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Florida General Contractor Exam Study Guide: Questions and Answers, Exams of Contract Law

This document serves as a study guide for the florida general contractor's exam, focusing on key concepts and definitions relevant to the construction industry. It covers a range of topics, including contractor licensing, contract types, payment schedules, and legal agreements. The guide provides concise questions and answers to aid in exam preparation, covering essential terminology and practices in construction management. It also includes information on industry-standard organizations like aia and agc, offering a comprehensive overview of the field. This study guide is designed to help aspiring contractors understand the legal and practical aspects of construction projects, ensuring they are well-prepared for their professional endeavors.

Typology: Exams

2024/2025

Available from 05/17/2025

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Florida General Contractor's study guide
QUESTIONS WITH ANSWERS
Contractor's - CORRECT ANSWERS ✔✔is someone who demolishes
subtracts from boots for improved any building or structure or
compensation. Compensation or cash goods services etc. essentially if you
pay someone to construct A building or a structure makes structural
alterations to load bearing walls or perform services such as plumbing or air
conditioning work that person Hass to have a state contractors license.
General contractor license - CORRECT ANSWERS ✔✔allows building
construction that is unlimited as to the type and size of the construction
project.
Building contractor licensing - CORRECT ANSWERS ✔✔whose services
are limited to the construction of commercial buildings and single-dwelling
or multiple-dwelling residential buildings. These buildings cannot exceed
three stories in height.
Residential contractor licensing - CORRECT ANSWERS ✔✔whose
services are limited to construction, remodeling, repair, or improvement of
one-family, two-family, or three-family residences which are not more than
two stories.
Draw Schedule - CORRECT ANSWERS ✔✔is a financial tool used by
contractors in identifying percentage of completion points in the project for
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Florida General Contractor's study guide

QUESTIONS WITH ANSWERS

Contractor's - CORRECT ANSWERS ✔✔ is someone who demolishes subtracts from boots for improved any building or structure or compensation. Compensation or cash goods services etc. essentially if you pay someone to construct A building or a structure makes structural alterations to load bearing walls or perform services such as plumbing or air conditioning work that person Hass to have a state contractors license. General contractor license - CORRECT ANSWERS ✔✔ allows building construction that is unlimited as to the type and size of the construction project. Building contractor licensing - CORRECT ANSWERS ✔✔ whose services are limited to the construction of commercial buildings and single-dwelling or multiple-dwelling residential buildings. These buildings cannot exceed three stories in height. Residential contractor licensing - CORRECT ANSWERS ✔✔ whose services are limited to construction, remodeling, repair, or improvement of one-family, two-family, or three-family residences which are not more than two stories. Draw Schedule - CORRECT ANSWERS ✔✔ is a financial tool used by contractors in identifying percentage of completion points in the project for

the bank to advance proceeds to the contractor. It outlines the sum of all projects. Schedule of Values - CORRECT ANSWERS ✔✔ is a start-to-finish list of work items on a project (broken down into their component parts and with corresponding values) that, in total, represent the entire project from beginning to end and the entire contract price. payment schedule - CORRECT ANSWERS ✔✔ is a list of dates setting out when payments will be made by one party to another under the terms of the contract between them. front-loading - CORRECT ANSWERS ✔✔ Practice in which the bulk of fees on, or payments from, a service or job are charged up-front or during the beginning phase, whether or not earned. Disbursing the funds - CORRECT ANSWERS ✔✔ Most common approach for banks or clients to make payments contingent to confirm that the job progress is being made. Substantial completion - CORRECT ANSWERS ✔✔ Stage or designated portion of a construction project that is sufficiently complete in accordance with a contract for the owner to occupy and/or utilize it for its intended use, without undue interference. Title Companies - CORRECT ANSWERS ✔✔ A business that determines that a property title is clear and that provides title insurance.

Indemnification - CORRECT ANSWERS ✔✔ compensation for harm or loss. lump sum contract - CORRECT ANSWERS ✔✔ A contract with a fixed total price for a well-defined product or service; also called a fixed-price contract cost-plus contract - CORRECT ANSWERS ✔✔ A contract in which the contractor is reimbursed for specified incurred costs, with an additional allowance provided for overhead and profit. Unit Price Contract - CORRECT ANSWERS ✔✔ A contract in which payment is based on a contractor's quoted price per unit of work performed and the owner's measurement of the total number of such units installed. Guaranteed Maximum Price Contract - CORRECT ANSWERS ✔✔