EstatePass
nv-supplementNevada Business & Lawhard

A contractor's bond claim is filed for $8,000 in Nevada. The contractor's bond amount is $15,000. If multiple claims total $25,000, how much will this specific claimant receive from the bond?

Correct Answer

C) $4,800

When claims exceed the bond amount, payments are prorated. $8,000 ÷ $25,000 × $15,000 = $4,800.

Answer Options
A
$15,000
B
$8,000
C
$4,800
D
$6,000

Why This Is the Correct Answer

When claims exceed the bond amount, payments are prorated. $8,000 ÷ $25,000 × $15,000 = $4,800.

Was this explanation helpful?

More nv-supplement Questions

People Also Study

Related Study Resources

Practice More Contractor Exam Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your Florida General Contractor exam.

Start Practicing

Disclaimer: EstatePass is an independent exam preparation platform and is not affiliated with, endorsed by, or connected to any state contractor licensing board, the Construction Industry Licensing Board (CILB), the Department of Business and Professional Regulation (DBPR), NASCLA, Pearson VUE, PSI, or any government agency. Exam requirements, fees, and regulations change frequently. Always verify current requirements with your state's licensing board before making decisions. Information shown was last verified on the dates indicated and may not reflect the most recent changes.