# Experience, Financials, Bonding & Insurance
Passing exams isn't enough — states also check that you're **qualified and financially sound**.
## Experience
Many states require **documented years of experience** (often as a journeyman, foreman, or qualifying party). You may need references or verification from past employers.
## Financials
Some states require **financial statements**, minimum net worth, or working capital — especially for higher license limits.
## Bonding
- A **license/permit bond** is commonly required just to **hold the license** (protects the public/state).
- Separately, **project bonds** (bid/performance/payment) are required on many jobs (see the Bonds course).
## Insurance
**General liability** and (where employees exist) **workers' compensation** are typically required. Keep certificates current.
## The takeaway
A license application is a package: exams **plus** experience, financials, bond, and insurance. Assemble it all before you apply.
**Takeaway:** A license application is a package: exams plus experience, financials, bond, and insurance.
> *Educational content — not legal, accounting, or licensing advice. Rules vary by state and change; verify with the licensing board and a CPA.*
