- 50 scored questions, two hours, 70% (35 correct) to pass - open-book, computer-delivered via PSI.
- Estimating and Bidding is the heaviest domain at seven questions; Contracts follows at six.
- Exam fee is $120 per portion per attempt; two portions together cost $240.
- Only the NASCLA Contractors Guide - Mississippi 6th Edition (effective 10/1/2023) may be tabbed and highlighted, no handwritten notes.
Quick Facts Snapshot
If you only have five minutes before you walk into a PSI testing center, this is the page to reread. The Mississippi Law and Business Management Examination (MS-LBM) is administered by PSI Services LLC on behalf of the Mississippi State Board of Contractors (MSBOC). It is not a stand-alone credential - it's the required business-and-law portion that pairs with a trade exam for commercial and residential contractor licensing in Mississippi. For a broader orientation, see What Is MS-LBM? and MS-LBM Meaning.
Exam Format at a Glance
MS-LBM is a computer-delivered, open-book exam consisting of 50 scored questions to be completed in two hours. You need a 70% passing score, which works out to 35 correct answers. PSI's April 23, 2026 bulletin also permits PSI to insert between one and ten additional unscored experimental (pretest) questions - these count against your two-hour clock even though they aren't graded, so don't assume every question you see is worth points.
| Element | Detail |
|---|---|
| Testing provider | PSI Services LLC |
| Scored questions | 50 |
| Time allotted | 2 hours |
| Passing score | 70% (35 correct) |
| Unscored questions | Up to 10 experimental items, time-inclusive |
| Format | Open-book, computer-delivered |
| Fee per portion/attempt | $120 (retakes included) |
Because the exam is timed and open-book, speed of reference lookup matters as much as raw memorization. For a deeper breakdown of question style and difficulty expectations, read How Hard Is the MS-LBM Exam? Complete Difficulty Guide 2026.
11 Domains Ranked by Weight
PSI's official subject allocation spreads 50 questions across 11 domains. Knowing the weight of each domain lets you triage your remaining study time instead of treating all topics equally.
Domain 2: Estimating and Bidding - 7 questions (largest domain)
The single biggest content area. Expect scenario questions on takeoffs, markup, overhead allocation, and bid comparisons.
- Understand how material, labor, and overhead combine into a bid
- Know common estimating errors that cause underbidding
Domain 8: Contracts - 6 questions (second largest)
Covers contract types, clauses, change orders, and termination provisions used on Mississippi construction jobs.
- Differentiate lump-sum, cost-plus, and unit-price agreements
- Recognize valid modification and change-order language
The remaining nine domains - Licensing, Lien Law, Financial Management, Tax Laws, Labor Laws, Project Management, Business Organization, Risk Management, and Environmental and Safety - round out the other 37 questions. None of these carry Estimating and Bidding's weight individually, but together they represent the majority of the exam, so skipping them is not an option. A full walkthrough of each domain's scope lives in MS-LBM Exam Domains 2026: Complete Guide to All 11 Content Areas.
Key Takeaway
Spend proportionally more review time on Estimating and Bidding and Contracts, but never skip the smaller domains - 37 of the 50 questions still come from them.
Fees and Eligibility Numbers
Money and paperwork trip up more candidates than the content itself. Here's what to budget and prepare before you ever see a PSI login screen.
- Exam fee: $120 per portion per attempt, including retakes. Two portions together cost $240.
- State application fee: $400 for a commercial classification or $50 for a residential classification, per trade classification.
- Eligibility window: Once MSBOC approves your application and notifies PSI, you have six months to test, with unlimited paid retakes inside that window before you must reapply.
- Qualifying party: Must be an owner, officer, or responsible managing employee of the applying business.
- Documentation: Relevant classification experience, at least three completed-job examples, and three reference letters - one bank reference plus two construction-related references.
- Commercial-only add-ons: CPA-reviewed or audited financial statements, minimum net worth of $50,000 for major classifications or $20,000 for others, plus applicable insurance and business/tax registrations.
For the full cost picture, including how commercial and residential paths diverge, see MS-LBM Certification Cost 2026: Complete Pricing Breakdown, and for a step-by-step eligibility walkthrough see MS-LBM Requirements 2026: Eligibility, Prerequisites & How to Qualify.
What You Can Bring Into the Room
MS-LBM is open-book, but "open-book" has strict rules. The single tested reference is the NASCLA Contractors Guide to Business, Law and Project Management - Mississippi, 6th Edition, effective October 1, 2023. Bringing the wrong edition, or over-marking the right one, can cost you valuable time or get materials rejected at check-in.
| Allowed | Not Allowed |
|---|---|
| Pre-exam highlighting | Handwritten notes in the margins |
| Underlining | Loose or attached papers/inserts |
| Permanent tabs | Temporary tabs (sticky flags, removable markers) |
| Silent, nonprinting, nonprogrammable calculator | Programmable or printing calculators, phones |
Build your tabbing system around the domain weights above - a thick permanent tab for Estimating and Bidding formulas and Contracts clauses saves seconds you'll need elsewhere on the clock. If you're still assembling your reference materials strategy, MS-LBM Study Guide 2026: How to Pass on Your First Attempt covers how to mark up the NASCLA guide efficiently before test day.
One-Week Cram Schedule
This isn't a generic productivity template - it's built around MS-LBM's actual question distribution so your final week maps directly to points on the exam.
Estimating and Bidding + Contracts
- Rework markup, overhead, and bid-comparison problems until they're automatic
- Tab every contract clause example in the NASCLA guide with permanent tabs
Licensing, Lien Law, Financial Management, Tax Laws
- Review MSBOC licensing thresholds and lien filing deadlines
- Practice net-worth and financial statement scenario questions
Labor Laws, Project Management, Business Organization, Risk Management, Environmental and Safety
- Skim each domain's key terms once, then do timed mixed-domain drills
- Rehearse calculator-based questions under the two-hour clock
Full Simulation
- Take a complete 50-question timed practice run on the main practice test platform
- Review misses by domain, not just by question number
Key Takeaway
Front-load Estimating and Bidding and Contracts - together they're 13 of 50 questions - then sweep the remaining nine domains before a full timed simulation.
Candidates who want the score-specific math behind "how many can I miss" should read MS-LBM Passing Score 2026: Exactly What You Need to Pass, and those still deciding whether to test soon or wait should check MS-LBM Exam Dates 2026: Testing Windows, Deadlines & Scheduling for scheduling logistics through PSI.
After You Pass: Licensing and Renewal
Passing MS-LBM is a checkpoint, not the finish line - it clears the business-law requirement so your trade exam and application can move toward an actual contractor license. Once licensed, renewal is annual: $400 for commercial or $100 for residential. Active residential qualifying parties on licenses issued on or after July 1, 2015 must also complete two approved continuing education hours annually to stay current.
- Prep courses beyond self-study are optional, not required by MSBOC
- A responsible managing employee status ties your qualification to a specific business entity
- Reciprocity, where it applies, only waives eligible trade exams - not MS-LBM
Curious who actually hires people around this credential, or what daily work looks like for contractors clearing this exam? See MS-LBM Jobs and MS-LBM Salary Guide 2026: Complete Earnings Analysis. If you're weighing whether the licensing path is worth the time and fees, Is the MS-LBM Certification Worth It? Complete ROI Analysis 2026 lays out the tradeoffs, and MS-LBM Pass Rate 2026: What the Data Shows covers what's publicly known about outcomes.
For newcomers piecing this all together for the first time, start with MS-LBM Certification, What Is A MS-LBM?, and What Is MS-LBM Certification?, then move into structured prep through MS-LBM Training or timed practice sets on our practice test platform.
FAQ
There are 50 scored questions to complete in two hours. PSI may add up to 10 unscored experimental questions per its April 2026 bulletin, and those count against your time even though they aren't graded.
You need 70%, which is 35 correct answers out of the 50 scored questions.
No. You may highlight, underline, and use permanent tabs in the official NASCLA Contractors Guide - Mississippi 6th Edition, but handwritten notes, loose papers, and temporary tabs are prohibited.
Each portion costs $120 per attempt, including retakes, so both portions together run $240. This is separate from the MSBOC state application fee of $400 commercial or $50 residential.
You lose your approved eligibility and must reapply to MSBOC. Within the six-month window itself, retakes are unlimited as long as you pay the $120 fee each time.