Contractor License Exam 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 400

If a customer cancels their transaction, how long does the seller have to return property traded in and money exchanged?

5 business days

10 business days

The seller is required to return property traded in and money exchanged within 10 business days following a customer's cancellation of the transaction. This timeframe is designed to protect consumers by ensuring prompt resolution in instances where a transaction is canceled, allowing them to retrieve their property and funds in a timely manner.

Understanding this timeline is particularly crucial for contractors and service providers, as it helps them maintain good customer relations and comply with consumer protection regulations. Knowing the specific duration aids in adhering to legal obligations, thereby avoiding potential disputes or penalties. The other options, while they reflect varying lengths of time, do not align with the established requirement for this particular situation.

Get further explanation with Examzify DeepDiveBeta

15 business days

30 business days

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy