1. A construction project may not require an inspection at the discretion of the inspecting authority if its cost is less than what MAXIMUM amount?
A. $2,500.00 Correct
B. $3,000.00
C. $3,500.00
D. $4,000.00
Explanation
Virginia regulations allow local building officials to waive inspections for minor work valued at $2,500 or less. Projects exceeding $2,500 generally require permits and inspections unless specifically exempted.
2. Which option is NOT a requirement for the designated employee of a corporation?
A. Must be 18 years of age.
B. Must be a full time employee.
C. Must complete the required examination.
D. Must have a controlling financial interest. Correct
Explanation
The designated employee (or responsible management) must be at least 18, work full-time for the licensee, and pass the required exam. There is no requirement that the designated employee personally hold a controlling financial interest in the company.
3. Modifications to a contract effecting cost materials, work scope, or estimated completion date shall
A. be finalized at completion of the project.
B. be in writing and signed by all parties. Correct
C. cause a new contract to be written.
D. be verbally agreed to by all parties.
Explanation
Virginia DPOR regulations require that any change affecting price, materials, scope, or completion date must be in writing and signed by all parties before the work is performed.
4. The Contractor Transaction Recovery Fund was created to provide a remedy to damaged
A. contractors.
B. homeowners. Correct
C. commercial owners.
D. subcontractors.
Explanation
The Virginia Contractor Transaction Recovery Fund exists to compensate homeowners (residential owners) who suffer financial loss due to improper or dishonest conduct by licensed contractors.
5. The designated employee MUST work a MINIMUM of how many hours per week for the licensed contracting business?
A. 24
B. 30 Correct
C. 36
D. 40
Explanation
The designated employee or member of responsible management must devote full time (defined as at least 30 hours per week) to the contracting business.