8(a) Business Development Program Knowledge Quiz

8(a) Business Development Program Knowledge Quiz

Professional Development

10 Qs

quiz-placeholder

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8(a) Business Development Program Knowledge Quiz

8(a) Business Development Program Knowledge Quiz

Assessment

Quiz

Business

Professional Development

Practice Problem

Easy

Created by

Heather Honerkamp

Used 24+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Section 8(a) of the Small Business Act setup?

Small Business Development Centers

Sets up a program to award government contracts to small businesses owned by disadvantaged individuals

The Small Business Administration

APEX Accelerators

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many years does the 8(a) business development program last?

1

3

9

indefinitely

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What factors determine eligibility to the 8(a) program?

Small Business, 51% owned by disadvantaged US citizens, demonstrated business success

51% owned by women

Participated in 8(a) before

1 Year of business history

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the SBA formula for Personal Net Worth?

Net Worth = (Home Value + Retirement Accounts)

Net Worth = (Home Value + Retirement Accounts+Business Equity)

Net Worth = (Assets) - (Liabilities) - (Home Value + Retirement Accounts+Business Equity)

Net Worth = (Assets) - (Liabilities)

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Pick all correct answers: What role must the disadvantaged applicant hold?

CEO

President


Managing Member

General Manager

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The disadvantaged applicant(s) can live outside the USA.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pick the requirements to be identified as economically disadvantaged.

<850,000 Net Worth
<400,000 Avg Income

<6.5 M assets

<500,000 Net Worth
<200,000 Avg Income

<3.5 M assets

<1,000,000 Net Worth
<300,000 Avg Income

<4.5 M assets

<250,000 Net Worth
<100,000 Avg Income

<1 M assets

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