IADA Broker Exam Sample Questions
and Answers Graded A+
Which of the following is an example aircraft variable cost?
a. Aircraft fuel
b. Hangar
c. Insurance
d. Brokerage fee - Correct answer-a. Aircraft fuel
What is an example of something that would cause diminution of value?
a. Aircraft paint color
b. Base location of aircraft
c. Aircraft ownership
d. damage history - Correct answer-d. damage history
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, Frequently, Aircraft Purchase Agreements contain a provision under which a buyer
may reject the aircraft if it is discovered to have "Material Damage". Material
Damage is:
a. Any event that would require a FAA Form 337 to be issued.
b. A technical term defined by the FARs in CFR, Part 43, Appendix B.
c. A commercial term defined by mutual agreement of the buyer and seller within
the Aircraft Purchase Agreement.
d. Any event that requires a repair that is not defined in the Structural Repair
Manual. - Correct answer-c. A commercial term defined by mutual agreement of
the buyer and seller within the Aircraft Purchase Agreement.
A foreign individual is purchasing a US registered aircraft and would like to
complete a post- closing avionics installation under US FAR's prior to importing
the aircraft to country. In order to accomplish this, the buyer could:
a. Register and import the aircraft to the country of destination and then have a US
DAR in the destination country approve the work under US FARs.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
and Answers Graded A+
Which of the following is an example aircraft variable cost?
a. Aircraft fuel
b. Hangar
c. Insurance
d. Brokerage fee - Correct answer-a. Aircraft fuel
What is an example of something that would cause diminution of value?
a. Aircraft paint color
b. Base location of aircraft
c. Aircraft ownership
d. damage history - Correct answer-d. damage history
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Frequently, Aircraft Purchase Agreements contain a provision under which a buyer
may reject the aircraft if it is discovered to have "Material Damage". Material
Damage is:
a. Any event that would require a FAA Form 337 to be issued.
b. A technical term defined by the FARs in CFR, Part 43, Appendix B.
c. A commercial term defined by mutual agreement of the buyer and seller within
the Aircraft Purchase Agreement.
d. Any event that requires a repair that is not defined in the Structural Repair
Manual. - Correct answer-c. A commercial term defined by mutual agreement of
the buyer and seller within the Aircraft Purchase Agreement.
A foreign individual is purchasing a US registered aircraft and would like to
complete a post- closing avionics installation under US FAR's prior to importing
the aircraft to country. In order to accomplish this, the buyer could:
a. Register and import the aircraft to the country of destination and then have a US
DAR in the destination country approve the work under US FARs.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
