Below is a free Florida contractor license practice test: exam-style multiple-choice questions covering contract administration, project management, lien law and Business & Finance, each with the correct answer and an explanation. The full 350-question pack with reference pointers is available as an instant download.
Sample questions
Q1. Under a typical Florida construction contract, retainage is best described as:
- A penalty for late completion
- A percentage of each progress payment withheld until satisfactory completion
- The contractor’s profit margin
- A deposit paid before work begins
Answer: B. Retainage is a portion of each progress payment (commonly up to 10% in early phases) withheld by the owner as security for satisfactory completion. Reference: contract administration materials on payment provisions.
Q2. A critical path in project scheduling is:
- The sequence of tasks with the most expensive resources
- The shortest possible route through the schedule
- The sequence of dependent tasks that determines the minimum project duration
- The list of tasks assigned to subcontractors
Answer: C. The critical path is the longest chain of dependent activities; any delay on it delays the whole project. Reference: project management scheduling chapters.
Q3. In Florida, a Notice to Owner under the Construction Lien Law generally must be served no later than:
- 10 days after starting work
- 45 days after first furnishing labor or materials
- 90 days after final completion
- Before the contract is signed
Answer: B. The Notice to Owner must generally be served within 45 days of first furnishing labor, services, or materials. Lien law deadlines are heavily tested. Verify the current statute wording in your reference set.
Q4. Which financial statement shows a company’s assets, liabilities, and equity at a point in time?
- Income statement
- Cash flow statement
- Balance sheet
- Trial balance
Answer: C. The balance sheet is the snapshot statement (assets = liabilities + equity). The income statement covers a period; this distinction is a recurring Business & Finance question.
Q5. Workers’ compensation coverage in Florida construction is generally required when a contractor has:
- Ten or more employees
- One or more employees
- Only employees working at heights
- An annual payroll above $250,000
Answer: B. Construction-industry employers in Florida generally must carry workers’ compensation with one or more employees — a stricter standard than non-construction industries. Verify current thresholds in your references.
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See the full exam packSample questions are independent study material written to the style of the official exam outline. They are not actual exam questions. Verify statute and fee details against current official references.