How many hours of continuing education must a Florida general contractor complete each biennium to maintain their license?
Correct Answer
D) 14 hours
Florida requires 14 hours of continuing education per biennium for general contractors. This ensures contractors stay current with changing regulations, codes, and industry practices.
Why This Is the Correct Answer
Florida Statute 489.113 specifically mandates that general contractors must complete 14 hours of continuing education during each two-year license renewal period (biennium). This requirement is established by the Florida Construction Industry Licensing Board and is strictly enforced for license renewal. The 14-hour requirement ensures contractors maintain current knowledge of building codes, safety regulations, business practices, and industry standards. Failure to complete these hours will result in license suspension or inability to renew.
Why the Other Options Are Wrong
Option A: 16 hours
16 hours exceeds Florida's actual requirement, though some contractors may complete additional hours voluntarily.
Option C: 10 hours
12 hours falls short of Florida's mandated continuing education requirement for general contractors by 2 hours.
Memory Technique
Think 'Lucky 14' - Florida contractors need 14 hours every 2 years to stay lucky and keep their license active.
Reference Hint
Florida Statutes Chapter 489.113 - Continuing Education Requirements for Construction Contractors
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?
