Which statement about the CSLB license bond and a project performance bond is TRUE?
a.The license bond is statewide; a performance bond covers one job
b.The performance bond protects consumers across all the work
c.The license bond guarantees completion of a specific project
d.They are one instrument, known by two different names
Giải thích
The $25,000 bond required by B&P §7071.6 is a condition of licensure that runs to the beneficiaries listed in §7071.5 and stands behind everything the licensee does, in a fixed amount that has nothing to do with any contract's size. A performance bond is bought for one project, sized to that contract, and runs to that project's obligee, guaranteeing the job gets finished. (b) and (c) simply swap the two. (d) misses both differences that matter — the source, statute versus contract, and the scope, all work versus one job.
Trích dẫn luật: B&P Code §7071.5 / §7071.6Luyện miễn phí toàn bộ 1632 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A waiver of subrogation clause between an owner and a contractor generally means:
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- 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 must be given 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 where a valid payment bond has been recorded, an unpaid subcontractor may:
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Đội ngũ 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)