SBA Regulatory Compliance & Risk Management 2

Question 1

Under the Americans with Disabilities Act (ADA), which threshold triggers the requirement for small businesses to provide reasonable accommodations to employees?

Accepted Answer

15 or more employees

Answer

The ADA applies to employers with 15 or more employees, requiring them to provide reasonable accommodations unless it causes undue hardship.

Question 2

A small business owner discovers a data breach exposing 600 customers' personal information. Under most U.S. state breach notification laws, the owner must primarily:

Accepted Answer

Notify affected individuals and relevant state authorities promptly

Answer

State breach notification laws generally require timely notice to affected individuals and often to state attorneys general or regulators.

Question 3

Which federal agency enforces the Occupational Safety and Health Act (OSH Act) for most private-sector small businesses?

Accepted Answer

Occupational Safety and Health Administration (OSHA)

Answer

OSHA, within the Department of Labor, enforces workplace safety and health standards for private-sector employers.

Question 4

A risk transfer strategy most commonly used by small businesses to shift potential financial losses to a third party is:

Accepted Answer

Risk insurance

Answer

Purchasing insurance transfers the financial consequence of specified risks to an insurer, which is the primary risk-transfer tool for small businesses.

Question 5

The Fair Labor Standards Act (FLSA) establishes which of the following for covered small businesses?

Accepted Answer

Minimum wage and overtime pay requirements

Answer

The FLSA sets the federal minimum wage and requires overtime pay of at least 1.5 times the regular rate for hours worked over 40 in a workweek.

(SBA) Small Business Administration Certified Business Practice Test

(SBA) Small Business Administration Certified Business Practice Test

SBA Regulatory Compliance & Risk Management 2