Under South Carolina contractor licensing law, what is the minimum net worth requirement for a General Contractor Class A license?
Correct Answer
B) $50,000
SC Code Title 40-11 requires a minimum net worth of $50,000 for General Contractor Class A licenses.
Why This Is the Correct Answer
SC Code Title 40-11 explicitly requires applicants for a General Contractor Class A license to demonstrate a minimum net worth of $50,000.
Why the Other Options Are Wrong
Option A: $75,000
$75,000 exceeds the actual Class A requirement. It may be confused with requirements for higher-tier or specialty licenses, but $50,000 is the correct Class A threshold.
Option C: $25,000
$25,000 is below the Class A minimum. This figure might apply to a lower license classification or be confused with a bond amount, but not the net worth requirement for Class A.
Option D: $100,000
$100,000 is a significant overstatement of the Class A net worth requirement. This could be confused with the requirement for a higher classification such as Class CG (unlimited).
Memory Technique
Class A = $50,000. Think 'A = 50' — the letter A is the 1st letter of the alphabet, and 50 is half of 100. Or simply: 'Fifty thousand for an A in South Carolina.'
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