QUESTIONS AND CORRECT ANSWERS
ALREADY PASSED
◉ Fractional ownership requires companies to have on file: Answer: Dry
lease purchase agreement
◉ What should be considered in order to determine a company's need
for business aircraft? Answer: Consideration, cost and comparative
analysis for potential use of business aircraft
◉ In order for a 14 CFR Part 91 operator to lease a U.S. registered large
civil aircraft, the lessee MUST notify, by telephone or in person, the:
Answer: FAA FSDO nearest the airport where the flight will originate.
◉ When payments are made by political candidates for air
transportation, what taxes are applicable? Answer: Federal Air
Transportation Excise Taxes
◉ After six months of flying in the company's new aircraft, the CEO
begins flying with key corporate management team members and board
members. How should the aviation department manager assess the risk
potential? Answer: Analyze the frequency of activity, the severity of the
loss, the variation of future loss and the impact of loss to the corporation.