Download or read book 2023 Virginia PSI Business and Law Class A or B Contractor Exam Prep written by Upstryve Inc and published by Brown Technical Publications Inc. This book was released on with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get one step closer to becoming a Virginia contractor with a prep course designed by 1 Exam Prep to help you conquer the required Virginia Business examination with PSI. Use the online course structure to tailor your prep to your individual learning style. You’ll have a full year of access to the online course. Test-taking techniques and tips Highlighting and tabbing locations for the books, so you can quickly and easily reference your materials during the exam (tabs and books sold separately) Practice questions for the Virginia portion, general portion, and advanced portion of the exam Class A/B License Requirements: Virginia requires two licenses to become a contractor: Business / Law and Technical. This Class A/B license covers the business and law portion and is required by the designated employee or member of responsible management. There is an 8-hour Pre-License requirement for all new Virginia Contractors. The same person who takes the Pre-License course must be the same person who takes the Class A/B exams. Class A – required for all projects in exceeding $120,000 and yearly revenue over &750,000. The Company must have a $45k minimum net worth Class B – required for all projects exceeding $10,000 and not more than $120,000 per project, and not to exceed $750,000 in yearly revenue. The company must have a minimum net worth of $15,000 Exam and Application: Exams are administered by PSI and can be scheduled online or by calling PSI EXAMINATION SERVICES (800) 733-9267 The Class A exam consists of three parts: Virginia portion, General portion, and Virginia Portion. The Class B exam consists of just the Virginia and General portions. VIRGINIA PORTION, 24 Items Passing Score: 18 48 Minutes to complete this portion. Regulation of Contractors (7 Items) Board Rules and Regulations (5 Items) Building Codes (5 Items) Transaction Recovery Fund (5 Items) Virginia Erosion and Sediment Control Regulations (2 Items) GENERAL PORTION, 50 Items Passing Score: 35 100 Minutes to complete this portion. Business Organization (2 Items) Estimating and Bidding (10 Items) Contract Management (10 Items) Project Management (7 Items) Risk Management (3 Items) Safety (5 Items) Labor Laws (3 Items) Financial Management (5 Items) Federal and State Taxes (4 Items) Lien Laws (1 Item) ADVANCED PORTION, 24 Items Passing Score: 17 60 Minutes to complete this portion. Estimating and Bidding (1 Item) Contract Management (4 Items) Project Management (1 Item) Risk Management (2 Items) Safety (2 Items) Labor Laws (4 Items) Financial Management (5 Items) Federal and State Taxes (4 Items) Lien Laws (1 Item)