A contractor's employee is injured and files a workers' compensation claim for $45,000. The contractor's experience modification rate increases from 1.0 to 1.3. If the base premium was $8,000, what is the new annual premium?
Correct Answer
D) $10,400
New premium = Base premium × Experience modification rate = $8,000 × 1.3 = $10,400
Why This Is the Correct Answer
New premium = Base premium × Experience modification rate = $8,000 × 1.3 = $10,400
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A general contractor files a lien for $45,000 on a commercial property. The lien was filed 85 days after completion of work. Within what timeframe must the contractor file suit to foreclose on this lien?
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If a contractor's workers' compensation policy lapses, the Georgia State Board must be notified within how many days?
