SBA SBA Government Contracting & Procurement 1 — Questions and Answers
Question 1: What is the U.S. government's annual small business contracting goal as a percentage of federal prime contracts?
- 15%
- 20%
- 23% (Correct answer)
- 30%
Correct answer: 23%
The U.S. government has a statutory goal of awarding 23% of federal prime contract dollars to small businesses each year.
Question 2: Which SBA program helps small businesses compete for federal contracts by allowing agencies to set aside contracts exclusively for them?
- 8(a) Business Development
- Small Business Set-Aside Program (Correct answer)
- HUBZone Program
- WOSB Program
Correct answer: Small Business Set-Aside Program
The Small Business Set-Aside Program allows federal agencies to restrict competition for certain contracts to small businesses only.
Question 3: What does 'HUBZone' stand for in the SBA HUBZone program?
- High Unemployment Business Zone
- Historically Underutilized Business Zone (Correct answer)
- Highly Urban Business Zone
- Home-Based Unified Business Zone
Correct answer: Historically Underutilized Business Zone
HUBZone stands for Historically Underutilized Business Zone, targeting areas with low income or high unemployment.
Question 4: Under the SBA 8(a) Business Development program, what is the maximum length of time a firm can participate?
- 5 years
- 7 years
- 9 years (Correct answer)
- 12 years
Correct answer: 9 years
The 8(a) Business Development program is a 9-year program divided into a 4-year developmental stage and a 5-year transition stage.
Question 5: What is the primary purpose of the System for Award Management (SAM.gov) for small businesses seeking government contracts?
- Apply for SBA loans
- Register as a federal contractor and be searchable by agencies (Correct answer)
- File annual tax returns
- Submit OSHA compliance reports
Correct answer: Register as a federal contractor and be searchable by agencies
SAM.gov registration is required for small businesses to be eligible to receive federal contracts, grants, and other awards.
Question 6: Which certification allows women-owned small businesses to compete for federal set-aside contracts?
- 8(a) Certification
- WOSB/EDWOSB Certification (Correct answer)
- HUBZone Certification
- SDVOSB Certification
Correct answer: WOSB/EDWOSB Certification
The Women-Owned Small Business (WOSB) and Economically Disadvantaged WOSB (EDWOSB) certifications allow eligible businesses to compete for set-aside federal contracts.
SBA SBA Government Contracting & Procurement 1
What is the U.S. government's annual small business contracting goal as a percentage of federal prime contracts?