What is the minimum bond amount required for a Louisiana commercial building contractor license?
Correct Answer
A) $15,000
Louisiana requires a minimum $15,000 surety bond for commercial building contractor licenses under R.S. 37:2150.
Why This Is the Correct Answer
$15,000 is the minimum surety bond required under Louisiana R.S. 37:2150 for a commercial building contractor license. This bond protects project owners and the public against contractor default or non-performance.
Why the Other Options Are Wrong
Option B: $25,000
$25,000 is above the required minimum and is not the threshold set by Louisiana statute R.S. 37:2150.
Option C: $10,000
$10,000 is below the statutory minimum and would not satisfy Louisiana's bonding requirement for commercial contractor licensure.
Option D: $50,000
$50,000 is significantly above the required minimum; this figure might be confused with bond amounts in other states or higher-tier licenses.
Memory Technique
Think '15 for Louisiana' — the number 15 matches the last two digits of Louisiana's area code prefix (504) minus the first digit: just anchor $15,000 to 'L' (the 12th letter) + 3 = 15. Alternatively, remember: a commercial license in Louisiana costs a '15-thousand-dollar promise.'
More Louisiana Questions
A contractor in Louisiana completes $85,000 worth of work on a residential project. The owner pays $70,000 but disputes the remaining $15,000. If the contractor files a lien claim, what percentage penalty can be awarded if the contractor prevails in court?
A contractor discovers contaminated soil during excavation that requires special disposal. The disposal cost is $12,000, and transportation is $3,500. If this was not foreseeable from the contract documents, who typically bears this cost under Louisiana law?
A construction worker is injured on a Louisiana job site. The contractor's workers' compensation carrier has 15 days to investigate. If they don't respond within this period, what happens to the claim?
Under Louisiana law, what is the minimum amount of workers' compensation insurance coverage required for construction contractors?
A contractor's employee is injured on a job site in Louisiana. The contractor has workers' compensation insurance. Which statement is correct regarding the employee's rights?
Under Louisiana Civil Code, if a building contract does not specify a completion date, when is the work considered to be due?
Under Louisiana building codes, what is the minimum width required for emergency egress windows in bedrooms?
A Class B contractor in Louisiana wants to bid on a project worth $175,000. What action must they take?
A contractor's worker is injured and files for workers' compensation. The injury occurred due to the worker's intoxication. Under Louisiana law, what is the likely outcome?
A general contractor discovers contaminated soil during excavation for a commercial project in Louisiana. Which state agency must be notified?
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