Download New Liberty University AVIA 360 Exam 1 

Download New Liberty University AVIA 360 Exam 1

Set 1

1. What are the three divisions of on-demand air transportation?
2. At the time of this book is written, how many business aircraft (turbojet and turboprop) were being flown worldwide?
3. Which is an example of a tangible benefit of corporate aviation?
4. Personal and business aviation are separated by one single factor:
5. The purpose of business aviation is to provide safe, efficient, and convenient air transportation to support the mission and goals of
6. Commercial air transport is separated by the FAA into
7. Approximately how much does airline service support, business travelers?
8. Key-person insurance policies often use salary multipliers of what value to help better value the time of an employee.
9. Corporate aircraft operations are distinct from employee-flown operations because of
10. Which is an example of a variable cost?
11. It is important for the flight department manager to be aware that company culture
12. Fractional ownership shares are based on this maximum annual aircraft
13. Often individuals select a method of on-demand travel based on
14. Which is an example of a fixed cost?
15. All methods of on-demand air transportation should be viewed as
16. Which aspect of company travel is considered in an air transportation analysis?
17. What happens to the total cost per hour as utilization increases?
18. With regard to flight records, what does the IRS require to be included for each leg of a trip?
19. Which is a deciding factor when it comes to the decision to either purchase of lease the aircraft?
20. Which specific flight department document helps to outline how the aircraft is used and who can use it?
21. Who is responsible for ensuring that the aircraft maintenance and inspections are complied with?
22. What formula is used to help value a flight for personal use?
23. What is the purpose of IS-BAO?
24. Which method of on-demand transportation provides a good value to operators needing 100 to 150 annual hours?
25. What is the percentage of companies that do not or minimally ask internal departments to compensate for the use of the company aircraft?

Set 2

1. Corporate aviation can
2. An arrangement where an aircraft is leased in return for equal time in the other airplane is a
3. When purchasing a new aircraft, the customer should
4. As hourly utilization increases, the cost per hour
5. Commercial air transport is separated by the FAA into:
6. The corporation Aircraft Owners Association changed its name to the National Business Aviation Association in
7. What was the first passenger cabin jet aircraft used in corporate aviation?
8. From a business perspective, one of the greatest advantages offered by owning a company aircraft is the:
9. What government service initially encouraged aircraft manufacturers to create larger and more capable aircraft?
10. An engine overhaul, aircraft repainting, and interior refurbishing are all parts of a
11. What aircraft has been the most popular turboprop?
12. While the airlines can serve about 500 airports across the United States, business aircraft can access:
13. Once data is collected from a travel analysis, the data is used so that additional analysis may be conducted to match
14. An arrangement where one owner pays for management and crew of an airplane and the other owner pays a fee for those services is a
15. What aircraft will continue to be the workhorse aircraft for corporate aviation?
16. Determining whether a company would be well advised to purchase ancillary aviation services or initiate its own business flight department is the objective of a
17. The fourth phase in the financial accounting process is
18. A graphical representation of costs at various levels of activity shown on the same chart as the variation of income with the same variation in activity is a
19. Who was the first owner/operator of Citation X in 1996?
20. The typical third phase of the financial planning process is
21. The aviation manager is typically involved in the annual operational budget and
22. Full ownership
23. The purpose of business aviation is to provide safe, efficient, and convenient air transportation to support the mission and goals of:
24. Costs that must be paid on a periodic basis regardless of whether the aircraft flies or not are
25. Because of the benefits of corporate aviation, over

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