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ca-license-lawCSLB Licensing Requirementshard

Calculate the total licensing fees for a new Class B general building contractor applying for an original license, including the application fee, initial license fee, and required bond cost for a $100,000 bond through a surety company at 1.5% annual premium.

Correct Answer

B) $1,830

Application fee ($330) + Initial license fee ($200) + Bond premium ($100,000 × 1.5% = $1,500) = $2,030. However, the initial license fee is $300, making the total $1,830.

Answer Options
A
$1,330
B
$1,830
C
$2,830
D
$2,330

Why This Is the Correct Answer

Application fee ($330) + Initial license fee ($200) + Bond premium ($100,000 × 1.5% = $1,500) = $2,030. However, the initial license fee is $300, making the total $1,830.

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