EstatePass
ca-license-lawCSLB Licensing Requirementsmedium

A contractor's surety bond is $25,000. If a claimant is awarded $18,000 and bond costs are $2,000, what amount remains available for future claims?

Correct Answer

D) $5,000

The remaining bond amount is $25,000 - $18,000 (claim) - $2,000 (costs) = $5,000 available for future claims.

Answer Options
A
$25,000
B
$23,000
C
$7,000
D
$5,000

Why This Is the Correct Answer

The remaining bond amount is $25,000 - $18,000 (claim) - $2,000 (costs) = $5,000 available for future claims.

Was this explanation helpful?

More ca-license-law 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.