Nascla Contractor Exam Study Guide Question And Answers 100% Correct 2023/2024

contractor {Ans: Who is responsible for making up any shortfalls if the estimates are too low?}$10,000 contractors bond {Ans: must be filed with the Arkansas Contractors Licensing Board as one of the conditions to obtain a commercial license}5,000 {Ans: what is the base penalty for a willful osha vilolation?}Show the financial condition of the business on a specific date {Ans: the function of the balance sheet is to.....?}proof of workmans comp, financial statement must be provided to the residential contractors committee {Ans: When applying for unlimited license you must have....}15 {Ans: The rules and regulations of the American with disabilities act (ADA) apply to all employers with a minimum of how many employees?}Construction loan {Ans: Which of the following is a project overhead cost?}bid bond {Ans: guarantees that the contractor, if awarded the job, will do work at the submitted bid prices, enter into a contract with the owner, and furnish the required performance and payment bonds}completion bond {Ans: provides assurance to the financial backers of a construction project that it will be completed on time}Bonds {Ans: Which of the following is NOT a company overhead cost?}Contractor {Ans: The