01
Licensing Requirements
The $25,000 license trigger, the 9 major classifications, the monetary-limit formula and 10% tolerance, qualifying agents, renewals, and discipline.
Contractor exam study guide
AvailableTennessee Business and Law Study Guide
Tennessee contractor business and law, organized for the open-book exam.
An 87-page independent study aid for the Tennessee Board for Licensing Contractors Business and Law Management Examination, administered by PSI. It follows the official 9-area content outline across all 50 questions, with 150 practice questions and cited explanations. Content was verified against Tennessee primary sources in September 2026: the Tennessee Code Annotated, the Board for Licensing Contractors rules, and the PSI Candidate Information Bulletin (revised 4/15/2026). Because the exam is open book with the NASCLA Tennessee 4th Edition as the only allowed reference, the guide includes a tabbing map and an open-book strategy built around finding answers fast under time pressure.
What is inside
Organized the way the exam tests it.
02
Estimating and Bidding
Bid-envelope disclosure, the 48-hour correction window, public-works payment bonds, the Prompt Pay Act, and the 5% retainage cap.
03
Business Organization and Financial Management
Business structures and liability, registered agents, annual reports, financial statements, the monetary-limit formula, and trust-fund duties.
04
Tax Laws
Sales and use tax, business tax, franchise and excise tax, payroll taxes, and the fact that Tennessee has no state income tax.
05
Labor Laws
Workers' compensation requirements, unemployment insurance, child labor rules, right-to-work, and the drug-free workplace credit.
06
Project Management and Lien Law
Lien recording deadlines, notices of nonpayment, notices of completion, retainage escrow, and lien priority.
07
Contracts
Mandatory home improvement contract contents, the deposit cap, the Consumer Protection Act, the cooling-off rule, and statutes of limitation and repose.
08
Risk Management
General liability minimums tied to the monetary limit, the home improvement bond, auto liability minimums, and public-works bonds.
09
Environmental and Safety
TOSHA fall protection and excavation rules, injury reporting, the construction stormwater permit, lead-safe work, Tennessee 811, and asbestos.
Fit check
Built for exam day, honest about limits.
A strong fit for
- Applicants preparing for the Tennessee Business and Law Management Examination
- Qualifying agents who need a refresher on Tennessee licensing and business rules
- Out-of-state contractors learning Tennessee-specific requirements
- Anyone who wants cited explanations, not just answer keys
Deliberately not included
- It is not affiliated with, endorsed by, or produced by the Tennessee Board for Licensing Contractors, PSI, or NASCLA
- It does not include trade exam content for any classification
- It does not replace the official statutes, Board rules, PSI publications, or legal advice
- It does not guarantee a passing score
Delivery
Three steps to your PDF.
- 01
Pay securely
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- 03
Download the PDF
Download the full study guide PDF. The link is single-use and expires shortly after it is issued.
Before purchase
Clear answers, up front.
Is this affiliated with the Tennessee Board for Licensing Contractors or PSI?
No. This is an independent study aid. It is not affiliated with, endorsed by, or produced by the Tennessee Board for Licensing Contractors, PSI, or NASCLA. Always verify current requirements against the PSI Candidate Information Bulletin and official sources before your exam.
What can I bring to the exam?
The exam is open book: the only allowed reference is the NASCLA Contractors' Guide to Business, Law and Project Management, Tennessee Edition, 4th Edition. You may highlight, underline, and index it with permanent tabs before the exam, but you may not write in it during the exam. A silent, nonprinting, nonprogrammable calculator is allowed. This guide includes a tabbing map so you can find answers fast under time pressure.
How was the content verified?
Every factual claim was checked against Tennessee primary sources: the Tennessee Code Annotated, the Board for Licensing Contractors rules, and the PSI Candidate Information Bulletin (revised 4/15/2026). Content was verified in September 2026, and where a figure was uncertain, the guide says so instead of guessing.
Does it cover the trade exam for my classification?
No. This guide covers the Business and Law Management Examination only. Trade exams are classification-specific and are not included.
How do I receive the guide?
After checkout, you get a secure access email with a sign-in link. Confirm on the site and download the PDF. The download link is single-use and expires shortly after it is issued; if it expires, email support from your checkout address and we will reissue access.
What is the refund policy?
Because this is a digital download, refunds are limited to duplicate purchases or failed delivery. If your download does not work, email support and we will fix it or refund you.
Independence disclosure
Read this before you buy.
Independent study aid. Not affiliated with, endorsed by, or produced by the Tennessee Board for Licensing Contractors, PSI, or NASCLA. The practice questions are original questions written in exam style, not real exam questions. Statutes and rules change; verify current requirements against the PSI Candidate Information Bulletin and official sources before your exam. This guide does not guarantee a passing score and is not legal advice.