We offer all inclusive business & finance exam prep courses for contractor licensing in Florida.
Overview
CEI's business & finance exam preparation courses are all-inclusive, with nothing more to buy and no extra hidden costs. CEI refuses to sell "Optional" study products, because if something is important to passing the exam, then it should automatically be included in your exam preparation program. We guarantee you will pass with our training.
CEI Exam Preparation Program Features:
- Head Start folder—begin preparing immediately
- Current test questions
- Easy online learning program
- Practice questions for each book required for your Business & Finance Exam
- Business & Finance practice exams (computer-based, just like the real exam)
- Toll-free phone access to instructors for questions
- Two days of classroom training with a licensed instructor (with purchase of live course)
100% One Year Course Guarantee
Students receive access to their course for a full year from the date of their registration!
Preparing for the Business and Finance exam in Florida
Exam Details
Exam Details - What to Expect
The Business and Finance Examination consists of 120 test questions. Candidates are allowed 6 ½ hours to complete the exam. The exam will be administered via computer. The Department of Business and Professional Regulation has retained the services of Pearson VUE to schedule, administer, score and report the results of this exam.
The exam will be administered on an electronic testing system. The testing system eliminates the use of paper, pencil and answer sheets. Candidates input their responses by entering the answer of their choice (A, B, C or D). A score of seventy percent (70%) or better on the exam is required to achieve a passing score.
The exam questions cover the content areas listed below:
Content Area A: Establishing the Contracting Business
- knowledge of business structure laws and regulations
- knowledge of fiduciary responsibilities of officers and directors
- knowledge of open vs. closed corporations
- knowledge of organizational charts and chain of responsibilities
- knowledge of state and local licensure requirements
- knowledge of tax advantages and/or liabilities for various business structures
- knowledge of accounting practices
- knowledge of local marketplace
- knowledge of scope of contractor license
- knowledge of accountant specialization
- knowledge of attorney specialization
- knowledge of insurance types and limitations
- knowledge of underwriting requirements for bonding
- knowledge advantages/disadvantages of business location
- knowledge of advantages/disadvantages of lease vs. purchase
- knowledge of accounting practices
- knowledge of advantages/disadvantages of various types of insurance
- knowledge of coverages and limitations of insurance
Content Area B: Managing Administrative Duties
- knowledge of availability of staffing for business operation
- knowledge of income sources
- knowledge of markets and market share
- knowledge of FICA
- knowledge of advertising costs (business cards, dues, printing, etc.)
- knowledge of communication costs (cell phones, land lines, etc.)
- knowledge of cost of sales (travel expenses)
- knowledge of federal unemployment (FUTA)
- knowledge of general liability rates
- knowledge of lease expenses knowledge of loan financing expenses (interest, etc.)
- knowledge of Medicare rates
- knowledge of rent costs
- knowledge of state unemployment (SUTA)
- knowledge of utility costs
- knowledge of worker’s compensation
- knowledge of accounting principles
- knowledge of AIA documents
- knowledge of business projections/goals current status
- knowledge of company overhead
- knowledge of contract documents
- knowledge of contract law
- knowledge of cost of financing projects
- knowledge of costs associated with growth
- knowledge of general conditions costs of projects
- knowledge of how to review contracts
- knowledge of how to write offer
- knowledge of insurances associated with labor rates
- knowledge of labor productivity
- knowledge of statute of frauds
- knowledge of taxes associated with labor rates
- knowledge of components of valid contract
- knowledge of depreciative costs
- knowledge of fundamentals of Uniform Commercial Code
- knowledge of inventory system operation (FIFO, etc.)
- knowledge of invoice approval systems
- knowledge of negotiating skills
- knowledge of purchasing systems
- knowledge of receiving systems
- knowledge of state sales tax laws
- knowledge of statute of frauds
- knowledge of vendors in area
- knowledge of basic math skills
- knowledge of calculation of percentage of work completed
- knowledge of contract/subcontract documents
- knowledge of how to prepare invoices/draw requests
- knowledge of lien laws
- knowledge of drug testing regulations
- knowledge of MSDS sheets
- knowledge of OSHA regulations
- knowledge of general terms and definitions used in policies
- knowledge of insurance policies
- knowledge of limits of insurance
- knowledge of various types of insurance
- knowledge of various types of risk
- knowledge of contract law
- knowledge of contract scope
- knowledge of job completion schedules
- knowledge of lien laws
- knowledge of mediation and arbitration processes
- knowledge of local building code requirements
- knowledge of tort law
- knowledge of risk management
Content Area C: Managing Trade Operations
- knowledge of critical path method (CPM)
- knowledge of delivery times
- knowledge of manufacturing times
- knowledge of requests for information (RFI)
- knowledge of sequencing trades
- knowledge of submittals/approval/fabrication process
- knowledge of document/record retainage requirements
- knowledge penalties for non-compliance with OSHA
- knowledge of accounting skills
- knowledge of basic math skills
- knowledge of job schedules
- knowledge of negotiation skills
- knowledge of organizational skills
- knowledge of plan reading skills
- knowledge of quality control
- knowledge of quantity take-offs
- knowledge of terms and abbreviations on invoices
- knowledge of types of building materials
- knowledge of cost of operation of equipment
- knowledge of depreciation
- knowledge of equipment operation
- knowledge of forecasted use of purchased equipment
- knowledge of interest costs for financing
- knowledge of maintenance
- knowledge of salvage resale values
- knowledge of support equipment required for equipment
- knowledge of tax credits associated with purchases
- knowledge of training needs for equipment
- knowledge of transportation costs for equipment
- knowledge of equipment maintenance procedures
- knowledge of inventory methods
Content Area D: Conducting Accounting Functions
- knowledge of accounting principles
- knowledge of basic math skills
- knowledge of computer skills
- knowledge of lien laws
- knowledge of accounting principles
- knowledge of basic math skills
- knowledge of computer skills
- knowledge of how to calculate discounts
- knowledge of lien laws
- knowledge of accounting
- knowledge of banking
- knowledge of basic math skills
- knowledge of financial ratios
- knowledge of accounting principles
- knowledge of basic math
- knowledge of federal tax laws
- knowledge of property tax laws
- knowledge of record keeping requirements
- knowledge of sales tax laws
- knowledge of state tax laws
- knowledge of accounting principles
- knowledge of basic math
- knowledge of accounting
- knowledge of state & federal tax laws
- knowledge of basic math
- knowledge of employment laws
- knowledge of employment/labor laws
- knowledge of hierarchy of garnishments
Content Area E: Managing Human Resources
- knowledge of employment laws
- knowledge of discrimination laws
- knowledge of interviewing skills
- knowledge of required forms for new hires
- knowledge of background checks
- knowledge of employment/labor laws
- knowledge of OSHA
- knowledge of chain of custody (drug tests)
- knowledge of insurance regulations
- knowledge of employment/labor laws
- knowledge of FEMA (immigration components)
- knowledge of OSHA
- knowledge of tax laws
- knowledge of National Pollution Discharge Elimination System (NPDES)
- knowledge of environmental laws
- knowledge of Chapter 455 F.S.(Business & Professional Regulation)
- knowledge of Chapter 713 F.S. (Liens)
- knowledge of 61G4 F.A.C.
- knowledge of Worker’s Compensation Laws/DOR Sales/Use Tax
- knowledge of Chapter 489, Part 1 F.S (Construction Contracting)
- knowledge of required continuing education
- knowledge of CEU credit records
- knowledge of license holder responsibilities
We have all the books required for the Business and Finance exam.
Exam Books
Book set includes all references required for the Business & Finance exam:
- AIA Documents: (A-201, A-401, A-701)
- Builder's Guide to Accounting
- Florida Contractor's Manual
- Florida Statutes Chapter 455
We offer in-person live classes in multiple Florida locations.
Live Classes
Locations
Sarasota, FL - CEI
CEI
5016 Calle Minorga
Sarasota, FL 34242
Orlando, FL - Spring Hill Suites
Spring Hill Suites by Marriott
5828 Hazeltine National Drive
Orlando, FL 32822
Fort Lauderdale, FL
Tamarac Campus of GoldCoast
5600 Hiatus Road
Tamarac, FL 33321