Utah General Contractors - Business and Law Practice Exam

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Prepare for the Utah General Contractors Business and Law Exam with comprehensive study materials, including detailed quizzes and essential practice questions. Gain confidence and knowledge for a successful exam day!

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If a project’s total value exceeds what amount, must the builder file a one-time affirmation with the division?

$500
$1,000
$2,000
$5,000

The correct answer is: $1,000

The correct response reflects the requirement outlined in Utah's contracting regulations that mandates builders to file a one-time affirmation with the division when the total value of a project exceeds $1,000. This threshold is significant as it establishes a benchmark for ensuring that projects of a certain magnitude comply with necessary regulatory oversight and standards. When projects surpass this monetary limit, the filing serves to affirm the builder's commitment to adhering to legal and safety standards required for higher-value construction activities. This requirement is fundamental to protecting both consumers and builders, as it enhances accountability and ensures appropriate resources and regulations are applied to the project. The other options reflect lower amounts that do not trigger the need for such a filing. Therefore, acknowledging the $1,000 threshold is crucial for builders to ensure compliance with state requirements while engaging in larger construction projects.