1.What does the Small Business Administration do to ensure that small businesses get their fair share of government contracts?

Negotiate five year procurement preference goals with each federal agency

Dictate the annual procurement goals for each federal agency

Negotiate quarterly procurement goals for each federal agency

Negotiate annual procurement preference goals with each federal agency 2.What is one of the purposes of the Small Business program?

To set aside certain acquisitions exclusively for large contractors

To award certain acquisitions exclusively for sub-contractors

To set aside certain acquisitions exclusively for small businesses

To award certain acquisitions to prime contractors 3.What is considered a qualifying criteria for a small business concern?

Not dominant in the field of operation

Dominant in the field of operation

Dependently operated

Operate primarily outside the U.S. 4.Fill in the blank from the list of alternatives: "For acquisitions of supplies below _________ there is no requirement for you to set-aside the purchase."

$4,000

$2,000

$2,500

$10,000 5.When are federal purchase requirements over $250,000 set aside for small business participation?

When the requirement could be obtained from at least one small business concern and award will be made at fair market prices

When the requirement could obtained from more than three small business concerns and award will be made at fair market prices

When the requirement could be obtained from at least two small business concerns and award will be made at fair market prices

When the requirement could be obtained from more than two small business concerns and award will be made at lower than market prices 6.What is the policy of the United States regarding small business concerns, as stated explicitly by the Small Business Act?

Large businesses shall subcontract only with small business concerns.

Small business concerns shall have the maximum practicable opportunity to participate as only prime contractors.

Small business concerns shall be given a certain number of contract awards.

Small business concerns shall have the maximum practicable opportunity to participate in the performance of government contracts. 7.Government-wide small business goals are established by Congress and administered by the Small Business Administration (SBA). What system do agencies use to report their goal achievement to the SBA?

Federal Procurement Data System - Next Generation (FPDS-NG)

Standard Procurement System (SPS)

Federal Acquisition Data System (FADS)

Acquisition Career Management Information System (ACMIS) 8.Which one of the following should be question(s) asked during market research and acquisition planning regarding small businesses?

Are there two or more capable small businesses that can perform the work?

What subcontracting possibilities are there for large and small businesses?

Can a large business perform the work better than a small business?

Is there a local small business that is available to perform the work? 9.Size standards are determined at the NAICS code level. In what two ways are they stated?

Number of operating locations the company has or average annual receipts in millions of dollars.

Number of employees the company has or average annual receipts in millions of dollars.

Number of employees the company has or average annual profit in millions of dollars.

Number of prime contracts the company has or average annual receipts in millions of dollars. 10.Which of the following programs helps small disadvantaged businesses compete in the American economy and gain access to the federal procurement market by offering noncompetitive (sole source) awards up to certain ceilings, for economically and socially disadvantaged businesses?

Historically Underutilized Business Zones (HUBZone)

Small Disadvantaged Business - 8(a)

Women-Owned Small Business (WOSB)

Service-Disabled Veteran-Owned Small Business (SDVOSB) 11.What is defined as, the Contracting Officer shall set aside any acquisition over the simplified acquisition threshold for small business participation with reasonable expectation that offers will be received from at least two responsible small businesses and award will be made at fair market prices?

Simplified Acquisition Threshold

Rule of Two

Small Business Reserve

Rule of Five 12.You have a requirement for the manufacture and delivery of underwater drones for the Navy. The acquisition is estimated to be $4,597,000. Based on market research, you know there is one service disabled veteran owned small business concern capable of performing the work. You are authorized to negotiate and award a sole source contract to this company.

True

False 13.Which of the following is characterized by "reserving an acquisition exclusively for participation by small business concerns?"

Set-aside

Small business reservation

Small business award

Large business exclusion 14.You awarded a general construction contract as a small business set-aside. Excluding the cost of materials, what is the maximum amount the prime is allowed to subcontract with a non-similarly situated entity?

50%

85%

75%

60%