Question 1
A contractor plans to bid a private commercial warehouse job in Mississippi with a contract price of USD 62,000. Which MSBOC license is required?
Correct Answer:
A commercial license, because the commercial work exceeds USD 50,000
Question 2
Which pair of MSBOC dollar thresholds is correct for residential work?
Correct Answer:
New residential construction over USD 50,000 and residential remodeling or roofing over USD 10,000
Question 3
What are the MSBOC application fees for a new commercial license, a new residential license, and each additional classification?
Correct Answer:
USD 400 commercial, USD 50 residential, and USD 100 per additional classification
Question 4
A commercial applicant wants a major classification. What financial showing must accompany the application?
Correct Answer:
A CPA-reviewed financial statement showing at least USD 50,000 net worth
Question 5
What general liability insurance showing does MSBOC require on a commercial application?
Correct Answer:
At least USD 300,000 per occurrence and USD 600,000 aggregate, with MSBOC listed for cancellation notice
Question 1
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About this Exam

Prepare with the MS Law and Business Practice Questions - Mississippi Law and Business Management Examination Exam practice quiz. This question bank includes 100 questions covering percent, contractor, msboc, cost, and commercial. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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MS Law and Business Practice Questions - Mississippi Law and Business Management Examination Exam

This practice set contains 100 questions from the matching question bank and focuses on percent, contractor, msboc, cost, and commercial. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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