Business-Law Exam Video

    Because the construction business may be easy to get into, many enter without sufficient business management skills.
    Over 85% of contractor failures result from business reasons, not from lack of trade skills. Over one-third of these failures were less than five years from starting the business.
    Government regulations, squeezed cash flows, tightened profit margins, and a lack of quality skilled labor have given the construction industry one of the highest failure rates of any business.

    Construction businesses succeed mainly because of careful planning and implementation. The days of throwing your tools in the trunk of your car and calling yourself a contractor are gone.

    Success on the Business-Law exam starts well before you enter the examination room. You must become familiar with the reference book and know where to find the answers. Being unfamiliar with the exam and searching for the answer takes time, and time is limited to approximately two minutes per question.
    Highlighting is one of the most important study aids. As you answer the exam practice questions hi-lite the answers in your reference book.
    With Contractor's Business and Law calculations there are only a few categories that you need to be familiar with and understand how to solve. Categories that require a calculation are:

Employees pay check
Percentage of completion of a project
Progress payment
Job cost
Net worth
Working capital
Profit
Contract price

    These categories will be covered in the calculation exam questions you receive with the dvd, and the calculation exam questions will be answered on the dvd.
    Several questions will be asked from the same category only the numbers will change.
    The math is easy using your calculator to add, subtract, multiply or divide.

    After finishing the exam turn on the dvd and I'll go over each answer.

    To grade yourself: Divide the number of correct answers by the number of questions worked. Example: 38 correct answers divided by 50 questions answered = 76%.

"Business-Law Exam DVD"