Question 1 {3 points] Select the business entity that does not pass through income tax liability to the Owner. 0 \"S" Corporation 0 Limited Liability Company 0 General Partnership 0 Sole Proprietorship O \"C" Corporation Question 2 {3 points] Select TWO things that are NOT part of a contract for construction: C] General Conditions :5: Requirements C] Change Orders C] Plans St Drawings C] Shop Drawings C] Verbal Communications [exceeding $500] C] Technical Specifications Question 3 (3 points) Select all the business entities that shield the owners from personal liability for the business activities: General Partnership "S" Corporation Sole Proprietorship Limited Liability Company "C" Corporation Question 4 (3 points) Indemnity is a fancy legal term for (select one): O Identity theft "Act of God" O To "hold harmless" O To provide insuranceWhat clues SWOT stand for? Question 6 {3 points) List 3 possible sources of capital for starting up a business Question 7 (3 points) Give one reason why a company might consider becoming registered as a Minority- Owned, Woman-Owned, or Emerging Small Business? A/ Question 8 (3 points) Identify which of the following would qualify as Marketing (Select all that apply): Evaluate a lead (Go / No-Go Evaluation) Estimating the value of a project Create a brand, a consistent image for the company Communicate services and identifying new onesQuestion 9 {3 points) 1|ll'll'hat are two reasons you might decide to not pursue a project with a new client? Question 10 (3 points) As a contractor. which contract type is LEAST risky and most beneficial (select one}? 0 Cost Plus a Fee 0 Guaranteed Max Plus Fee 0 Construction Management I General Contractor [CM/GE] O Lump Sum Question 11 (3 points) Describe the difference between the "design/bid/build" and "design/build" methods of project delivery. A/ Question 12 (3 points) Match the dispute resolution processes with the definition. Litigation 1. Private, 3rd party determination with a binding outcome Mediation 2. A non-binding process with a binding outcome Arbitration 3. Public process with appeal rightsQuestion 13 (3 points) List 5 groups of people with whom you will need to develop and maintain relationships in 1your business. Question 14 (3 points) Give TWO examples of when a CCB License NOT Required? Question 15 (3 points) What does SMART stand for? Question 16 (3 points) Define Liquidated Damages. Question 1? (3 points) Define what a CCD [Construction Change Directive) is. Question 18 (3 points) At what point in time does a contractor become involved in an IPD [Integrated Project Delivery) project? 0 Once design is complete 0 After 50% construction documents 0 After 50% design documents 0 At the beginning of design Question 19 (3 points} When there is a conflict between the drawings and specifications, the drawings control. Question 20 (3 points} The contractor is always responsible for obtaining and paying for permits pertaining to construction