Nevada Contractors License – Law Portion Practice Test

These questions are part of the practice quiz. Start practicing

• How high must the name and license number be displayed on commercial motor vehicles under a contractor's name?
• What could likely invalidate a contractor's bid?
• Does a NSCB license allow work on the repair or construction of mobile homes?
• If the Board orders a licensee to correct a condition, what action may be required?
• What is required for a contractor to maintain their license in Nevada?
• What is the maximum administrative fine for abandonment or failure to complete a construction project?
• What is the renewal fee for a contractor's license per year?
• What is required from contractors before they can work on a project?
• Which document may be considered as a financial statement required for contractors?
• What is the Social Security tax rate on wages?
• What can be a consequence of violating the Nevada Contractors' Board codes?
• What is the primary purpose of a Nevada Contractors License?
• What does NRS 624.300 specifically address?
• What is the maximum number of hours a youth aged 16 or 17 can work in nonhazardous jobs?
• What is a major disadvantage of an oral contract?
• What is the minimum bond requirement for a contractor?
• What is classified as "unlicensed contracting" in Nevada?
• Why is it important for contractors to keep records of communications?
• Can a contractor's license be suspended in Nevada?
• What is the maximum civil penalty for violating child labor law provisions per employee?
• What is the required duration for keeping copies of contracts?
• In what situation might a contractor need to invoke an indemnification clause?
• How long must a contractor keep a copy of their taxes?
• How soon must OSHA report a death incident?
• Which information must be included in a licensee's telephone book advertisement?
• A licensed contractor supervising work for an unlicensed contractor is subject to what consequence?
• What consequence does a contractor face if they allow an unlicensed person to work on a project?
• Which type of accounting shows what has been earned unlike cash basis accounting?
• What does the term "scope of work" define in a contract?
• What is the maximum fine for aiding and abetting an unlicensed person in construction?
• A residential contractor with an unlimited monetary bid limit shall pay a biennium assessment of what amount for the residential recovery fund?
• What is the primary role of the "Owner-Contractor Agreement"?
• What is the Federal Unemployment Tax rate?
• A contractor that does ONLY commercial work and has a monetary bid limit of $350,000 is required to pay what amount into the Residential Recovery Fund?
• Under what circumstances can the Board require a contractor to demonstrate financial responsibility?
• Which of the following accurately describes injuries use for?
• What is the minimum monetary value of work required to file a Mechanics Lien in Nevada?
• What is one of the responsibilities of the state contractors board?
• What describes the nature of a business operated as a sole proprietorship?
• How long do you have to file a lien claim if no notice of completion is filed?
• How is the term "work week" defined in the FLSA?
• What is a fundamental way for a contractor to ensure compliance with safety regulations?
• If a contractor mishandles funds, which of the following could occur?
• Generally, the MBE company must be at least what percentage owned, operated, and directed by the minority or disadvantaged individual?
• Which of the following is typically included in company overhead?
• What is the primary law governing construction contracts in Nevada?
• Which of the following trades requires a general building contractor to have additional specialty licensing?
• Which type of business organization limits the personal liability of owners?
• You have how many days to replace a qualified employee?
• What is the maximum administrative fine the Board can impose for allowing a license to be used by an unlicensed person?
• What happens if a licensee bids or contracts outside the scope of their license?
• What is the significance of the Nevada Foreclosure Mediation Program?
• What does the Davis-Bacon Act primarily require?
• What types of contracts must be in writing according to Nevada law?
• What does a licensee need to provide when applying for a license in addition to the fee?
• What amount is considered a lawful deposit for residential contracting before work must commence within a specified time?
• What is typically required for a construction bid to be valid?
• When a customer files a complaint, how many days does the contractor board have to inform the contractor about the investigation?
• What is the Medicare tax rate on all wages?
• What is a disadvantage of cash basis accounting compared to accrual basis accounting?
• What typically constitutes a contractor's use of a financial statement?
• Who is responsible for obtaining construction permits?
• What is the maximum fine imposed by OSHA for violations?
• What is the biennial renewal fee for a contractor's license?
• What does compliance with local building codes entail?
• How should a company’s income be represented over time?
• What should a contractor's license number be displayed on?
• What key benefit does co-signing provide in contracts?
• How many years must contracts be kept according to NRS 624.3013?
• At what amount of earnings do you stop deducting FUTA from an employee's wages in one year?
• What is the required size for a license number on a vehicle?
• In the context of a contracting company, who qualifies as an "executive officer"?
• How many days before the bid must a one-time single project increase be turned in?
• Regarding residential pool and spa contractors, what is the fine for a second offense of a license law violation?
• If your license was issued on December 1st, what is the latest date you must pay your renewal fees to the board?
• What is the statutory period for filing a mechanic's lien in Nevada?
• Which of the following is NOT a required responsibility of a general contractor?
• What is the maximum fine a contractor can face while working with an inactive license?
• Upon the death of the sole qualified partner, how many days after the death is the license automatically suspended?
• What is the maximum amount a pool contractor can take as a down payment?
• In the case of joint ventures, how many licenses are required from NV contractors?
• What is the "construction manager at risk" delivery method?
• What documents must be included in a licensing application?
• How many days do you have to replace a qualifying employee?
• A quorum shall consist of how many members of the Nevada State Contractors Board?
• How is the definition of a work week calculated?
• For how long are contractors required to keep all contracts and documents available for inspection?
• What could be a consequence of violating NRS 624.300 on more than one occasion?
• What could happen if a contractor does not provide a change order for scope alterations?
• What does the unit price method require determining?
• What is the role of a surety company in a bond?
• When a qualifying employee quits, how many days does the board need to be informed?
• What must a contractor do to import materials from outside Nevada?
• What best describes the role of change orders in construction?
• If a contractor knowingly enters into a contract with an unlicensed contractor, what are the potential disciplinary actions?
• Which entity regulates contractors in Nevada?
• What constitutes a breach of contract in construction?
• What defines the date of completion in a construction project?
• Is it legal for a general building contractor to bid on a drywall job?
• For how many years must records for federal employment tax be maintained?
• In addition to being subject to disciplinary action, what is the consequence for a contractor caught diverting funds of $1,000 or less?
• What does the working business plan forecast?
• What is a potential consequence for a contractor found guilty of fraud?
• What is the purpose of displaying a contractor's name and license number on their vehicle?
• Which entity is responsible for ensuring compliance with Nevada contracting laws?
• How can a contractor best demonstrate financial stability?
• How many days do you have to notify the board of a change of address?
• Contracts that exceed the bid limit are considered:
• What action should a licensee take if they receive a disciplinary order from the Board?
• What is the main difference between C and S corporations?
• What is the primary purpose of a surety bond in contracting?
• How many days does an applicant have to furnish the required surety bond or cash deposit after receiving notice of approval?
• What is one of the main characteristics of accrual accounting?
• What must a contractor do to officially change the scope of a construction project?
• If a contractor abandons a job, within how many days must they refund excess funds to avoid disciplinary action?
• IRS Publication 15 is also known as what?
• What primary document is used to have employees report their wages for tax purposes?
• What minimum hours define a work week?
• What is the maximum bond requirement mentioned for a contractor?
• What is the purpose of contracts in construction?
• How can a contractor avoid disputes over contract terms?
• What does indemnify mean in terms of contracting obligations?
• What should a contractor do to obtain necessary construction permits?
• Which financial statement shows a company's net worth or equity?
• A death must be reported to OSHA within how many hours?
• What action can the board take if a contractor fails to complete a job?
• A contractor receiving an initial down payment or deposit of what amount for work concerning a residential pool or spa must start work within 30 days?
• What is the "right to cure" in Nevada construction law?
• What does a prompt response to a customer's complaint typically help to achieve?
• How is the Workers' Compensation insurance cost handled in terms of employee wages?
• Which law does the EEOC primarily enforce?
• What information does a general building contractor not need to disclose to a customer?
• Within how many days must the state contractors board be notified in writing of any changes to the licensee's address?
• What should always be included in financial documentation for transparency?
• How many chances does an applicant have to take the state exam before the application becomes void?
• How does Nevada law address construction-related fraud?
• How long does it take for asbestos-related diseases to typically present symptoms?
• What is the return on assets ratio if the new income is $57,000 and the total assets are $204,000?
• Which party is equally liable in a general partnership?
• What often leads to disputes in construction projects?
• When contractors bid for projects exceeding their monetary bid limits, what is required?
• What penalty can a contractor face for unlicensed contracting in Nevada?
• How should financial responsibilities be demonstrated to the board?
• What is not required for a contractor when advertising their services?
• A contractor found guilty of diversion of funds exceeding $1,000 could face what additional consequence?
• What is the purpose of the grievance process established by the Nevada State Contractors' Board?
• What can be the impact of failing to respond to customer complaints?
• A licensee who does not complete a project because funds were misused may face which of the following?
• What is the minimum experience requirement for a general contractor's license in Nevada?
• Two licensees each have a monetary bid limit of $50,000 and want to form a joint venture to bid for a job that is $1,000,000. What statement is true regarding this situation?
• What is bonding capacity in a contracting context?
• Which financial statement projects sales and expenses over a specific period of time?
• What is the maximum number of times a one-time single project increase can be submitted in a year?
• Which equation calculates the current ratio?
• In phases of construction, what is the maximum duration for each phase?
• What is the penalty for not making timely contributions to the residential recovery fund?
• How many days do you have to file a lien without notice of completion filed?
• What is the importance of a "hold harmless" clause in a contract?
• Who is responsible for paying Workers' Compensation insurance?
• What is the duration for keeping asbestos records?
• Which document is critical for managing client expectations in construction?
• What is a licensed contractor?
• If a contractor does not meet obligations due to misappropriation of funds, the board's response may lead to which of the following?
• What is the consequence of failing to renew an active license by the deadline?
• What is the primary purpose of a profit and loss schedule?
• What is the benefit of achieving 'substantial completion'?
• What are liquidated damages in a construction contract?
• What is a contractor's lien?
• What is the State Unemployment Tax rate?
• How much does it cost to renew an inactive contractor's license?
• What is the defined timeframe for filing a complaint against a contractor?
• For how long must OSHA records be retained?
• What is a subcontractor in the context of contracting?
• Who reimburses the bond company in a construction contract?
• Which of the following best describes the goal of proper budgeting in contractors' finances?
• Youths aged what can perform any nonhazardous job for limited hours?
• Who is typically held responsible for all contracting-related duties in a construction company?
• What is the primary reason for keeping accurate records in construction contracting?
• What is the simplest form of business organization?
• What can be included in a construction contract to reduce misunderstandings?
• What is a characteristic of a sole proprietorship?
• What is required for a contractor to change the terms of a signed contract?
• What is the minimum number of hours in a work week?
• What is the purpose of a mechanic's lien?
• If a contractor has a monetary bid limit of $500,000, what is the biennium payment into the residential recovery fund?
• What must be disclosed by a contractor when bidding for public contracts?
• What is the maximum fine for the second offense for violation of NRS 624.900 to 624.965?
• What does "negligent hiring" signify in contractor responsibilities?
• What is the Nevada statute governing construction defect actions?
• What does "substantial completion" refer to in construction?
• What is the maximum duration for which current assets can typically be converted into cash?
• How should payments be structured in a construction contract in Nevada?
• What is the minimum potential administrative fine for a second offense of hiring an unlicensed contractor?
• What must a contractor provide to obtain a license in Nevada?
• On what documents must the monetary bid limit appear?
• What must a contractor provide if they terminate a contract?
• When 2 or more licensees wish to jointly submit a bid, what is the first requirement they must fulfill?
• What is the primary function of an indemnification clause in a construction contract?
• What are the main types of licenses issued in Nevada for contractors?
• What is the renewal fee for an active contractor's license in Nevada?
• When must a contractor issue a notice of right to lien?
• What is the recommended action for a contractor upon receiving a customer complaint?
• If a notice of completion is filed at the county recorder's office, how many days do you have to file a lien?
• What is a likely outcome of including an indemnification clause in contracts?
• What does "workman’s compensation insurance" provide to contractors?
• What is the primary function of a balance sheet?
• What is the administrative fine for a first time violation for non-compliance related to the residential recovery fund?
• What is a requirement for all contractor licenses in Nevada?
• Why is it important for a contractor to have proof of adequate cash flow?
• What is the time frame for current assets and current liabilities?
• How many hours constitute overtime for a work week?
• What factor can influence the eligibility for a contractor's license in Nevada?
• What essential information must a bid proposal contain?
• What summarizes profit making activities over a specific period of time?
• Who can file a complaint with the Nevada State Contractors Board?