What is the maximum contract amount an Intermediate General Contractor can undertake for a single project in North Carolina?
Correct Answer
A) $525,000
NC contractor classification limits Intermediate General Contractors to single project contracts not exceeding $525,000.
Why This Is the Correct Answer
Under North Carolina's contractor licensing tiers, the Intermediate General Contractor license limits the holder to single-project contracts not exceeding $525,000. This cap distinguishes Intermediate licensees from Unlimited licensees, who face no single-project ceiling, and from Limited licensees, who are capped at a lower threshold.
Why the Other Options Are Wrong
Option B: $1,000,000
$1,000,000 is not a recognized project cap in North Carolina's intermediate tier. That figure could reflect an Unlimited classification threshold in some other states or an older, incorrect recollection. NC does not have a $1,000,000 cap for Intermediate contractors.
Option C: $750,000
$750,000 is a plausible-sounding round number but is not the statutory limit for North Carolina Intermediate General Contractors. The actual cap is $525,000. This answer is a common distractor because it falls between the $525,000 Intermediate cap and higher Unlimited thresholds.
Option D: $350,000
$350,000 is below the Intermediate cap and more closely associated with the Limited General Contractor tier in North Carolina. Selecting this answer confuses the Intermediate and Limited license categories.
Memory Technique
Associate 'Intermediate' with '$525K' by thinking of it as 'five-twenty-five' — a specific, odd number that is easy to forget if you do not anchor it. Create a mental image: an intermediate-level contractor standing on a $525 bill (five $100s + one $25). The oddness of the number makes it memorable.
More North Carolina Questions
A residential contractor in NC wants to bid on a $125,000 project but currently holds an Intermediate license. What action must be taken?
A contractor discovers contaminated soil during excavation on a commercial project in Charlotte. Under NC environmental regulations, what is the first required action?
A North Carolina contractor completes a $45,000 residential addition project. The homeowner refuses to pay the final $8,000. What is the filing deadline for a mechanic's lien under NC lien law?
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A contractor performs work on a residential property in North Carolina but is not paid. The work was completed on March 15th, and the last material was delivered on March 20th. What is the deadline to file a claim of lien?
A subcontractor performing electrical work discovers that the general contractor's license has been suspended. What action should the subcontractor take according to NC General Statutes?
A contractor in North Carolina discovers contaminated soil during excavation. The soil contains petroleum products above reportable levels. Which agency must be notified immediately?
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Previous Question
A North Carolina contractor completes a $45,000 residential addition project. The homeowner refuses to pay the final $8,500. What is the deadline for the contractor to file a claim of lien on real property under NC lien law?
Next Question
Calculate the lien amount a subcontractor can claim on a $180,000 project where they provided $35,000 in materials and labor, but the general contractor still owes them $12,000: