Exam75

Welcome to Your Florida Business & Finance Free Practice Test

Ready to boost your confidence for the business portion of your contractor's exam? You're about to experience a focused practice session designed by successful Florida contractors who've been exactly where you are now.

Exam Details

Time Limit
30 minutes

Questions
10 randomly selected

Question Bank
40 unique questions

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Use your time wisely - Just 3 minutes per question

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Cost per attempt: Unlimited free attempts for ad-supported exams, but with a restricted set of 40 questions available. Our full exam offers many more with no ads.

Format: Open book, just like the real exam

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What Makes This Practice Test Valuable:

Questions crafted by licensed Florida professionals

Current Florida business regulations

Real scenarios you'll encounter on exam day

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1 / 10

What can a contractor determine at the break-even point?

A) various yields for different types of jobs

B) the kind of work that is needed to reach a volume goal

C) growth potential

D) the least amount of sales needed to break even, assuming costs and expenses remain reasonably constant

2 / 10

Which of the following documents is not required to be at the site for the owner?

A) Product Data

B) Change Orders

C) Specs

D) Contract Documents

3 / 10

Which is not used when calculating goods sold to average inventory ratio?

A) labor

B) materials purchased

C) all other direct costs

D) total monthly averages

4 / 10

According to Florida Construction Lien Laws, which of the following is considered an improper payment by an owner to a contractor?

A) a payment made before notice of commencement expires

B) before any notice to owner is received

C) after a notice to owner has been served and a waiver of release has been obtained by the owner

D) payments made by owner after a notice to owner has been served and before a waiver has been obtained by the owner

5 / 10

ABC construction has current assets of $250,000, total assets of $300,000, total liabilities of $65,000 and short-term liabilities of $50,000. What is the value of its long term (other) assets?

A) $50,000

B) $100,000

C) $150,000

D) $200,000

6 / 10

Given the following income statement:

Total Sales $750,000
Direct Costs $500,000
Gross Profit $250,000
Variable Expenses $ 50,000
Fixed Expenses $ 75,000

What would be the projected level of sales at which the company would neither make money nor lose money?

A) $275,555

B) $281,500

C) $295,453

D) $290,555

7 / 10

Which of the following is not a true statement?

A) Builders risk reporting forms rely on monthly reports values

B) Completed value and reporting form are two types of builders risk policies

C) Fire, windstorm, lightning and hail are “types” of losses and are also called “perils”

D) A broad form insurance policy would cover theft

8 / 10

How long does a claim of lien last?

A) 1 year

B) 3 years

C) 5 years

D) 7 years

9 / 10

A laborer begins employment with your company in September of 1990. He quits in July of 1991. The I-9 form must be retained as a record until which of the following dates?

A) September 1991

B) September 1992

C) September 1993

D) September 1994

10 / 10

ABC Rope, Inc. sold a rope with a 4,000-pound capacity to AAA Construction. The rope factor was 4:1. The maximum safe load AAA Construction may lift with the rope is?

A) 2 tons

B) 16 tons

C) 2,000 pounds

D) 1,000 pounds

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The average score is 62%

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Welcome to Your Florida Business & Finance Free Practice Test

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