Book updated May 2024. In South Carolina, it is the Licensing Board for Contractors that processes all licensing issues. All Commercial and Mechanical Contractors except Fire Alarm and Burglar Alarm Contractors need to pass the Business and Law Exam in addition to their trade exam in order to be granted a license. The topics covered by the exam include Business Management, Estimating and Bidding, Contracts and Agreements, Project Management, Insurance and Bonding, Safety Record keeping and Reporting, Labor Laws and Employment Regulations, Financial Management, Tax Laws, Liens, Environmental Laws and Regulations. The exam covers a wide range of fundamental topics but this study notes will focus on topics related to accounting, finance, purchasing, cost control, human resources and the rules/regulations related to the building and construction profession. There is no way you can pass the exam without having solid real world experience. Our notes give you knowledge, principles and concepts. To master the topics, you must be “in the field” – you need to go through the real world plans, the various contract documents and the various administrative paperworks all by yourself. And you need to know how the experts get things done. To succeed in the exam, you also need to read as many reference books as possible. There is no single book that can cover everything!
