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module 1 finance and administration of airports > Module 1 > Flashcards

Module 1 Flashcards

FINANCE AND ADMINISTRATION OF AIRPORTS

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Series 65 flashcards Series 79 Top-Off Exam flashcards
1
Q

What precedent did the Air Mail Act of 1925 set?

A

The public should not pay for the 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 on the U.S. 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

2,500

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5
Q

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

A

General Aviation Reliever

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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: Commuter and on demand operation and rules governing person 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

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

Encourages airports to be self-sustainable

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12
Q

Which 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 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 Rate and Charges

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19
Q

Which of the following is considered incompatible land use around an airport?

A

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

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21
Q

Which of the following characteristics of minimum standards most benefit the airport operator?

A

Ensures the orderly development of land

22
Q

Select the true statement about Exclusive Rights.
a. The airport operator my grant (themselves) the exclusive right to conduct aeronautical activity

b. The airport operator may grant (a significant tenant) the exclusive right to conduct an aeronautical activity

c. Grant assurance 23 Exclusive Rights, pertains to Concessionaires, not aeronautical activities

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

A

a. The airport operator my grant (themselves) the exclusive right to conduct aeronautical activity

23
Q

What is the rule regarding airport fuel?

A

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

24
Q

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

A

Through the fence operator

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

26
Q

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

A

Zero based budget

27
Q

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

A

Income statement

28
Q

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

A

landing fees

29
Q

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

A

Concessions

30
Q

Which of the following is revenue diversion?

A

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

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

32
Q

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

A

The airport must attempt to get Fair Market Value for the use of non-aeronautical property

33
Q

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

A

Residual

34
Q

The ____describes the reason for the airport’s existence.

A

Mission statement

35
Q

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

A

Passenger Facility Charge funded projects (PFCs)

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

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

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-Based Operators

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 (PGL)

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 or 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 (PFCs), 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

module 1 finance and administration of airports (5 decks)

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