Tennessee Contractor Residential and Small Commercial Online Exam Prep Complete Package

Description, benefits & features

This course is made up of a detailed presentation that takes you through all the information you will need to pass the exam on your first try.

@HomePrep offers this package to prepare you for the Tennessee Residential/Small Commercial Contractor License Exam as well as the Business and Law Exam. This online course will guide you through highlighting and tabbing the associated exam books for fast and easy reference during the test. This package includes all required reference books by license type, associated tabs and access to our online course for extra review. This course is taught by a construction industry expert with over 30 years’ practical experience in the construction trades.

This license allows the holder to construct, remodel, repair, or improve 1, 2, 3, or 4 family unit residences not exceeding 3 stories in height and accessory use structures, as well as commercial construction up to $500,000 total cost per job. A license is required for jobs over $25,000.

How Do I Get My License?

1. Purchase the Exam Prep Course — and then study!
2. Pass the exam.
3. Submit your application, licensing fee and proof of insurance.

Requirements To Get A License

The first step in the licensing process is to pass the exams. You will then submit an application to the state licensing board with required documentation.

• The Business and Law exam is required for licensure in every Contractor classification
• The monetary limit (limit per contract) is based on 10 times the lesser of the net worth or working capital or experience. (Working capital is current assets minus current liabilities and net worth is total assets minus total liabilities).
•  A reviewed financial statement is required for monetary requests of $3,000,000 or less.
• A CPA audited financial statement is required for monetary requests exceeding $3,000,000. To obtain an unlimited license, applicants must have over $300,000 in both net worth and working capital.
• All contractors with 1 or more employees are required to carry Worker’s Compensation insurance. Every applicant will be required to provide a certificate of insurance proving an adequate amount of general liability insurance.