CLM 059 Fundamentals of Small Business
(Acquisition Workforce): Exam Questions
& Verified Answers Study Guide
Pass
1. You have been contacted by a small business, and you want to verify they are
registered to do business with the Federal Government. What system should you
use?
A. Contractor Performance Assessment Reports System (CPARS)
B. Past Performance Information Retrieval System (PPIRS)
C. Federal Procurement Data System Next Generation (FPDS-NG)
D. System for Award Management (SAM)
Ans: D. System for Award Management (SAM)
Pass:
2. Which of the following can affect acquisition regulations and policies that
influence small business? Select three that apply.
A. Legislation
B. Inspector General (IG) Recommendations
C. Court Decisions
D. Modification
Ans: A. Legislation, B. Inspector General (IG) Recommendations, C. Court
Decisions
Pass:
3. Access Federal Acquisition Regulation (FAR) Part 19.402 and use it to answer
the following question. What is the role of the Small Business Administration
(SBA) Procurement Center Representative (PCR) in an acquisition? Select two that
,apply.
A. Impose penalties on a contracting activity if they do not meet mandated small
business participation goals.
B. Conduct periodic reviews of the contracting activity to which assigned to
ascertain whether it is complying with small business policies.
C. Make the final decision on all small business set-aside determinations.
D. Recommend that a solicitation be set aside for small business or a specific
socioeconomic program.
Ans: B. Conduct periodic reviews of the contracting activity to which assigned to
ascertain whether it is complying with small business policies. D. Recommend
that a solicitation be set aside for small business or a specific socioeconomic
program.
Pass:
4. What is the statutory definition of a small business concern?
A. Any business with fewer than 100 employees.
B. A business that is independently owned and operated and not dominant in its
field of operation.
C. Any business that meets the size standards established by the Small Business
Administration.
D. A business with annual receipts less than $7.5 million.
Ans: B. A business that is independently owned and operated and not dominant
in its field of operation.
Pass:
5. Which FAR part covers the Small Business Programs?
A. FAR Part 12
B. FAR Part 15
C. FAR Part 19
D. FAR Part 22
Ans: C. FAR Part 19
, Pass:
6. The Small Business Administration (SBA) establishes size standards for each
North American Industry Classification System (NAICS) code. The primary factor
used to define a small business is:
A. Number of employees or average annual receipts.
B. Years in business.
C. Geographic location.
D. Total assets.
Ans: A. Number of employees or average annual receipts.
Pass:
7. Which of the following is a small business socioeconomic program
administered by the SBA?
A. 8(a) Business Development Program
B. HUBZone Program
C. Women-Owned Small Business (WOSB) Program
D. All of the above
Ans: D. All of the above
Pass:
8. A small business set-aside is required when the contracting officer has a
reasonable expectation that:
A. At least two responsible small businesses will submit offers and the award will
be made at a fair market price.
B. Only one small business is capable of performing the contract.
C. The acquisition will exceed the simplified acquisition threshold.
D. The small business will be able to subcontract 50% of the work.
Ans: A. At least two responsible small businesses will submit offers and the
award will be made at a fair market price.
Pass:
(Acquisition Workforce): Exam Questions
& Verified Answers Study Guide
Pass
1. You have been contacted by a small business, and you want to verify they are
registered to do business with the Federal Government. What system should you
use?
A. Contractor Performance Assessment Reports System (CPARS)
B. Past Performance Information Retrieval System (PPIRS)
C. Federal Procurement Data System Next Generation (FPDS-NG)
D. System for Award Management (SAM)
Ans: D. System for Award Management (SAM)
Pass:
2. Which of the following can affect acquisition regulations and policies that
influence small business? Select three that apply.
A. Legislation
B. Inspector General (IG) Recommendations
C. Court Decisions
D. Modification
Ans: A. Legislation, B. Inspector General (IG) Recommendations, C. Court
Decisions
Pass:
3. Access Federal Acquisition Regulation (FAR) Part 19.402 and use it to answer
the following question. What is the role of the Small Business Administration
(SBA) Procurement Center Representative (PCR) in an acquisition? Select two that
,apply.
A. Impose penalties on a contracting activity if they do not meet mandated small
business participation goals.
B. Conduct periodic reviews of the contracting activity to which assigned to
ascertain whether it is complying with small business policies.
C. Make the final decision on all small business set-aside determinations.
D. Recommend that a solicitation be set aside for small business or a specific
socioeconomic program.
Ans: B. Conduct periodic reviews of the contracting activity to which assigned to
ascertain whether it is complying with small business policies. D. Recommend
that a solicitation be set aside for small business or a specific socioeconomic
program.
Pass:
4. What is the statutory definition of a small business concern?
A. Any business with fewer than 100 employees.
B. A business that is independently owned and operated and not dominant in its
field of operation.
C. Any business that meets the size standards established by the Small Business
Administration.
D. A business with annual receipts less than $7.5 million.
Ans: B. A business that is independently owned and operated and not dominant
in its field of operation.
Pass:
5. Which FAR part covers the Small Business Programs?
A. FAR Part 12
B. FAR Part 15
C. FAR Part 19
D. FAR Part 22
Ans: C. FAR Part 19
, Pass:
6. The Small Business Administration (SBA) establishes size standards for each
North American Industry Classification System (NAICS) code. The primary factor
used to define a small business is:
A. Number of employees or average annual receipts.
B. Years in business.
C. Geographic location.
D. Total assets.
Ans: A. Number of employees or average annual receipts.
Pass:
7. Which of the following is a small business socioeconomic program
administered by the SBA?
A. 8(a) Business Development Program
B. HUBZone Program
C. Women-Owned Small Business (WOSB) Program
D. All of the above
Ans: D. All of the above
Pass:
8. A small business set-aside is required when the contracting officer has a
reasonable expectation that:
A. At least two responsible small businesses will submit offers and the award will
be made at a fair market price.
B. Only one small business is capable of performing the contract.
C. The acquisition will exceed the simplified acquisition threshold.
D. The small business will be able to subcontract 50% of the work.
Ans: A. At least two responsible small businesses will submit offers and the
award will be made at a fair market price.
Pass:
