Page 1 of 84
AAAE C.M. EXAM (CERTIFIED MEMBER) |
{LATEST 2026/ 2027 UPDATE} COMPLETE
ACTUAL AND AUTHENTIC EXAM | BRAND NEW!
Airport Sponsor
1. Governing body of the airport
2. any public agency or private owner of a public use airport
3. often operated by a board or elected or appointed officials
4. act as policy makers establishing broad goals and objectives
5. strategic leaders of the airport
Bonds
interest bearing obligations issued by state or local govt.
Categories of Bonds:
1. General Obligation (G.O.) -reaquire voter approval, issuer will back
bonds as necessary (levy property, sales, or income taxes), issued at
lower interest rate fue to community guarantee
2. Revenue Bonds-issued by state, municipality. authority or unit who
has required statutory authority. Based on belief that facilities should
be paid for by those who use them and backed by revenue from
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issuing agency. do not require voter approval, can have 25-30 yr term
with lower monthly payments
3. Special Facility Bonds-issued by Airport's Sponsor to get tax exempt
status. Secured by revenue from the facility (terminal, hangar, or
maintenance facility)
4. Hybrid Source Bonds-Revenue bonds combined with PFCs, CFCs,
G.O. or other pledge to fund a project.
Pledges are from 2 revenue streams (both can receive credit rating):
issuers full faith and credit is pledged to meet debt service and
revenues are expected to cover requirements
5. Industrial Development Bonds-revenue bonds that the credit and
repayment source is the private entity for which the facilities are
financed
State Aviation Grant Programs
DOT in each state issues grants through aviation fuel taxes or other
sources. money can be used to match AIP Grant and airports not in
NPIAS can receive funds
Airport Executive
An individual (airport director or manager)
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Airport Operator
Airport management structure overall (Sponsor, Executive &
personnel essential to the operation)
Airports Customers-Pilots
Airport must first serve and understand the pilot
Airport Executive Skills
Strategy, marketing, finance, accounting, operations management,
organizational behavior and human resources
Air Mail Act/Kelly Act of 1925
1. authorized postmaster general to contract airmail to private
companies that were commercial air carriers
2. only those who use aviation pay for it.
Fixed Base Operator (FBO)
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Get fuel, conduct flight planning and take care of pilots needs
Air Commerce Act of 1926
1. legislation creating of regulation of civil aviation establishing safety
standards
2. created the Aeronautics Branch
3. prohibited use of federal funds to build or improve airports
Aeronautics Branch (renamed Bureau of Air Commerce)
Under Department of Commerce
1. fostering commerce (important)
2. issuing and enforcing air traffic rules.
3.licensing pilots
4. certifying aircraft
5. establishing airways
6.operating and maintaining nav aids
-Now all responsibility of FAA
AAAE C.M. EXAM (CERTIFIED MEMBER) |
{LATEST 2026/ 2027 UPDATE} COMPLETE
ACTUAL AND AUTHENTIC EXAM | BRAND NEW!
Airport Sponsor
1. Governing body of the airport
2. any public agency or private owner of a public use airport
3. often operated by a board or elected or appointed officials
4. act as policy makers establishing broad goals and objectives
5. strategic leaders of the airport
Bonds
interest bearing obligations issued by state or local govt.
Categories of Bonds:
1. General Obligation (G.O.) -reaquire voter approval, issuer will back
bonds as necessary (levy property, sales, or income taxes), issued at
lower interest rate fue to community guarantee
2. Revenue Bonds-issued by state, municipality. authority or unit who
has required statutory authority. Based on belief that facilities should
be paid for by those who use them and backed by revenue from
,Page 2 of 84
issuing agency. do not require voter approval, can have 25-30 yr term
with lower monthly payments
3. Special Facility Bonds-issued by Airport's Sponsor to get tax exempt
status. Secured by revenue from the facility (terminal, hangar, or
maintenance facility)
4. Hybrid Source Bonds-Revenue bonds combined with PFCs, CFCs,
G.O. or other pledge to fund a project.
Pledges are from 2 revenue streams (both can receive credit rating):
issuers full faith and credit is pledged to meet debt service and
revenues are expected to cover requirements
5. Industrial Development Bonds-revenue bonds that the credit and
repayment source is the private entity for which the facilities are
financed
State Aviation Grant Programs
DOT in each state issues grants through aviation fuel taxes or other
sources. money can be used to match AIP Grant and airports not in
NPIAS can receive funds
Airport Executive
An individual (airport director or manager)
,Page 3 of 84
Airport Operator
Airport management structure overall (Sponsor, Executive &
personnel essential to the operation)
Airports Customers-Pilots
Airport must first serve and understand the pilot
Airport Executive Skills
Strategy, marketing, finance, accounting, operations management,
organizational behavior and human resources
Air Mail Act/Kelly Act of 1925
1. authorized postmaster general to contract airmail to private
companies that were commercial air carriers
2. only those who use aviation pay for it.
Fixed Base Operator (FBO)
, Page 4 of 84
Get fuel, conduct flight planning and take care of pilots needs
Air Commerce Act of 1926
1. legislation creating of regulation of civil aviation establishing safety
standards
2. created the Aeronautics Branch
3. prohibited use of federal funds to build or improve airports
Aeronautics Branch (renamed Bureau of Air Commerce)
Under Department of Commerce
1. fostering commerce (important)
2. issuing and enforcing air traffic rules.
3.licensing pilots
4. certifying aircraft
5. establishing airways
6.operating and maintaining nav aids
-Now all responsibility of FAA
