NJ General Contractor Practice Questions - New Jersey General Contractor Exam

What is the compliance bond requirement for home improvement contractors under the NJ HICB Licensing Act?

A compliance bond or irrevocable letter of credit is required No bond is required for home improvement contractors A performance bond of $500,000 is required Only a cash deposit with the state is accepted

Correct Answer:

A compliance bond or irrevocable letter of credit is required

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