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New Jersey Contractor License Practice 11

Practice 11 for Contractor License Exam learners in New Jersey: 25 questions, explained answers, and a review routine.

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Question 1

1

A subcontractor on a private project in a state with a 90-day lien deadline last furnished labor on March 1. What is the last day to record the mechanic's lien claim, counting 90 days?

Question 2

2

A prime contract requires commercial general liability with a $1,000,000 per-occurrence limit and a $2,000,000 general aggregate. After one $1,000,000 claim is paid, how much aggregate remains for other unrelated claims that policy year?

Question 3

3

A contractor's direct job cost is $80,000. The company needs 15% net profit on the selling price and figures fixed overhead at 10% of the selling price. What selling price meets the target?

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