Florida General Contractor Florida Contractor Business Management 3

Question 1

Under Florida's Construction Lien Law, within how many days must a subcontractor serve a Notice to Owner after first furnishing labor or materials?

Accepted Answer

45 days

Answer

A Notice to Owner must be served within 45 days of first furnishing labor or materials to preserve lien rights.

Question 2

A qualifying agent for a Florida contracting business is primarily responsible for what?

Accepted Answer

Supervising the company's construction operations

Answer

The qualifying agent supervises the construction activities conducted under the company's license.

Question 3

In job costing, direct labor plus direct materials plus direct job overhead equals what?

Accepted Answer

Total job cost

Answer

Total job cost is the sum of direct labor, direct materials, and job overhead.

Question 4

How many days does an employer generally have to report a new hire to the Florida New Hire Reporting Center?

Accepted Answer

20 days

Answer

Florida employers must report newly hired employees within 20 days of the hire date.

Question 5

What does FICA tax fund?

Accepted Answer

Social Security and Medicare

Answer

FICA funds Social Security and Medicare through combined employer and employee contributions.

Florida General Contractor Practice Test