Certification in Supplier Diversity Practice Exam

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What is one requirement for firms to participate in the mentor-protege program?

Firms must be publicly traded
Firms must be eligible for federal contracts
Firms must have a minimum of 100 employees
Firms must provide their services internationally

The correct answer is: Firms must be eligible for federal contracts

To participate in the mentor-protege program, firms must be eligible for federal contracts. This requirement ensures that the firms involved in the program have the necessary credentials and are aligned with government procurement standards, which aim to enhance the ability of small and disadvantaged businesses to compete effectively in the marketplace. The mentor-protege program is designed to foster relationships between established firms and smaller, emerging businesses, giving the latter access to resources, guidance, and opportunities that they might not otherwise have. Being eligible for federal contracts signifies that the firm has met specific regulatory and operational benchmarks, making it a suitable candidate for mentorship and partnership within the program framework. The other options, while potentially relevant in different contexts, do not align with the fundamental purpose of the mentor-protege program, which focuses specifically on enhancing the capabilities of firms eligible for government contracting. Hence, eligibility for federal contracts stands out as a crucial requirement.