EstatePass
nv-supplementNevada Business & Lawmedium

A homeowner files a complaint with the NSCB claiming a contractor abandoned a $75,000 project. If the contractor is found liable, what is the maximum amount the Nevada Residential Recovery Fund will pay?

Correct Answer

A) $40,000

The Nevada Residential Recovery Fund has a maximum payout limit of $40,000 per claim for damages caused by licensed contractors.

Answer Options
A
$40,000
B
$15,000
C
$75,000
D
$50,000

Why This Is the Correct Answer

The Nevada Residential Recovery Fund has a maximum payout limit of $40,000 per claim for damages caused by licensed contractors.

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.