CSLB B-2 Practice Questions - California Contractors State License Board B-2 Residential Remodeling Contractor Examination Exam

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Under California Business and Professions Code Section 7159, what is the maximum down payment a contractor may legally solicit or receive for a Home Improvement Contract (HIC)?

$$1,000 or 10% of the contract price, whichever is less $$1,000 or 10% of the contract price, whichever is greater 20% of the total contract price regardless of total contract value $$2,500 flat fee prior to starting any physical job site work

Correct Answer:

$$1,000 or 10% of the contract price, whichever is less

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