Virginia Contractor General Practice Test

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Prepare effectively for the Virginia Contractor General Exam with in-depth quizzes, flashcards, and detailed explanations. Get ready to pass the test with confidence!

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If a contractor earns more than what amount per year, they are required to obtain a Class A license?

$250,000.00
$500,000.00
$750,000.00
$1,000,000.00

The correct answer is: $750,000.00

In Virginia, a contractor must obtain a Class A license if their gross revenues from contracting activities exceed $750,000 in a 12-month period. This requirement is set to ensure that contractors handling larger projects have the necessary experience, financial stability, and compliance with industry standards to protect consumers and maintain the integrity of the construction industry. Class A licensure reflects the contractor's capability to manage substantial contracts effectively, which is crucial for larger-scale projects that may involve more complex regulations, a higher level of liability, and greater financial risk.