Nascla Contractor's Guide, Nascla Contractors Guide Study Guide Questions And Correct Answers

advantages of sole proprietorship {Ans: -minimal legal restrictions -simple ownership form -low start up costs -sole ownership of profits -freedom in decision making process}if a death occurs, how many hours do you have to report that to OSHA {Ans: 8}FMLA allows employees to do what? {Ans: take up to 12 weeks unpaid job-protected leave each year}indemnification clauses must be... {Ans: examined carefully to ensure the proper liability is distributed between the contractor and the owner}advantages of a general partnership {Ans: -ease of formation -direct profit rewards -larger management base than that of a sole proprietorship}what are the 4 required elements of a contract {Ans: offer and acceptance consideration competent parties legal purpose}dates, delivery dates, payment schedules and employee vacations are what type of scheduling? {Ans: calendar}I-9 form requirements {Ans: Within 3 days of hire; kept for 3 years after hire or 1 year after employment ends (whichever is later)}Youth minimum wage {Ans: Minors under 20; $4.25 during the first 90 days; cannot displace any employee to hire someone at youth rate}what is labor burden {Ans: (30% of labor cost) medicare and social security federal unemployment insurance worker's compensation liability insurance