The Tennessee Contractor Business and Law track on passvana has a Resources tab of quick-reference material built from the official exam outline and the state's own laws, with each fact checked against its source. Here is what is in it.
Tennessee Contractor Business and Law Exam
- Tables: Tennessee Contractor Business and Law Exam: Structure, Weights & Scheduling (free); Tennessee Licensing: Thresholds, Limits, Renewal & Penalties; Tennessee Mechanics' Lien Deadlines & Who Has Lien Rights; Tennessee Prompt Pay, Retainage, Public Bonds & Home Improvement Contracts
- Flashcard decks: Tennessee Contractor Business and Law Exam Quick Facts (free); Tennessee Licensing & Business Entity Numbers; Tennessee Workers' Comp, Bonds, Tax & Labor Numbers
A few checked facts worth knowing
- When a prime contractor needs a license When the total cost of the construction project is $25,000 or more. A prime contractor is one who contracts directly with the owner. (Tenn. Code Ann. 62-6-102(4)(A)(i), (7))
- License term Expires on the last day of the twenty-fourth month after issue or renewal. (Tenn. Code Ann. 62-6-116(a))
- Notice of nonpayment (non-residential) A remote contractor must serve it on the owner and the prime contractor within 90 days of the last day of each month in which it worked or supplied materials and was unpaid. Without it there is no lien, retainage excepted. (Tenn. Code Ann. 66-11-145(a)-(b))
- Escrow of retainage Required, in a separate interest-bearing account with a third party, when the prime contract is $500,000 or more. Failing to deposit it costs an additional $300 per day. (Tenn. Code Ann. 66-34-104(a), (c), (g), (h))
What is free to preview
Items marked free above can be opened by anyone. The rest come with the track, along with its full practice-question bank. For the exam format and passing score, see our Tennessee Contractor Business and Law exam cheat sheet.