SBA SBA Government Contracting & Procurement 1

Question 1

What is the U.S. government's annual small business contracting goal as a percentage of federal prime contracts?

Accepted Answer

23%

Answer

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?

Accepted Answer

Small Business Set-Aside Program

Answer

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?

Accepted Answer

Historically Underutilized Business Zone

Answer

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?

Accepted Answer

9 years

Answer

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?

Accepted Answer

Register as a federal contractor and be searchable by agencies

Answer

SAM.gov registration is required for small businesses to be eligible to receive federal contracts, grants, and other awards.

(SBA) Small Business Administration Certified Business Practice Test