Florida General Contractor Flashcards
7 cards from real Florida General Contractor practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Florida General Contractor flashcards as text
In estimating, what does the term 'overhead' typically refer to?
Answer: Indirect costs of running the business not tied to a single job
Overhead covers indirect business expenses—office rent, insurance, administrative salaries—that are not charged to one specific project.
A contractor bids a job with $80,000 in direct costs and adds 15% overhead and 10% profit on the direct cost. What is the approximate total bid?
Answer: $100,000
15% ($12,000) plus 10% ($8,000) added to $80,000 equals $100,000.
In construction accounting, what does 'retainage' mean?
Answer: A percentage of each progress payment withheld until the project is complete
Retainage is money withheld from progress payments—often 5–10%—to ensure the contractor completes the work satisfactorily.
The critical path in a construction schedule represents what?
Answer: The longest sequence of dependent activities that determines the project's minimum duration
The critical path is the chain of dependent activities with zero float that sets the shortest time in which the project can finish.
How many square feet are in one square of roofing?
Answer: 100 square feet
In roofing, one 'square' equals 100 square feet of roof area.
How many cubic yards of concrete are needed for a slab 30 ft long, 20 ft wide, and 4 inches thick (rounded)?
Answer: Approximately 7.4 cubic yards
30 x 20 x 0.333 ft = 200 cubic feet; divided by 27 equals about 7.4 cubic yards.
In a lump-sum (fixed-price) contract, who typically bears the risk of cost overruns?
Answer: The contractor
Under a fixed-price contract the contractor assumes the risk that actual costs may exceed the agreed price.