Florida Contractor Practice Exam

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Prepare for the Florida Contractor Exam with practice tests featuring multiple choice questions and answers. Enhance your knowledge to succeed in various categories of contractor licensing in Florida.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If an installment of Workers' Compensation payable without an award is delayed, what additional percentage should be added to the payment?

12%, $5.00 min.
20%
10%
A and B

The correct answer is: A and B

In Florida, when a Workers' Compensation payment is delayed without an award, the law specifies that an additional percentage should be added to the delayed payment to compensate for the timing of the payment. This additional amount acts as an incentive for timely payments and holds employers accountable for any delays. The correct answer includes both 12% with a minimum payment of $5.00 as well as the 20%, making it important to understand the specifics of each. The 12% is in alignment with the state regulations intended to apply when there is a delay, ensuring that workers receive fair compensation for the time they did not receive payment. The minimum amount ensures that even small payments that are delayed will receive some additional compensation. The inclusion of 20% in the answer reflects broader provisions that cover certain types of missed payments, contributing to the overall willingness of employers to settle claims promptly. The options for extra compensation familiarize students with the various statutory requirements, allowing them to better navigate the complexities of Workers' Compensation regulations in Florida. Understanding these percentages aids contractors, insurance adjusters, and other professionals in ensuring compliance with the law and effectively managing compensation claims.