What is the minimum bond amount required for a Class B contractor license in Nevada?
Correct Answer
C) $15,000
Nevada requires a minimum bond of $15,000 for Class B contractor licenses under NRS 624.
Why This Is the Correct Answer
Nevada Revised Statutes (NRS) 624 sets the minimum bond requirement for a Class B contractor license at $15,000. This amount reflects the lower financial risk associated with Class B licenses, which cover specialty and limited-scope work compared to the broader Class A license.
Why the Other Options Are Wrong
Option A: $25,000
$25,000 is incorrect. This figure exceeds the Class B minimum and is not the threshold established by NRS 624 for this license class.
Option B: $10,000
$10,000 is incorrect. This amount falls below the legally required minimum. Nevada law requires at least $15,000 to ensure adequate consumer protection.
Option D: $50,000
$50,000 is incorrect. This is a much higher figure than the Class B minimum and would be more associated with higher-tier licensing requirements.
Memory Technique
Think '15 for B': Class B = $15,000. The letter B has two bumps, and 15 is the middle ground between 10 and 25 — right in the center, just like 'B' is in the alphabet.
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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