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Virginia Contractor – Advanced Portion (Class A) Practice Exam

What This Practice Exam Covers

The Virginia Class A Contractor Advanced exam consists of 24 questions answered in 60 minutes, with a passing score of 71% (17 correct). It covers 9 topic areas drawn from business law, financial management, tax obligations, labor law, project management, risk, safety, estimating, and lien law — all tested at the depth a Class A license demands.

Free practice exam: Get 10 questions per attempt drawn from a limited pool. You can retake it as often as you like to get comfortable with the format and question style. It costs nothing and requires no account.

Full practice exam (paid): Mirrors the real exam exactly — 24 questions, 60-minute timer, 71% passing threshold. Questions are pulled from a pool of 90+ items, so every attempt presents a different set. This is the tool to use once you are ready to simulate test conditions and identify which of the 9 topic areas still need work.

Start with the free exam to get your bearings, then move to the full exam for serious preparation.

What You'll Be Tested On

Financial Management — 5 items

This is the heaviest topic and demands real arithmetic. Expect questions on financial ratio analysis (liquidity ratio, quick ratio, debt ratio, profitability ratio, return on assets), balance sheet structure (assets = liabilities + equity), and how to read an income statement or statement of cash flows. Contract accounting methods — completed contract, percentage of completion, and cost comparison — are all testable, and you must know when each is appropriate. Depreciation calculations appear; know the straight-line formula cold: (Cost − Salvage Value) ÷ Useful Life. The cash vs. accrual method distinction and accounts receivable collection strategy round out this section. Source: NASCLA Contractors Guide, Chapter 14.

Federal and State Taxes — 4 items

Questions here test specific rules, not general concepts. Know FICA rates for Social Security (6.2% employee + 6.2% employer) and Medicare (1.45% each side). Know the FUTA liability threshold ($1,500 in any quarter, or one employee for 20 weeks) and that Form 940 is filed annually. Understand the monthly and semiweekly deposit schedules, what triggers the one-day rule, and the penalty structure for late or insufficient deposits. Know when an EIN is required and how self-employment tax applies to sole proprietors. Source: NASCLA Contractors Guide, Page 15 (Tax Basics chapter).

Contract Management — 4 items

You need to know the five required elements of a binding contract (offer, acceptance, consideration, competent parties, legal purpose) and Virginia's specific written contract requirements for residential projects. Distinguish lump-sum, unit-price, and cost-plus payment structures by their risk-allocation profiles. Understand retainage mechanics, what constitutes breach of contract (material vs. minor), how liquidated damages clauses function, and what force majeure, indemnification, and differing site conditions clauses actually do. Alternative dispute resolution — mediation vs. arbitration vs. collaborative law — is tested. Source: NASCLA Contractors Guide, Chapter 8.

Labor Laws — 4 items

Expect scenario-based questions on FLSA overtime (time-and-a-half after 40 hours), lawful vs. prohibited interview questions, and Form I-9 completion windows (must be completed by the employee's first day of work; employer section within three business days). Know Virginia new hire reporting deadlines and the ADA's covered employer threshold (15 or more employees) and reasonable accommodation standard. Child labor rules are frequently tested: 14–15-year-olds face daily/weekly hour caps and time-of-day restrictions that differ between school and non-school periods. Source: NASCLA Contractors Guide, Chapter 11; Appendix M.

Risk Management — 2 items

Know the surety bond types — bid, performance, payment, maintenance, fidelity, and lien bonds — and what each protects. Understand the bond claims process and a contractor's options upon default. On the insurance side, distinguish builders risk (structure under construction), inland marine (materials in transit), and equipment floater (off-site equipment). For liability, know CGL, umbrella, completed operations, and professional liability coverages. Source: NASCLA Contractors Guide, Managing Risk chapter.

Safety — 2 items

OSHA's 6-foot fall protection trigger (§1926.501(b)(1)) governs when guardrails, safety nets, or personal fall arrest systems are required. Know guardrail minimum height (42 inches, per §1926.502(b)(3)) and stairway requirements under §1926.1052(c)(1). Flammable liquid storage rules and PPE selection criteria are also testable. Source: 29 CFR 1926.

Estimating and Bidding — 1 item

Focus on bid ethics — bid shopping, bid peddling, and bid rigging are defined distinctions the exam exploits. Know the quantity take-off method and how to separate project overhead from company overhead when pricing a job. Source: NASCLA Contractors Guide, Bidding and Estimating chapter.

Project Management — 1 item

Understand the three scheduling methods (calendar, bar chart/Gantt, CPM) and when each is appropriate. Know what float time and critical path mean in practice. The project life cycle phases (pre-construction, construction, closeout) and the role distinctions among superintendent, foreman, and materials expediter are also fair game. Source: NASCLA Contractors Guide, Scheduling and Project Management chapter.

Lien Laws — 1 item

Virginia mechanics' lien rules require precision. Know the 90-day filing deadline for the memorandum of lien, what content is required, and how the notice to lien agent requirement works for one- and two-family residences. Understand lien priority rules and the enforcement/foreclosure process. Source: Virginia Code §§ 43-4.01(C), 43-7, 43-13.1, 43-23.

Worked Sample Questions

Question 1 — Financial Management: Straight-Line Depreciation

As a Class A contractor, you purchased a piece of equipment for $80,000 with an estimated salvage value of $5,000 and a useful life of 5 years. Using straight-line depreciation, what is the yearly depreciation amount?

A. $16,000
B. $17,500
C. $15,000
D. $12,000

Correct Answer: C — $15,000

Straight-line depreciation formula: (Initial Cost − Salvage Value) ÷ Useful Life

($80,000 − $5,000) ÷ 5 = $75,000 ÷ 5 = $15,000 per year

The trap here is Option A ($16,000), which results from dividing the full purchase price by 5 without subtracting salvage value. Always subtract salvage value before dividing. Source: NASCLA Contractors Guide, Chapter 14 (Financial Management) — Depreciation Methods section.

Question 2 — Contract Management: Alternative Dispute Resolution

You are a contractor involved in a payment dispute with a project owner. You want to resolve the matter without going to court, using a process where a neutral third party facilitates discussion but does NOT render a binding decision. Which method should you use?

A. Litigation
B. Arbitration
C. Collaborative law
D. Mediation

Correct Answer: D — Mediation

Mediation uses a neutral third-party facilitator who helps both sides work toward a mutual agreement — but issues no ruling. Arbitration (B) also avoids court but does produce a binding decision, which is the key distinction. Litigation (A) is court proceedings. If mediation fails, other methods can still be pursued. Source: NASCLA Contractors Guide, Chapter 8 — Alternative Dispute Resolution.

Question 3 — Labor Laws: Child Labor Hour Restrictions

A 15-year-old has applied for a summer job at your construction company. During the summer when school is not in session, what is the latest time this minor may work?

A. 9 p.m.
B. 10 p.m.
C. 8 p.m.
D. 7 p.m.

Correct Answer: A — 9 p.m.

When school is not in session, minors aged 14–15 may work no later than 9 p.m., no more than 8 hours per day, and no more than 40 hours per week. During school weeks, the cutoff drops to 7 p.m. — a detail the exam exploits by testing both scenarios. Source: NASCLA Contractors Guide, Chapter 11 (Employee Management).

How to Read Your Score

The passing threshold is 71%, which means 17 correct out of 24 on the real exam. On the full practice exam, that same benchmark applies.

A first practice attempt is a diagnostic, not a verdict. If you score 60–70%, that is useful information — it tells you which of the 9 topic areas are pulling your score down, not that you are unprepared to pass. Use the topic-by-topic breakdown to find your weakest areas and study those specifically before retaking.

If you score right at 71% on practice, treat that as a warning sign rather than a green light. Practice conditions are slightly more forgiving than test-day stress, and the full pool of 90+ questions means later attempts will surface topics your first attempt may have skipped. Aim for 80%+ on practice before you consider yourself ready, especially in the high-weight areas — Financial Management (5 items) and the four-item sections on Contract Management, Labor Laws, and Federal and State Taxes together account for 17 of the 24 exam questions.

Retake the full practice exam multiple times. Because questions rotate from a 90+ item pool, each attempt reveals new content.

Where Candidates Lose Points

Financial Management calculations generate the most preventable losses. The straight-line depreciation formula is simple, but candidates drop points by forgetting to subtract salvage value. Ratio analysis questions require knowing which numbers go in the numerator — confusing the quick ratio with the current ratio costs a point that takes seconds to earn with the right formula memorized.

Tax deposit schedule rules are specific enough to trip up candidates who study the concept but not the thresholds. Knowing that a "monthly depositor" is determined by a lookback period — not current-year deposits — is the kind of detail that separates a correct answer from a near-miss.

Child labor and FLSA questions use scenario traps: switching between school-session and non-school-session rules, or testing overtime on a salary vs. hourly worker. Read every scenario for the specific detail that changes the answer.

Lien law deadlines are a one-point item with zero margin for vagueness. The 90-day filing deadline for a memorandum of lien is exact — candidates who remember "about three months" rather than the specific rule get the question wrong.

Safety questions citing OSHA regulations require knowing specific trigger heights and dimensions, not just general principles. The difference between a 4-foot and 6-foot fall protection trigger, or the exact guardrail height requirement, is the kind of specificity the exam tests.

Finally, time management is real: 24 questions in 60 minutes allows 2.5 minutes per question. Multi-step Financial Management calculations can consume 4–5 minutes each if you are not practiced — leaving you rushed on the tax and labor law questions that follow.

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