In Nevada, what is the minimum net worth requirement for a Class A general contractor license?
Correct Answer
B) $45,000
Under NRS 624, Class A general contractors must maintain a minimum net worth of $45,000.
Why This Is the Correct Answer
Under NRS 624, Nevada requires Class A general contractors to maintain a minimum net worth of $45,000. This financial threshold is established to ensure that Class A licensees have sufficient financial stability to take on the larger, more complex commercial projects that a Class A license authorizes.
Why the Other Options Are Wrong
Option A: $100,000
$100,000 is not the minimum net worth for a Class A license under NRS 624. This figure is significantly higher than the statutory requirement. Selecting the highest dollar amount when uncertain is a common test-taking error that this distractor exploits.
Option C: $75,000
$75,000 is not the requirement under NRS 624. This is a plausible-sounding middle ground, but Nevada law specifies $45,000. There is no tier at $75,000 within the Nevada contractor licensing net worth requirements.
Option D: $50,000
$50,000 is close to the correct figure but is not the statutory requirement. The actual minimum is $45,000. This distractor is designed to catch candidates who remember the general range but not the precise number.
Memory Technique
Remember '$45,000 for Class A Nevada.' The number 45 appears in NRS 624 for Class A. Think: '4 + 5 = 9, and Class A is Nevada's top tier contractor license' — or simply drill: Nevada Class A = $45K net worth.
More nv-supplement Questions
Under NRS 624, what is the minimum net worth requirement for a Class A General Contractor license in Nevada?
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A contractor receives a Notice of Disciplinary Action from the NSCB. Within how many days can they request a hearing to contest the action?
Which Nevada building code edition is currently adopted for commercial construction in most Nevada jurisdictions?
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