Under NRS 624, what is the minimum bond amount required for a Class A general contractor license in Nevada?
Correct Answer
B) $100,000
NRS 624.263 requires Class A general contractors to maintain a minimum bond of $100,000.
Why This Is the Correct Answer
$100,000 is correct. NRS 624.263 sets the minimum bond requirement for a Class A general engineering or general building contractor license at $100,000.
Why the Other Options Are Wrong
Option A: $200,000
$200,000 is incorrect. This figure doubles the actual requirement. No standard Nevada contractor classification requires a $200,000 bond at the minimum threshold.
Option C: $150,000
$150,000 is incorrect. This is a plausible-sounding midpoint but is not a bond threshold recognized under NRS 624.263 for Class A licensees.
Option D: $50,000
$50,000 is incorrect. This is the minimum bond for lower-tier or specialty contractor classifications, not for a Class A general contractor.
Memory Technique
Class A = the top class = six-figure bond = $100,000. 'A' stands for the highest, and $100,000 is a round six-figure number that anchors the Class A requirement.
More Nevada Questions
Under NRS 624, what is the minimum net worth requirement for a Class A General Contractor license in Nevada?
A Nevada contractor files a mechanics' lien for $45,000. What is the required bond amount to release this lien under NRS 108?
According to Nevada building codes, which edition of the International Building Code (IBC) is currently adopted for commercial construction?
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?
What is the minimum net worth requirement for a Nevada Class A general contractor license?
A contractor's employee is injured on a Nevada job site. The contractor lacks workers' compensation insurance. What is the potential penalty under NRS 624?
Under Nevada law, a contractor's workers' compensation insurance policy lapses on June 1st, and they continue working until June 15th before renewing. What is the potential consequence?
A general contractor hires a subcontractor who injures a worker on site. The subcontractor has no workers' compensation insurance. Under Nevada law, who is primarily liable for the claim?
A Nevada contractor fails to carry required workers' compensation insurance. What penalty can the Nevada Industrial Insurance System impose per day of non-compliance?
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