According to NC General Statutes Chapter 87, what is the minimum dollar threshold for projects that require a licensed general contractor?
Correct Answer
C) $30,000
Under NC General Statutes Chapter 87, projects valued at $30,000 or more require a licensed general contractor.
Why This Is the Correct Answer
$30,000 is the statutory threshold established in NC General Statutes Chapter 87. Any single project with a cost of $30,000 or more requires that the contractor hold a valid NC general contractor license.
Why the Other Options Are Wrong
Option A: $75,000
$75,000 is much higher than the actual threshold and would incorrectly allow unlicensed contractors to perform substantial work.
Option B: $15,000
$15,000 is below the actual threshold. While some states set lower thresholds, NC's Chapter 87 specifies $30,000.
Option D: $50,000
$50,000 is above the actual $30,000 threshold. Using this figure would allow contractors to perform projects between $30,000 and $50,000 without a license, violating NC law.
Memory Technique
Think '$30K = License Key' in NC. Thirty thousand unlocks the requirement. Below $30K, no license needed; at $30K and above, a license is mandatory.
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