Small Business Exam Questions and Answers 100% Pass

Small Business Exam Questions and Answers 100% Pass What is the DoD Small Business Program? - Answer-DoD policy is that a fair proportion of DoD total purchases, contracts, subcontracts, and other agreements for property and services and for sales of property, be placed with Small Business Programs and that such small businesses have the maximum practicable opportunity to participate in DoD acquisitions FAR) 19.202 - Answer-requires that small business concerns be afforded an equitable opportunity to compete for all contracts that they can perform to the extent consistent with the Government's interest. FAR part 19 includes - Answer-Maximum Practicable Opportunity Fair Proportion of DoD Total Purchases •Prime Contracts •Subcontracts •Sale of Property A small business must meet the following criteria - Answer-Has a Place of Business in the U.S., Operates Primarily within the U.S. or Makes a Significant Contribution to the U.S. •Independently Owned and Operated •Not Dominant in its Field •A Sole Proprietorship, Partnership, Corporation or other Legal Form Categories of Small Business include - Answer-Woman-Owned Small Business (WOSB) Economically Disadvantaged Women-Owned Small Business (EDWOSB) •Small Disadvantaged Business (SDB) o 8(a) Certified Small Business •Veteran-Owned Small Business (VOSB) •Service-Disabled Veteran-Owned Small Business (SDVOSB) •Historically Underutilized Business Zone Small Business (HUBZone) Woman-Owned Small Business (WOSB) - Answer-a small business concern that is at least 51% owned and controlled by women. Small Disadvantaged Business (SDB) - Answer-a small business that is at least 51% owned and controlled by a socially and economically disadvantaged individual or individuals. 8(a) Certified Small Business - Answer-participants can receive sole-source contracts, up to a ceiling, including options, of $4 million for goods and services and $6.5 million for manufacturing. Veteran Owned Small Business (VOSB) - Answer-small business concern that is at least 51% owned and controlled by veterans. VOSBs are self-identifying. Service Disabled Veteran Owned Small Business (SDVOSB) - Answer-participants can receive sole-source contracts, up to a ceil