Bảo hiểm & Quyền cầm giữCâu 1531 / 1605
Which of the following is TRUE about the difference between the CSLB contractor's license bond and a project performance bond?
a.The license bond is a statewide licensing requirement; a performance bond is project-specific and guarantees completion of that job
b.The performance bond protects consumers statewide from license-law violations
c.The license bond guarantees completion of a specific project
d.They are the same thing
Giải thích
The contractor's license bond is a licensing prerequisite protecting the public from license-law violations across all of the contractor's work. A performance bond is tied to one specific project and guarantees that job's completion. They serve different purposes.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A 'waiver of subrogation' clause between an owner and contractor generally means:
- A contractor who records a mechanics lien for an amount it knows is willfully overstated risks:
- Separate from project insurance, the CSLB requires every active licensed contractor to maintain a 'contractor's bond' (contractor license bond). Its main purpose is to:
- A preliminary notice in California must be served by which method to be effective?
- A subcontractor's certificate of insurance names the general contractor as 'certificate holder.' Being a certificate holder means the general contractor:
- On a private work of improvement, when a valid payment bond has been recorded, an unpaid subcontractor may:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)