FAC Socioeconomic Programs & Small Business 2

Question 1

Which federal law requires large business prime contractors to submit subcontracting plans when contract value exceeds certain thresholds?

Accepted Answer

Small Business Act Section 8(d)

Answer

Davis-Bacon Act

Answer

Federal Property and Administrative Services Act

Answer

Competition in Contracting Act

Question 2

What is the Individual Subcontracting Report (ISR) used for in federal contracting?

Accepted Answer

Tracking a prime contractor's progress toward subcontracting goals

Answer

Reporting contractor past performance ratings

Answer

Certifying a business's small business status

Answer

Documenting competition for task orders

Question 3

Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) must be at least what percentage owned and controlled by service-disabled veterans?

Accepted Answer

51%

Answer

25%

Answer

49%

Answer

75%

Question 4

Under FAR Part 19, what term describes the process by which a contracting officer reserves an acquisition exclusively for small businesses?

Accepted Answer

Set-aside

Answer

Sole-source award

Answer

Indefinite delivery order

Answer

Blanket purchase agreement

Question 5

Which SBA program certifies small businesses located in HUBZones and requires that at least what percentage of employees reside in a HUBZone?

Accepted Answer

35%

Answer

25%

Answer

51%

Answer

60%

Question 6

What database must vendors register in to be eligible to receive federal contracts, and also serves as the primary repository for socioeconomic certifications?

Accepted Answer

System for Award Management (SAM.gov)

Answer

Federal Procurement Data System (FPDS)

Answer

Dynamic Small Business Search (DSBS)

Answer

USA Spending Database

Question 7

What is the purpose of the Mentor-Protégé Program under the SBA's 8(a) Business Development Program?

Accepted Answer

To allow large businesses to form joint ventures with 8(a) firms for contract awards

Answer

To provide direct grants to small businesses

Answer

To reduce competition requirements for sole-source awards

Answer

To establish price preferences for disadvantaged firms