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BGSU > AERT 4350 Mid Multi Choice > Flashcards

AERT 4350 Mid Multi Choice Flashcards

1
Q

Which one of these types of airport sponsorships has the largest freedom in financial decision making?
Airport Authority
Port Authority
Municipality
State Ownership

A

Port Authority

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2
Q

Which of the following type of airports would not qualify as a private owned airport here in the US?
Private Lake port
Private airstrip
County Airport
Corporate helipad

A

Country Airport

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3
Q

____________ is the type of airport ownership (or sponsorship) in which the airport is run as department of either city or county
Port Authority
Airport Authority
State ownership
Municipal

A

Municipality

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4
Q

Some of the duties of an Airport Executives include the following except for:
Setting the goals of the airport and identifying the right strategies
Negotiating leases with new tenants
Interacting with the local community

A

setting the goals of the airport and identifying the right strategies

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5
Q

Which among these would an ideal metric to measure the activity level at the Washington Dulles International airport?
Passenger Traffic
Aircraft based at the airport
Aircraft Operations

A

passenger traffic

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6
Q

__________ is the type of ownership (or sponsorship) in which the municipality creates a legal agency to make the decision on the direction and overall management of the airport
Airport Authority
State Ownership
Municipality
Port Authority

A

airport authority

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7
Q

Which of the following is not a disadvantage for states to own/control their own airport?
Proximity effects of the airports to the state capital
Revenue generation source for the state
Competition of resources with other state departments/units
Lack of good understanding of the local area where an airport is located at

A

Revenue generation source for the state

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8
Q

Which of these is not considered as one of the four primary areas of management at an airport (mostly medium to large hubs)?
Finance and Administration
Marketing
Auditor
Operations, Maintenance, & Security

A

auditor

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9
Q

Title 49 CFR Part ________ was created after 9/11 attack to address the security aspects at airports

1542
1562
1520
15

A

1542

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10
Q

Two of the FAA Grant Assurances that bind the airport sponsors and executives to ensure they designate the use of the airport land as either aeronautical or non-aeronautical are:
Grant Assurances 4 and 21
Grant Assurances 4 and 5
Grant Assurances 20 and 21
Grant Assurances 5 and 19

A

GA 4 and 5

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10
Q

Which of these is not one of the reasons for having executive sessions during the airport decision making processes?
Concealing the information from the rest of the public
Protecting the innocent people such as the employees
Protecting proprietary information that may be part of the business negotiations
Discussing sensitive security information

A

concealing the information from the rest of the public

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11
Q

An airport manager has found out that the airport needs to sign a $1.2 million contract with a local engineering firm so they can start renovating the existing runway. However, this amount is outside what she has been allocated by the board to spend on any fiscal year. In order for her to get the contract moving, she will need to file a _________ with the airport board as soon as possible
Regular Agenda
Resolution
Public Discussion
Consent Agenda

A

resolution

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12
Q

_____________ is the one who creates the strategic vision and plan of the airport
Federal Aviation Administration
Sponsor
Airport Manager
Executive

A

sponsor

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13
Q

Which of these would be considered as a reasonable compatible land use investment near the airport?
A cargo depot for UPS
A church
A school
A hospital

A

a cargo depot for UPS

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14
Q

The three main areas which are considered important for an airport executive to both know and be aware of their authority levels in are the following except for:
Personnel Handling
Agreements
Flight Operations
Purchasing

A

flight operations

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15
Q

Which of these FAA Grant Assurances requires the airports to take necessary actions to protect the airspace around the airport?
Grant Assurance #5
Grant Assurance #21
Grant Assurance #7
Grant Assurance #20

A

GA #20

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16
Q

Any activity that involves, makes possible, or is required for the operation of aircraft or that contributes to or is required to the safety of such operations is regarded as______________
Non-aeronautical activity
Aeronautical Activity
Minimum Standard
In-Compatible Land Use Activity

A

aeronautical activity

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17
Q

________________ involves extrapolating existing data into the future to see how the variables will behave; in most cases, it works better if we have enough historical data
Time series modeling
Econometric modeling
Market share
Simulation modeling

A

time series modeling

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18
Q

Which of these is not one of the ways in which airports collect revenue from Rental Cars companies operating at those airports?
Customer Facility Charges
Base rents for the use of airport facilities
Set percentage of car rentals’ revenue
Fuel flowage fee

A

fuel flowage fee

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19
Q

Based on the statistics, _____________ is considered to be the most significant source of non-airline revenue for airports
Concession revenue
Airport parking revenue
Rental Car revenue
Restaurant revenue

A

airport parking revenue

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20
Q

At times the airport operators at small airports may substitute the _________ fee for ______ fee to attract more aircraft users at their airports
Rental___________ Landing
Landing __________ Fuel
Fuel ______________ Landing
Lease____________Fuel

A

fuel and landing

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21
Q

Among the following listed activities, which one of them would not be considered to be an aeronautical activity?
Model rocket operations
Air taxi operations
Scheduled air carrier operations
General aviation operations

A

model rocket operations

22
Q

incremental budgeting

A

incremental

23
Q

program budgeting

A

expenditures

24
Q

line item budgeting

A

every departure

25
Q

zero based budgeting

A

we start from

26
Q

From the list of revenues below, check all the boxes for those items that are non-operating revenue type
Fuel flowage fees
Restaurants
Property Taxes
Rental Cars
Concessions
Interest Income
Customer Facility Charges
Passenger Facility Charges

A

property taxes
interest income
CFC
PFC

27
Q

_______________ is a form of advertisement in which we help the passengers find their way to the various locations within the airport - in the process, they get exposed to the advertisements
You Answered
Sponsorship Method
Touch-Screen Directories
Wifi Applications
Maximum Exposure

A

touch screen directories

28
Q

___________________ is a financial statement that shows the revenues of the entity minus the expenses to arrive at the ‘bottom’ line
Income Statement
Balance Sheet
Cash Flow Statement

A

income statement

29
Q

Which of the following is not one of the main types of airport revenues?
Non-Operating revenue
Cash Flow revenue
Non-aeronautical revenue
Aeronautical Revenue

A

cash flow revenue

30
Q

When there is a variation between what is estimated on the budget and what gets spent or collected, this situation is called ___________________
Forecasting
Regression
Econometric
Variance

A

variance

31
Q

_____________ involves measuring a particular activity at an airport as a share of some other aggregate measure
Market share
Econometric modeling
Time series modeling
Simulation modeling

A

market share

32
Q

___________________ is a financial statement that shows the items owned or controlled by the entity (assets) and the items owed to the others by the entity (liabilities)
Cash Flow Statement
Income Statement
Balance Sheet

A

balance sheet

33
Q

__________________ is the process of checking the financial records of a company or entity’s owners and accountants to ensure the integrity of the information
Financial accounting
Book keeping
Auditing
Management accounting

A

auditing

34
Q

______________________ is obtained from serviced provided by air carriers related directly and substantially to the movement of passengers, baggage, mail, and cargo at the airport
Cash Flow revenue
Aeronautical Revenue
Non-Aeronautical revenue
Non-operating revenue

A

aeronautical revenue

35
Q

__________ is the process of preparing to issue out a bond to interested investors. It includes the costs of preparing the _________, getting bond ratings and insurance, and conducting feasibility studies for your bonds and projects
Ordinance _________ Issuance
Issuance _________ Ordinance
Ordinance __________ Indenture
Issuance ________ Interest

A

issuance and ordiance

36
Q

Very fiscal year, the FAA ensures that there is a remaining amount of AIP funds available after all the various types of funds have been distributed to airports. Recently, this amount has been set at $ ___________ Million
148
550
250
100

A

148

37
Q

Which of the following airport work costs would be eligible for funding through the AIP?
Liability Insurance
Land and Relocation Assistance
Non-expendable machinery, tools, or equipment
Tuition, Subsidies, and Workshop Travel for Airport Personnel

A

land and relocation assistance

38
Q

Which of the following are the primary regulations that provide details on how the AIP grants are to be processed by airport sponsors and executives?
Grant Assurance #5 and Program Guidance Letter (PGL)
Grant Assurances #5 and #24
Grant Assurance #24 and Program Guidance Letter (PGL)
FAA Order 5100.38C and Program Guidance Letter (PGL)

A

FAA order 5100.38c

39
Q

__________ is a money market security that is used to manage cash flow and not generally used to finance long-term projects instead of pursuing bond options
Capital Lease
Bond Note
Bond Anticipation Note
Commercial Paper

A

Commercial paper

40
Q

Both large and medium hub airports that collect Passenger Facility Charge (PFCs) fees, are supposed to return up to ________ of their entitlement funds if they collected ________ per passenger
75% ________$3.00
50%________$4.50
75% _______ $4.50
50%________$3.50

A

75% 4.50

41
Q

Which of these would not be used as factor to determine the investment quality of the airport bond issuance?
Bond Ratings
Insurability
Bond Note Value
Number of Prior Defaults

A

bond note value

42
Q

Which of these is not one of the main purposes for provision of Airport Improvement Program (AIP) grants?
Airport Development
Airport Planning
Airport Sponsors’ Professional Development
Noise Compatibility

A

airport sponsors’ professional development

43
Q

____________ is a loan that a a borrower agrees to pay a fixed amount per period (this would be the interest) while repaying the funds borrowed (also known as the principal)
Debt Claim
Equity
Stock Claim
Account Payable

A

debt claim

44
Q

Which of the following airport work items would not be eligible for funding through the AIP?
Land Acquisition
Ground Access Roads on Airport Property
Industrial Park Development
Snow Removal Equipment Purchase

A

Industrial park development

45
Q

_________ informs the investor as to whether the bonds being by a particular airport are creditworthy
Bond Value Note
Bond Ratings
Insurability
Number of Prior Defaults

A

bond ratings

46
Q

Which of these types of bonds are more prevalent at small general aviation airports?
Revenue Bonds
Special Facility Bonds
Passenger Facility Charge Bonds
General Obligation Bonds

A

general obligation bonds

47
Q

Which of these AIP funds are only available to Large, Medium, Small, and Non- hub type of airports?
Pure Discretionary Funds
Set-Aside Funds
Entitlement Funds
Discretionary Set-Aside Funds

A

entitlement funds

48
Q

___________ is an amount that the lender of the capital monies (loan) receives i.e. it is the compensation they receive for not having the money with them because they loaned it out to another entity
Issuance
Interest
Bond Ordinance
Bond Indenture

A

interest

49
Q

Which of these types of bonds is most commonly utilized in medium and large commercial airports?
Revenue Bonds
Special Facility Bonds
Passenger Facility Charge Bonds
General Obligation Bonds

A

revenue bonds

50
Q

One of the similarities between the National Airport System Plan (NASP) and the National Plan of Integrated Airports System (NPIAS) is that they both categorized General Aviation airports as having ________
Less than 2,500 passengers annually
At least 10,000 passengers annually
At least 100 aircraft locally based at those airports
At least 25,000 itinerant operations

A

less than 2,500 passengers annually

51
Q

Entitlement Funds that are collected back from the large and medium hub airports that collect PFCs are normally collected under the _______________ to support non-primary airports
Aviation Trust Fund
AIP Matching Fund
Small Airport Fund
Federal Aviation Fund

A

small airport fund

52
Q

The following data below are the annual enplanement for the listed commercial airports during the year 2019. Based on this information, which airports whose management would not have to submit a special report to the FAA regarding their PFCs collection and near-future projections?

A

Memphis and Oklahoma

BGSU (19 decks)

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