One of a series of nine reports of Project ACTIVE (Attaining Competence for Teaching in Vocational Education), this report focuses on identification and validation of professional competencies (skills) important to vocational business education teachers. An overview of competency-based vocational teacher education (CBTE) and the Florida exemplary CBTE project is provided. The competency identification phase of the vocational business education component (one of nine project components) is described including a literature review and expansion of 65 competencies identified in an earlier study to 92, which were then ranked in importance by 24 members of the Florida Chapter of Delta Pi Epsilon, an honorary graduate business education fraternity dedicated to research in the field of business education. The 92 competencies are listed in a table with their mean importance ratings and rank. Appendixes contain instruments used in the study and a 34-item bibliography. (TA)