Mississippi Online Business & Law Management Exam Preparation
Our course combines instructor-led HD-Videos with interesting slides and interactive sample quizzes to make it easy to stay engaged and absorb everything you need to know to pass this exam. Follow along in your book to highlight the important points to study.
|Business & Law Management Exam Course
Regardless of whether you are seeking a residential or a commercial contractor license, you will be required to pass the Business and Law exam. You must also pass the Trades exam for the type of license you are seeking.
NOTE: The Business and Project Management for Contractors Book is required for this course and allowed into the exam with you.
Exam Content Information
This course covers everything you need to know to pass the Business & Law Management exam. Below are the subjects on the exam with the number of questions from each subject. Keep in mind that PSI Examination Services takes the questions at random from a pool of over 1,000 questions so that no two test takers get the exact same test.
Here are the exam subject areas and the number of questions in each.
You will be given 2 hours to take this 50 question test. You must receive a 70% or better to pass.
- Licensing Requirements – 5 questions
- Estimating and Bidding – 7 questions
- Lien Law – 1 question
- Financial Management – 5 questions
- Tax Law – 5 questions
- Labor Laws – 5 questions
- Project Management – 5 questions
- Contracts – 6 questions
- Business organization – 2 questions
- Risk Management – 4 questions
- Environment & Safety – 5 questions
This course will prepare students for the Business and Law portion of the exam and is based on the relevant chapters found in the Mississippi NASCLA Contractors Guide to Business, Law and Project Management, 4th Edition.
Residential Licensing Law
Commercial Licensing Law
Bidding and Estimating
Common Sources of Error
Submitting the Bid
Job Cost Recording
Making a Profit
Filing a Claim of Lien
Interim Waiver and Release Upon Payment
Waiver and Release Upon Final Payment
Affidavit of Nonpayment
Financial Ratios and Trend Analysis
Methods of Accounting
Accounting for Materials
Mississippi State Taxes
Hiring Minors for Construction
Other Labor Laws
Workers and Unemployment Compensation
Project Life Cycle
Budget and Cost Controls
Tracking the Budget
Basic Contract Elements
Breach of Contract
Types of Contracts
Methods of Contracting
Contract Documents and Project Manual
Oral vs. Written Contracts
New Business Start-up
Establishing a Business Entity
Naming your Business
Contract Surety Bonds
Federal Construction Projects
Mississippi Public Construction Projects
Jobsite Safety and Environmental Factors
Safety and Health Programs
Hazardous and Non-hazardous Waste
Lead Based Paint
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