Tennessee Business and Law Exam

	Requirements to Obtaining your License. A contractors License in Tennessee is required for projects that exceed $25,000. Anyone seeking to become a contractor in Tennessee is required to sit for two exams, business and law and the trade. Please note that the Limited Licensed Electrician and the Limited Licensed Plumberclassifications do NOT require the business and law exam to be passed. Workers Compensation is required General liability insurance requirements are based on your monetary limit. If your monetary limit is up to $500,000, you will need to provide $100,000 coverage. If your monetary limit is $500,001 - $1,500,000, you will need to provide $500,000 coverage. If your monetary limit is greater than $1,500,000 you will need to provide $1,000,000 coverage.
	Work that can be Done Under this License There are many classifications of licensure that can be obtained by passing only this exam. For example, you could obtain a license in roofing, gas piping, painting, carpentry, masonry, and so forth.
	Applying to get your License An application for licensure can be obtained from the Tennessee Board for Licensing Contractors by calling 1-800-544-7693. The licensing and application fee is $250.00.
	Reciprocity Agreements Tennessee has limited reciprocity agreement with the following states: Alabama, Arkansas, Louisiana, Mississippi, North Carolina and South Carolina.
	Continuing Education There are no requirements for continuing education as of this time.
	Exam Details The testing company is PSI (1-800-733-9267) 50 questions and an 2-hour time limit 73% is required to pass the exam The exam fee is $44. Topics on the exam include licensing requirements, estimating and bidding, business organization and financial management, tax laws, labor laws, project management and lien law, contractors, risk management, and environment and safety.
	Books and References for the Exam The following reference is permitted to be taken into the examination. This reference may be tabbed (with a permanent index tab) and highlighted. It is available for purchase from our online contractor’s bookstore or by calling our office at 1-800-952-0910. Tennessee Contractors Guide to Business and Project Management
	Exam Review, Training, Education Live Seminar: The seminar is 1/2 day and the fee is $95. At class, students will receive a study guide includes sample questions, practice math problems, and a highlighting guide for the approved reference. For more information on either attending a seminar, or to order, contact our office at 1-800-952-0910. Our online training is now included with every seminar. Online Training: Each time you take the practice test, the questions our randomly generated from our database so you never see the same test twice. Topics in this review include bidding and estimating, contract management, liens, tax basics, insurance and bonding, scheduling and project management, employee management, financial management, and much more. Reference Books: Having the right references for the test is just as important as having the right tools on the job. We offer the best pricing for the state approved references, click the link below to order or call 1-800-952-0910. Online Class Price: $69 Seminar Price: $95