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 ceiling, including options, of $6 million for manufacturing and $3.5 million for any other NAICS code. HUBZone Small Business - Answer-established to promote job growth, capital investment, and economic development to historically underutilized business zones, by providing contracting assistance to small businesses located in these economically distressed communities. Initial Planning - Answer-we conduct market research to determine whether there is a commercial solution available and whether small business can provide that solution. Market Research - Answer-one of the steps in the Acquisition Process where Contracting Officers can promote ma opportunity for small bus. utilization Pre-Solicitation Phase - Answer-Initial Planning, Market Research, Acquisition Planning, Procurement Request, SOW/PWS/SOO, and Factors/Sub-factors Solicitation Award Phase - Answer-Solicitation [Request for Quote (RFQ), Invitation for Bids (IFB), solicitation] Evaluation (Technical, cost/price, past performance, Small Business Participation) •Negotiation •Award What is DoD Policy regarding Small Business? Be sure to include some of the main small business categories - Answer-DoD Policy requires us to provide maximum practicable opportunity to small businesses, and there are specific rules covering the proportion of DoD total purchases, Prime Contracts, Subcontracts, and Sale of Property. It's in the FAR part 19. Acquisition Team - Answer-composed of many different participants who work together to navigate through the acquisition process. Each team member has specific tasks and is empowered to make decisions within their areas of responsibility. Tools that help identify small business candidates include - Answer-Requests for Information (RFI) issued by Contracting Officer • Sources Sought Synopsis issued by Contracting Officer • General Services Administration (GSA) Schedules Yellow pages • Professional trade organizations • Trade shows • Networking • Internet Searches Contracting Officer with the support of the Contracting Specialist, is responsible for - Answer-Establishing a feasible and appropriate acquisition strategy • Reviewing requirements, evaluation criteria, and cost estimates • Serving as the official point of contact between the government and industry • Coordinating final review of the acquisition package to identify contractual impacts • Ensure customer provides sufficient funding • Ensuring that contractors receive fair, impartial, and equitable treatment • Planning and coordinating source selection Administering, modifying, and terminating the resulting contract • Ensuring that all laws, executive orders, legislation, and applicable procedures are met Small Business Professionals help small businesses - Answer-Market their products and services with DoD • Follow defense procurement procedures • Be placed on the solicitation mailing lists • Identify prime contract and subcontract opportunities (Rule of Two) Small Business Professionals can provide valuable assistance to the Acquisition Team in: - Answer-Helping plan the milestone schedule • Defining the acquisition strategy which produces better value and lower costs • Guiding team members in determining the appropriate level of market research alternatives and sources • Assisting team members in understanding small busin