Question 1
Under S.C. Code § 40-11-30, a South Carolina general or mechanical contractor license is required when the total cost of construction exceeds which amount?
Correct Answer:
USD 10,000
Question 2
S.C. Code § 40-11-20 defines working capital as which calculation?
Correct Answer:
Current assets minus current liabilities
Question 3
A South Carolina general contractor wants Group Two. Which set matches S.C. Code § 40-11-260 and the LLR group table?
Correct Answer:
Bids and jobs not to exceed USD 400,000; working capital USD 40,000 or net worth USD 60,000; surety bond USD 60,000
Question 4
Under S.C. Code § 40-11-230(C), when may one individual serve as primary qualifying party for two licensed entities?
Correct Answer:
Only if both entities operate from the same physical location, the individual is involved daily in both, derives a livelihood from both, and has ownership in both with at least 50 percent ownership in one
Question 5
In a commercial quantity takeoff, what is the estimator's first task?
Correct Answer:
Measure and list the work quantities shown on the plans and specifications
Question 1
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About this Exam

Prepare with the SC Law and Business Management Practice Questions - South Carolina Business Management and Law for Commercial Contractor Examination Exam practice quiz. This question bank includes 100 questions covering contractor, code, contract, commercial, and percent. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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SC Law and Business Management Practice Questions - South Carolina Business Management and Law for Commercial Contractor Examination Exam

This practice set contains 100 questions from the matching question bank and focuses on contractor, code, contract, commercial, and percent. 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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