actual job costs exceed estimated costs, the result is:

A) Increased profit

B) Negative profit variance

C) Positive cash flow

D) Higher equity

3 / 11

Why is it important to match receivables and payables in construction cash flow?

A) To avoid paying taxes

B) To reduce labor costs

C) To ensure cash inflow covers obligations

D) To minimize insurance premiums

4 / 11

Float in a schedule refers to:

A) Total project duration

B) Slack time available before a task delays the project

C) Material shipping time

D) Waterline installation

5 / 11

A subcontractor agreement should always include:

A) Federal income tax rates

B) Licensing requirements of unrelated trades

C) Scope of work, schedule, and payment terms

D) List of competitor bids

6 / 11

Which of the following is the best reason to walk a jobsite before bidding?

A) To meet with competitors

B) To check for security cameras

C) To identify hidden site conditions or constraints

D) To verify phone reception

7 / 11

Which of the following does not appear on an income statement?

A) Revenue

B) Expenses

C) Retained earnings

D) Net income

8 / 11

Which of the following is true about subcontractor default insurance?

A) It is a type of performance bond

B) It protects the subcontractor from penalties

C) It provides the GC with coverage if a sub fails to perform

D) It eliminates the need for written contracts

9 / 11

Which payroll tax funds Medicare benefits?

A) FUTA

B) FICA

C) SUTA

D) Form 1040

10 / 11

What does a company’s personnel policy manual typically include?

A) Financial reports

B) Payroll tax rates

C) Rules for employee conduct and benefits

D) Sales goals

11 / 11

What is the risk of not requiring written purchase orders?

A) Lower sales tax

B) Supplier discounts

C) Unauthorized or inconsistent purchases

D) Faster delivery

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Ace Your Exam with Our Free Florida Electrical Business Practice Test!

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