AIA Documents on the Florida Business and Finance Exam: A201, G702, and G703 Breakdown

When candidates sit for the Florida Construction Industry Licensing Board (CILB) Business and Finance exam at Pearson VUE, they expect questions on Florida construction lien law, bookkeeping ratios, and DBPR licensing statutes. What blindsides dozens of unprepared test-takers every month is the dense cluster of contract administration questions pulled directly from the American Institute of Architects (AIA) contract documents.

The AIA family of documents serves as the gold standard for commercial and institutional construction across the United States. In the Florida contractor examination, the CILB tests your command of standard contract relationships, payment application mechanics, retainage calculations, change order approvals, and dispute resolution workflows.

If you don't know the exact division of responsibilities between Owner, Architect, and Contractor, or if you fumble through AIA Document A201 during a timed 6.5-hour exam, you leave easy points on the table. In this guide, License Fix School breaks down the essential AIA documents tested on the Florida Business & Finance exam, the exact formulas tested on payment applications, and how to navigate these references with surgical speed.

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Which AIA Documents Are Tested on the Florida B&F Exam?

The reference list approved by the DBPR and Pearson VUE specifically incorporates three primary AIA contract instruments:

1. AIA Document A201 (General Conditions of the Contract for Construction): The umbrella legal framework defining rights, obligations, dispute procedures, and administrative duties of all project participants.
2. AIA Document G702 (Application and Certificate for Payment): The formal contractor payment requisition form submitted periodically (usually monthly) to certify completed work and stored materials.
3. AIA Document G703 (Continuation Sheet / Schedule of Values): The detailed itemized breakdown supporting the G702, listing individual work lines, scheduled values, retainage rates, and completion percentages.

Let's examine how each document is tested and what traps exam writers love to set.

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1. AIA Document A201: The Core General Conditions

A201 is not a light read. It is a legal framework with 15 distinct articles. On the Business and Finance exam, questions about A201 focus heavily on authority boundaries, payment withholding rights, and claims deadlines.

Key A201 Provisions Tested Repeatedly:

• The Architect's Role as Initial Decision Maker (IDM): Under Article 15, claims and disputes must first be referred to the Initial Decision Maker (who is typically the Architect unless specified otherwise in the agreement) before mediation or litigation. The IDM has 10 days to take preliminary action.
• Review and Approval of Shop Drawings: Under Section 3.12, the contractor reviews and approves shop drawings and submittals before passing them to the architect. The architect's approval does NOT relieve the contractor of responsibility for errors or deviations from contract documents unless the contractor gave explicit written notice of the deviation.
• Contractor's Warranty: Section 3.5 establishes that work will be free from defects and conform to contract documents. This warranty excludes damage caused by abuse, alterations not executed by the contractor, improper maintenance, or normal wear and tear.
• Right to Stop Work for Non-Payment: Under Section 9.7, if the architect fails to issue a certificate for payment within 7 days after receiving the contractor's application, or if the owner fails to pay within 7 days after the date established in the contract, the contractor may, upon 7 additional days' written notice, stop work until payment is received.
• Notice of Concealed or Unknown Site Conditions: Under Section 3.7.4, if subsurface physical conditions differ materially from those indicated in the contract, the contractor must provide written notice to the owner and architect within 14 days after first observing the conditions and before they are disturbed.

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2. AIA Documents G702 & G703: Payment Applications and Retainage Math

While A201 generates reading-comprehension questions, G702 and G703 generate pure arithmetic questions. You will be asked to compute total completed and stored to date, retainage deductions, net payment due, and balance to finish.

Anatomy of Form G702 (Lines 1 through 9):

• Line 1: Original Contract Sum: The initial agreed lump-sum or GMP figure.
• Line 2: Net Change by Change Orders: Net additions or deductions approved to date.
• Line 3: Contract Sum to Date: Line 1 plus or minus Line 2.
• Line 4: Total Completed and Stored to Date: The sum of all work completed plus materials currently stored on-site (and off-site if approved). This total feeds directly from Column G of Form G703.
• Line 5: Retainage:
  • 5a: Percent of completed work retained (e.g., 10% of Column D + E from G703).
  • 5b: Percent of stored material retained (e.g., 10% of Column F from G703).
  • Total Retainage = Line 5a + Line 5b.
• Line 6: Total Earned Less Retainage: Line 4 minus Line 5.
• Line 7: Less Previous Certificates for Payment: Total amount certified on the immediate preceding application (Line 6 from previous pay app).
• Line 8: Current Payment Due: Line 6 minus Line 7.
• Line 9: Balance to Finish, Including Retainage: Line 3 minus Line 6.

Exam Calculation Walkthrough:

Sample Exam Question:
A contractor is submitting Pay Application #4. The contract sum is $450,000. Total completed and stored work to date across all line items is $280,000. Retainage is agreed at 10% on completed work and materials. The previous certificate for payment (Pay App #3) approved an earned amount less retainage of $198,000. What is the Current Payment Due on Line 8?

Step-by-Step Solution:

1. Total Completed & Stored (Line 4) = $280,000
2. Retainage (10% of $280,000) = $28,000
3. Total Earned Less Retainage (Line 6) = $280,000 - $28,000 = $252,000
4. Less Previous Certificates (Line 7) = $198,000
5. Current Payment Due (Line 8) = $252,000 - $198,000 = $54,000

Candidates who rush through this math without writing down each line often mistakenly subtract the previous retainage or apply retainage to Line 8 instead of Line 4. Knowing the form structure by heart saves you 3 to 5 minutes on every pay application problem.

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3. Top Test-Day Pitfalls on AIA Questions

1. Confusing Stored Materials With Completed Work: Stored materials (Column F on G703) represent inventory purchased and delivered to the jobsite but not yet installed. Some contracts stipulate different retainage rates for stored materials versus installed labor. Always read the question stem carefully to see if retainage applies equally to both.
2. Missing the 21-Day Claim Window: In A201 Section 15.1.3.1, claims by either party must be initiated within 21 days after occurrence of the event giving rise to such claim or within 21 days after the claimant first recognizes the condition. This 21-day timeline is one of the most frequently tested numbers on the entire exam.
3. Substantial Completion vs. Final Completion: Under A201 Section 9.8, Substantial Completion is the stage when the work is sufficiently complete so the owner can occupy or utilize the space for its intended use. This triggers the contractor's preparation of the punch list (comprehensive list of items to be completed or corrected), shifts utility and insurance responsibilities to the owner, and stops the clock on liquidated damages.

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How License Fix School Guarantees Your Pass

Mastering contract administration is not about memorizing all 40 pages of small-print legal boilerplate. It is about understanding the commercial mechanics of construction and knowing where the index and margin notes lead in your tabbed binder.

At License Fix School, our Florida Business & Finance exam prep course provides:

• Pre-tabbed and highlighted AIA document references.
• Interactive practice quizzes covering every G702/G703 math variation.
• Step-by-step video breakdowns with licensed Florida contractor instructors.

Don't let contract questions jeopardize your testing cycle. Explore our Florida contractor exam prep courses today and pass with confidence on your very first attempt.