A general contractor must complete how many hours of continuing education during each biennial license period in Florida?
Correct Answer
B) 14 hours
Florida requires general contractors to complete 14 hours of continuing education during each biennial license period. This education must include specific topics related to construction industry updates and regulations.
Why This Is the Correct Answer
Florida Statute 489.113 specifically mandates that general contractors must complete 14 hours of continuing education during each biennial (two-year) license period. This requirement ensures contractors stay current with industry standards, building codes, safety regulations, and business practices. The 14-hour requirement is part of Florida's effort to maintain professional competency among licensed contractors. Failure to complete these hours can result in license suspension or inability to renew the license.
Why the Other Options Are Wrong
Option A: 12 hours
10 hours is insufficient and does not meet Florida's statutory requirement for general contractor continuing education.
Option C: 16 hours
16 hours exceeds the actual requirement, though completing additional hours beyond the minimum is always beneficial for professional development.
Option D: 10 hours
12 hours falls short of the mandated 14-hour requirement established by Florida law for general contractors.
Memory Technique
Think 'Lucky 14' - Florida general contractors need 14 hours of CE every 2 years to stay lucky and keep their license active.
Reference Hint
Florida Statute 489.113 - Continuing Education Requirements for Construction Industry Licensees
More Business & Finance Questions
A general contractor purchases equipment worth $45,000 with a useful life of 9 years and no salvage value. Using straight-line depreciation, what is the annual depreciation expense?
What is the typical recommended coverage amount for general liability insurance for a small to medium-sized general contracting business?
A contractor estimates startup costs of $75,000 for equipment, $25,000 for initial inventory, $15,000 for insurance premiums, and $10,000 for working capital. They can finance 70% of the total. How much cash do they need?
When establishing professional relationships with architects and engineers, what is the most important factor for a general contractor to consider?
A partnership agreement for a construction company should address all of the following EXCEPT:
A contractor purchases a truck for $60,000. After 5 years, it has accumulated depreciation of $35,000. What is the truck's book value?
A contractor's business plan projects first-year revenue of $500,000 with a 15% net profit margin. If actual revenue is $450,000 with the same profit margin, what is the variance in net profit?
Using the Modified Accelerated Cost Recovery System (MACRS), construction equipment is typically depreciated over how many years?
A contractor is comparing financing options for equipment purchase. Option A: $80,000 cash purchase. Option B: $20,000 down, $65,000 financed at 6% for 4 years. What is the total cost of Option B?
A contractor purchases equipment using a capital lease with a present value of $120,000. How should this be recorded on the balance sheet?