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Aviation > CM Finance & Admin > Flashcards

CM Finance & Admin Flashcards

1
Q

What precedent did the Air Mail Act of 1925 set?

A

The public should not be burdened with paying for air service

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2
Q

Which Act created the FAA?

A

The Federal Aviation Act

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3
Q

What signified the effective beginning of privatized space flight?

A

The final flight of the US Space Shuttle

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4
Q

What is the minimum number of enplanements your airport must receive, to qualify for commercial service status?

A

2500

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5
Q

What is the correct classification for an airport that is designated by the FAA to relieve General Aviation aircraft traffic from a commercial service airport?

A

General aviation reliver

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6
Q

What type of airport is entirely owned by the Department of Defense but leases space to a civilian entity to conduct civil flight operations?

A

joint Use

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7
Q

Which flight operation addresses charter operations?

A

Part 135 Operating requirements: Consumer and on demand operations and rules governing persons on board such aircraft

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8
Q

What type of aircraft chart shows obstacles, terrain height, federal airways below 18,000-feet, the location of airports, control towers, navigational aids and communication frequencies?

A

The Sectional Chart

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9
Q

Which type of approach (to a runway) provides lateral navigational information only?

A

Non-precision approach

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10
Q

What is the FAA term for the entity that is responsible for governance of the airport?

A

The airport sponsor

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11
Q

The FAA _________.
A. Has no position whether airports are self-sustainable
B. Requires airports to be self -sustainable
C. Encourages airport to be self-sustainable
D. Requires airport to operate without federal airport improvement program (AIP) money

A

C. Encourages airport to be self-sustainable

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12
Q

What type of airport organizational structure is not eligible for federal funding?

A

Private owned / private use

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13
Q

What is the minimum amount of time the federal government must keep a Notice of Proposed Rulemaking out for public notice?

A

30 days

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14
Q

What is the typical reauthorization cycle for the FAA?

A

3 years

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15
Q

Which of the following documents is a directive to FAA personnel on specific subjects and programs?
A. FAA Advisory Circular
B. FAA Order
C. Security Directive

A

FAA Order

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16
Q

The Federal government has found the use of ____________ to be the most effective means for extending federal government policy to local governmental units.

A

Grant Assurances

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17
Q

How long is the airport obligated to grant assurances if the airport accepts federal money for a development project?

A

20 years

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18
Q

Which grant assurances tells the FAA if your airport is “trying,” to be self-sustainable?

A

24 Rates and charges

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19
Q

Which of the following is considered incompatible land use around an airport?
A. Commercial Development
B. Industrial Development
C. An office Park
D. A healthcare clinic

A

D. A healthcare clinic

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20
Q

Airport users and tenants are required to adhere to which of the following?
A. Rules and regulations
B. Minimum Standards
C. Development Guidelines
D. Lease rates and policies

A

A. Rules and regulations

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21
Q

Which of the following characteristics of minimum standards most benefit the airport operator?
A. Prevents the devaluing of tenant leases
B. Ensures the orderly development of land
C. Protects the user from unlicensed products or services
D. Completely prevents aggrieved parties from filing complaints

A

B. Ensures the orderly development of land

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22
Q

Select the true statement about Exclusive Rights.

A. The Airport Operator may grant a significant tenant the exclusive right to conduct an aeronautical activity.

B. Grant assurance 23 exclusive rights, pertains to concessionaries, not aeronautical activities.

C. The Airport Operator may grant themselves the exclusive right to conduct aeronautical activity

D. The airport operator must reduce space of an existing tenant if another tenant desires to conduct an aeronautical activity

A

C. The Airport Operator may grant themselves the exclusive right to conduct aeronautical activity

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23
Q

What is the rule regarding airport fuel?

A

Any aircraft owner can fuel their own airplane using their own personnel, fuel and equipment.

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24
Q

What is the term for an off-airport land owner that requires aeronautical access to the airport to conduct their flight operations?

A

Through the fence operator

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25
Q

Which type of budgeting process takes the previous year or period’s actual numbers and adjusts them by a predetermined percentage?

A

Incremental budget

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26
Q

What type of budget requires a fresh perspective and reanalysis of all items every year?

A

Zero-based budget

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27
Q

Which financial statement uses accrual accounting to tell you “when” the money was spent or earned?

A

Income Statement

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28
Q

What is the most common type of aeronautical charge at a commercial service airport?

A

Landing Fees

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29
Q

Which type of revenue is incidental to aircraft operations and classified as non-aeronautical revenue?

A

Concessions

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30
Q

Which of the following is revenue diversion?

A

Loans or investment of airport money at less than the prevailing interest rate

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31
Q

What is the FAA’s position on the airport’s Fee and Rental Structure?

A

The airport must set rates and charges in a manner to be as self sustaining as possible

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32
Q

What is the FAA’s position on non-aeronautical property?

A

The airport must attempt to get fair market value for the non-aeronautical property.

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33
Q

In what type of agreement between the airport and the airlines, does the airline take the majority of the risk?

A

Residual

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34
Q

The ______ describes the reason for the airport’s existence.

A

Mission Statement

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35
Q

Federal procurement policies do not apply to which of the following?

A

Passenger facility charge funded projects

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36
Q

In which circumstance does one entity work under a single contract to provide design and construction services.

A

Design build

37
Q

What system records ownership and usage and monitors and maintains items of value?

A

Asset management systems

38
Q

Which of the following relates to the ability of an Information Technology system to be upgraded?
A. Usability
B. Compatibility
C. Security
D. Scalability

A

D. Scalability

39
Q

What type of cyber-attack overloads an information technology (IT) system with data, forcing it to shut down?

A

Denial of service

40
Q

Which policy covers damage or destruction of other people’s aircraft while in the insured custody for storage, repair, or safekeeping and while in or on the scheduled premises?

A

Hangar Keepers

41
Q

What type of lease requires a periodic valuation of the property to set new rates?

A

Revaluation Lease

42
Q

In which approach to leasing space does the airport operator take the most risk?
A. When the airport operator directly markets and leases concession space
B. When engaging the services of a development company to market and lease space
C. When engaging with a master lessee, which then markets and leases the space
D. When engaging the services of a property management company

A

A. When the airport operator directly markets and leases concession space

43
Q

Which entity is required to provide a variety of services to the airport in exchange for the right to sell fuel?

A

Fixed-Base Operators (FBO)

44
Q

According to the FAA, what is the primary purpose of the Aeronautical Use Agreement?

A

Grant operating rights to the airlines

45
Q

Which entity has the responsibility to lease space at the airport and commit to long-term financial support and development of the airport?

A

Signatory air carriers

46
Q

What document is used to update the Airport Improvement Program Handbook?

A

Program guidance letter

47
Q

Which type of Airport Improvement Program money is disbursed based on a formula, determined by your enplanements, operations and cargo?

A

Entitlements

48
Q

Which item(s) are typically not eligible for Airport Improvement Program funding?

A

A vehicle parking garage

49
Q

A Large or Medium Hub airport that collects $4.50 in Passenger Facility Charges, has its Airport Improvement Program Passenger Entitlements reduced by ___.

A

75%

50
Q

What types of bonds require voter approval and are closely associated with being issued by States or Municipalities?

A

General Obligation

51
Q

What are the characteristics of the Industrial Development Bond?

A

It is tax exempt and includes a capital investment in the airport.

52
Q

What are the 3 types of airport revenue

A

Aeronautical
Non-aeronautical
non-operating revenue

53
Q

What are customer facility charges (CFC’s) used for

A

CFCs are charged to rental car operators at an airport, and the money commonly go towards landside capital improvement projects, or landside related operations and maintenance projects

54
Q

What is the primary goal of keeping aeronautical charges low

A

To better promote aviation travel

55
Q

What are some sources of non-aeronautical revenue for airports

A

land rent form off airport, reservation centers, catering, rental car operations, parking, concession sales

56
Q

What does FAA stand for

A

Federal aviation administration

57
Q

What are some examples of non-operating revenues

A

passenger facility charges, customer facility charges, interest income, grants

58
Q

What is aeronautical activity

A

any activity that involves, makes possible, or is required for the operations of aircraft or that contributes to or is required for the safety of such operations.

59
Q

What is the purpose of state aviation grant programs

A

to provide funding for airports, which can typically be used to provide the federal match for an AIP grant and support airports that are no in the national plan of integrated airport systems

60
Q

how did railroads and the mail service contribute to the evolution of commercial aviation

A

They kick started commercial aviation by creating the initial demand and infrastructure for air travel

61
Q

what are the milestone events in the operation and development of airports

A

the creation of the first airport, the introduction of federal funding, the development of safety certifications, 9/11’s impact on security

62
Q

what is the primary role of the airport executive

A

to manage airport operations effectively, ensure compliance with regulations and addressing the needs of stakeholders

63
Q

what are the key stakeholders in airport environment

A

passengers, airlines, government agencies, airport employees, local community

64
Q

What airports are included in NPIAS

A

> public
private but designated as reliever by FAA
private but has scheduled air service of at least 2,500 annual enplanements

65
Q

what are the 5 types of airports

A

private
commercial
cargo
general aviation reliever
military

66
Q

What 3 measurements are used by the FAA to gauge airport activity?

A

enplanements
operations
cargo tonnage

67
Q

what is an enplanement

A

a passenger boarding a commercial flight

68
Q

what is an aircraft operation

A

any departure, arrival, or instrument approach without landing

69
Q

Why is cargo tonnage measured

A

It is does not related to specific airport categories.
It is for airport funding, planning, and design consideration

70
Q

what is a general aviation reliever

A

airport is designated by the FAA to relieve
congestion at commercial service airports and to provide improved general aviation access to the community

71
Q

What is the role of the Federal Aviation Administration (FAA) in airport management?

A

To provide policy guidance, regulatory oversight, and funding through programs like the Airport Improvement Program (AIP).

72
Q

What is the purpose of FAA Advisory Circulars?

A

To provide guidance on compliance with regulations and best practices in airport management.

73
Q

What are Grant Assurances

A

Legal agreements that airports must comply with to receive federal funding.

74
Q

What is a primary airport

A

airports that receive scheduled flights and have more than 10,000 enplanements per year.

75
Q

What is considered a large hub

A

serve at least 1% or more of the total US enplanements

76
Q

What is considered a medium hub

A

serve 0.25%-1% of the total US enplanements

77
Q

What is considered a small hub

A

serve 0.05%-0.25% of the total US enplanements

78
Q

What is considered a non-hub primary

A

serves less than 0.05% of the total US enplanements but still has more than 10,000 annual enplanements

79
Q

What is a non-primary airport

A

used by GA aircraft

80
Q

The 4 categories of GA airports

A

national
regional
local
basic

81
Q

What is ICAO

A

International Civil Aviation Organization: helps to ensure that flight
operations are conducted in a consistent manner and that there is a common vocabulary and operating principles amongst pilots, aviation systems, and airport operators.

82
Q

What is the FAAs definition of a sponsor

A

any public agency or private owner of a public-use airport

83
Q

What is the Airport Improvement Program (AIP)

A

A federal program that provides grants for the planning and development of public-use airports.

84
Q

What is an Airport Layout Plan (ALP)

A

A scaled drawing depicting existing and future airport facilities and property.

85
Q

What is the purpose of the National Plan of Integrated Airport Systems (NPIAS)

A

It identifies public-use airports that are significant to national air transportation and eligible for federal grants.

86
Q

What is a PFC?

A

Passenger Facility Charge; a fee collected by airlines for enplaned passengers.

87
Q

What is the purpose of the Environmental Impact Statement (EIS)

A

To describe the effects of proposed federal agency actions on the environment.

88
Q

What is a VOR?

A

Very High Frequency Omni-Directional Range; a type of short-range radio navigation system for aircraft.

Aviation (4 decks)

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