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AAAE ACE Airport Finance Module 1 – Comprehensive Exam Test Questions and Answers Comprehensive Certification Study Guide

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This document provides a comprehensive study guide for AAAE ACE Airport Finance Module 1, featuring exam-style test questions and answers aligned with the Airport Certified Employee (ACE) Airport Finance certification objectives. It covers essential airport finance topics including financial management principles, airport revenue sources, budgeting, financial statements, capital improvement planning, airport funding programs, rates and charges, accounting fundamentals, regulatory compliance, and airport business operations. The guide is designed to reinforce core airport finance concepts, strengthen analytical and financial decision-making skills, and help candidates prepare confidently for the AAAE ACE Airport Finance Module 1 certification examination.

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AAAE ACE Finance Module 1 – Comprehensive Exam
Test Questions and Answers 100% Guaranteed Pass


1. True: True/False - The potential of aviation to reshape local and national economies was recognized very early following the
Wright Brother's first flight at Ḱitty Hawḱ, NC in 1903.
2. False: True/False - Airport development was viewed as a national responsibility.
3. True: True/False - The federal government began providing financial support to airports through grants for capital
development through the FAA beginning in 1938.
4. Airport Improvement Program (AIP): The funding system in which the FAA provides financial support to
airports through grants for capital development.
5. Airports, airspace and aircraft: The three primary components of the national air transportation system are:
6. Airport: An area of land or water that is designed to be used for the landing and/or taḱeott of an aircraft.
7. National Plan of Integrated Airport Systems (NPIAS): Classifies airports by activity levels and whether
they receive scheduled commercial air service; biennial.
8. Primary or Non-Primary: The FAA groups airports into one of two main categories:
9. Primary Airport: Airports with scheduled air carrier service and 10,000 or more enplaned passengers/year.
10. Large hub, medium hub, small hub and non-hub: Primary airports are further classified as
, , , or , according to their relative shares of national passenger traflc.
11. National, regional, local, basic or unclassified: Non-primary airports are further classified as:
12. Airside and Landside: Most commercial service airports consist of the following two categories of facilities:
13. Landside: "Pre-Security," public access area prior to TSA screening.
14. Airside: "Post-Security," the area that can be accessed only after going through TSA screening or other security protocols.
15. Runway and taxiway: An airport's airfield consists of its and system designed to facilitate the
movement of aircraft.
16. True: True/False - To facilitate safe taḱeott and landing operations, primary runways are oriented in the direction of an airport's
prevailing winds throughout the year.
17. 10: Runways are identified by their degrees from magnetic north, divided by .
18. 8,000; 150: Runways at commercial air service airports are typically at least feet in length and
1/7

, feet in width.
19. NAVAIDS: Located on airport property to assist aircraft approaching the airport for landing, based on satellite GPS.




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