Utah Contractor School Online® - The Premiere Contractor School To Help You Pass Your State License Exam!

Utah Contractor School Online®
The premiere contractor school to assist you in passing your state contractor license exam.

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Obtaining a Trade License
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State Example Questions

Business and Law

NOTE: All questions are written and reviewed by licensed contractors who are actively working in the field.

The following questions are typical of the kind of items that are on the examination.

UTAH STATE

SAMPLE BUSINESS AND LAW QUESTIONS

1. Given: A contracting business has a balance sheet on December 31 which indicates

Current Assets of $100,000

Current Liabilities of $75,000

Fixed Assets of $250,000

Long Term Liabilities of $150,000

The contracting business has “Net Working Capital” on December 31 of

A. $ 25,000

B. $100,000

C. $125,000

D. $350,000

2. During construction, the systematic recording of all labor, material, and other direct costs used on a construction project is called

A. Selling expenses.

B. Deferred debits.

C. Cost accounting.

D. Performance standards.

3. The type of insurance coverage used to insure the owner or contractor against loss which is the result of a storm is

A. General liability.

B. Property and operation.

C. Catastrophic occurrence.

D. Builder's risk.

Answers to Sample Questions

1. A 2. C 3. D