Contractor's Law & Business Exam Questions And Correct Detailed Answers

If an owner cancels a home solicitation contract on March 20, by what date must the contractor return the down payment? {Ans: The contractor must return the down payment of a canceled contract within 10 days.}How often are FICA taxes reported and paid? {Ans: Quarterly}If a building permit is required, when does the law permit a building inspector to enter and inspect a residence? {Ans: The law permits an inspector to enter and inspect a residence between 8 am and 6 pm unless the owner has given permission to inspect at some other time.}Before you build on a landfill you must notify: {Ans: The government and the engineers.}When preparing a bid you should: A. Evaluate the effect of unexpected delays on costs B. Put as little in writing as possible C. Schedule the job to slightly overload your capacity D. None of the above {Ans: Evaluate the effect of unexpected delays on costs.}Of the following, which document is usually delivered first in a transaction involving a home improvement contract? A. Three-day notice of right to cancel B. The contract C. "Notice to Owner" D. 20-Day preliminary notice {Ans: The "Notice to Owner" At the