What is the minimum bond amount required for a Nevada Class C contractor license?
Correct Answer
D) $15,000
Under NRS 624, Class C contractors must maintain a minimum bond of $15,000.
Why This Is the Correct Answer
Under NRS 624, Class C contractors (limited to projects under $100,000) must maintain a minimum surety bond of $15,000. This bond protects consumers and subcontractors from financial harm caused by the contractor's failure to perform or pay.
Why the Other Options Are Wrong
Option A: $10,000
$10,000 is below the NRS 624 minimum for Class C and would not satisfy the bond requirement. This figure has no basis in Nevada contractor licensing statute.
Option B: $25,000
$25,000 is the bond threshold associated with higher license classifications (Class A or B), not Class C. Confusing classification tiers is a common error.
Option C: $5,000
$5,000 is far below the statutory minimum and is not a recognized bond level for any Nevada contractor classification under NRS 624.
Memory Technique
Think '15 for C': Class C = $15,000 bond. The letter C is the 3rd letter, and 15 has a 1 and a 5 — just remember '15 for the third class.'
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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