What is the maximum monetary limit for Class B general contractor licenses in Nevada?
Correct Answer
B) $1,000,000
Class B general contractors in Nevada are limited to projects not exceeding $1,000,000.
Why This Is the Correct Answer
Under Nevada's contractor licensing system, Class B general contractors are authorized for projects up to $1,000,000. This cap distinguishes Class B from Class A, which has no monetary limit.
Why the Other Options Are Wrong
Option A: $750,000
$750,000 is not a defined threshold in Nevada's Class B licensing structure. It is a plausible-sounding distractor between $500,000 and $1,000,000.
Option C: $500,000
$500,000 is below the actual Class B limit and is sometimes confused with other thresholds (e.g., smaller specialty tiers). It is not the Class B cap.
Option D: $1,500,000
$1,500,000 exceeds the Class B limit. Projects above $1,000,000 require a Class A license, which carries no monetary ceiling.
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?
People Also Study
Business & Financial Management
120 questions · 70% to pass
Contract Administration
60 questions · 70% to pass
Project Management
60 questions · 70% to pass
Related Study Resources
Previous Question
A Nevada contractor's employee is injured on the job, resulting in $75,000 in medical expenses and $45,000 in lost wages. The contractor failed to carry workers' compensation insurance. What is the potential penalty under Nevada law?
Next Question
A material supplier provides $28,000 worth of materials to a project. Under NRS 108, what is the deadline for filing a mechanic's lien if the project was completed on August 30th?