NV General Contractor Practice Questions - Nevada General Contractor Exam

In Nevada, what is the contractor's obligation when a project exceeds their license monetary limit?

The contractor cannot take the project and must either decline or apply for a monetary limit increase The contractor can proceed but must notify the NSCB The contractor can exceed the limit by 10% without consequences Monetary limits only apply to public projects

Correct Answer:

The contractor cannot take the project and must either decline or apply for a monetary limit increase

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