Florida Business & Financial Management Exam: free practice test
Part one of every Florida Division I license (General, Building, Residential) and required for Division II trades too. Built on the Florida Contractors Manual, Florida lien law (Chapter 713), Chapter 489 and payroll and accounting basics.
About the Florida Business & Finance exam
Part one of every Florida Division I license (General, Building, Residential) and required for Division II trades too. Built on the Florida Contractors Manual, Florida lien law (Chapter 713), Chapter 489 and payroll and accounting basics.
What's on the exam
Each branch is a topic in the official outline. Members see every key fact on the full mind map. Read the free study guide →
How to pass the Florida Business & Finance exam
- Lien law is worth the most easy points. Memorize 45 / 90 / $2,500 and the final payment affidavit timing.
- You have about 3 minutes per question. Don't fully read the manual; use the index.
- Accounting math (ratios, depreciation, break-even) shows up every sitting.
Save your results and get your Readiness Score
Create a free account after the test: your score by topic, a mistakes bank, the first study-notes topic, flashcards and the Construction Math Formula Sheet.
What's in the full Florida Business & Finance prep
Full question bank
600+ exam-style questions written to each official outline. Every answer explained, with the rule it comes from.
Timed exam simulator
Real question counts and time limits, so test day feels like practice day.
Exam Readiness Score
One 0 to 100 number that tells you when you're ready to book. Reach 80 and you're covered by our Pass Guarantee.
Flashcards + spaced repetition
530+ cards that come back right before you'd forget them. Five minutes a day keeps every number fresh.
Key study notes
Each topic boiled down to the 5 to 7 facts that get tested, with the statute or code section.
Mind maps
See the whole exam on one screen: every topic and the facts under it.
Sample questions with answers
These are the questions in the free test above, with answers. Try the test first. You'll learn more by getting some wrong.
1. Under Florida's Construction Lien Law, a lienor not in privity with the owner must serve a Notice to Owner no later than:
2. A claim of lien in Florida must be recorded within how many days after the final furnishing of labor, services or materials?
3. A Notice of Commencement is generally required before the first inspection when the direct contract price for an improvement exceeds:
4. Unless a different date is stated, a Florida Notice of Commencement expires:
5. A contractor must give the owner a final contractor's affidavit at least how many days before filing an action to enforce a lien?
6. Florida residential contracts over $2,500 must include a written statement explaining the consumer's rights under the:
7. A Florida certified contractor's license number must appear on:
8. In the Florida construction industry, workers' compensation coverage is required for employers with at least:
9. Florida reemployment (unemployment) tax applies to the first how much of each employee's wages per year?
10. Florida's statute of repose for actions founded on the design, planning or construction of an improvement is generally:
11. Total revenue is $1,200,000, cost of goods sold is $900,000 and overhead is $200,000. What is the net profit before tax?
12. Which financial statement shows a company's assets, liabilities and owner's equity at a single point in time?
13. Fixed overhead is $120,000 per year. Each job contributes 20% of its revenue toward overhead and profit. What revenue is needed to break even?
14. Total employer plus employee FICA (Social Security and Medicare) on wages below the Social Security wage base is:
15. A Florida contractor who qualifies a business entity is known as the:
Get the full Florida Business & Finance prep
Single Exam
- Full Florida Business & Finance bank (50 questions)
- Timed exam simulations
- Study notes, flashcards & mind maps
- Spaced repetition + mistakes bank
- Readiness Score & detailed reports
- Video lessons as they release
- 5 bonuses: formula sheet, tabbing guide, study planner and more
- Pass Guarantee + 7-day refund
All-Access
- All 12 exams, including state Business & Law
- Full question banks + timed simulations
- Study notes, flashcards & mind maps
- Spaced repetition + mistakes bank
- Readiness Score & detailed reports
- Video lessons as they release
- New exams added during your access
- 5 bonuses: formula sheet, tabbing guide, study planner and more
- Pass Guarantee + 7-day refund
Licensing guide
How to Get a Contractor License in Florida (2026): To get a statewide Florida contractor license, you prove 4 years of experience (or a mix of college and experience), pass the state exams, and apply to the Construction Industry Licensing Board (CILB) through DBPR with a credit report, insurance, workers' comp and fingerprints. General, building and residential contractors (Division I) must pass three open-book exams: Business and Finance, Contract Administration and Project Management. Expect the full process to take a few months once your experience is in place.
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Exam details are summarized from the official candidate information available in October 2026. Boards change formats and fees, so confirm with Florida Construction Industry Licensing Board (CILB) before you book. ContractorConquer is not affiliated with any licensing board or testing company.