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Pass your Florida Bussiness Finance exam on your first attempt

Florida Business Finance Exam

get florida contractors licenseThe Business and Finance exam is a requirement for all types of contractors to become licensed in the State of Florida. This exam must be taken in addition to the contractor or trade exam for which you are trying to become licensed. Topics covered on the business and finance exam portion are establishing the contracting business, managing administrative duties, managing trade operations, conducting accounting functions, managing human resources, and complying with government regulations.

 

Florida Contractors License Requirements

 

let us help you get your contractors licenseTo qualify for the examination you must be at least 18 years old. You must also meet one of the following requirements: Four year construction-related degree from an accredited college (equivalent to three years experience) and one year proven related experience. One year of experience as a foreman and not less than three years of credits for any accredited college-level courses. One year experience as a workman, one year proven experience as a foreman, and two years of credits for any accredited college level courses. Two years experience as a workman, one year experience as a foreman, and one year of credits for any accredited college level courses. More info here.

 

Florida Business Finance Fees

 

contractors license feesThe fee for the examination is $135. If you are applying between June 4th of an even year and August 31st of an odd year, the license will be $409. If you are applying between September 1st of an odd year and June 3rd of an even year, the license will cost $309. If you paid $354 and submitted your examination application before February 11, 2003, your fee will be $209 and $109 respectively. Applicants are also required to provide a credit report and financial statement that is no more than 12 months old. A net worth of $2,500 - $20,000 (depending on classification) is required. The minimum general liability insurance that is required for licensure is $300,000 for bodily injury and $50,000 for property damage.

 

Florida Contractors Exam Details

 

contractor exam detailed informationFlorida requires that all contractors pass Business and Finance portion of their exam. This exam must be taken in addition to the contractors related trade exam. You will be scheduled for the examination date and site that you selected on your application. The Division I exams have three parts; business and finance, contract administration, and project management. The Division II exams have two parts; business and finance, and trade knowledge. The Florida Business and Finance exam is a 6.5 hr exam consisting of 120 equally weighted questions. A score of at least 70% is required to pass the exams. The exam is open book, multiple-choice, and timed. Exams are held 6 times per year in February, April, June, August, October, and December. Test locations are in Orlando, Tallahassee, and Miami. More info here.

Business Finance Exam Content

 

Establishing the Business

Organizational Structure
Managing Administrative Duties
Managing Trade Operations
Conducting Accounting Functions
Managing Human Resources
Complying with Government Regulations


Total Number of Test Questions: 120


Time Allowed: 390 minutes

 

Books That Are Allowed Into The Exam

 

1. Florida Statutes Chapter 455, 2015, Division of Legislative Information Services.      

 

2. AIA - A201: General Conditions of the Contract for Construction, 2007, AIA.           

 

3. AIA - A401: Standard Form of Agreement between Contractor-Subcontractor, 2007, AIA.       

 

4. AIA - A701: Instructions to Bidders, 1997, AIA. 

 

5. Builder's Guide to Accounting, 2006, Michael C. Thomsett.          

 

6. Contractor's Manual, 2017 (includes Circular E), Association of Builders and Contractors Institute.         

 

 

NOTE: If you are not currently a licensed contractor then you are required to take and pass BOTH the standard LAW exam and TRADE specific exam.

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Florida Contractors Exam Home Study Kit $149

 

complete home study kit saleOur home study materials are available in either books with CD-ROMs version or online downloadable version. Our CD-ROM software is developed using the computer-assisted testing software, which means that no internet or prior computer experience is required. Both CD-ROM and instant online download versions are identical and cover everything you need to study and pass your law and business contractors exam. The complete home study kit includes: Business Finance study manual with over 200 pages related to business management and construction law, financial, record keeping, math examples, estimating, safety, and more. Plus 500 hundred of exam practice questions with detailed explanations to all Business Finance exam practice questions. All orders also receive a complete contractors application review, 30-day online exam support, and 24/7 online applicant support.

 

Florida Contractors License Reciprocity

 

contractors license reciprocityFlorida has no reciprocity agreements. Out-of-state contractors are required to pass the Florida examination for certification. More info here. There is a provision for certification by endorsement; however, it requires that the applicant demonstrate that his/her out-of-state license was issued based upon an examination that is substantially equivalent to Florida's examination.