AAAE ACE - Airport Finance - Mod 3 Updated
Certification Test Bank 2025/26 | Real Questions
with Answers
Capital Improvement Plan - A detailed plan that indentifies requirements for the repair,
replacement, and rehabilitiation of facility infrastructure over an extended period, often 20
years or more. A utility usually updates or prepares this plan annually.
Airport Master Plan - 20-year, long-term planning document evaluating current facilities
and aviation demand, forecasts future demand, and safety considerations, and includes airport
layout plan (ALP)
Airport Capital Improvement Plan (ACIP) - Planning tool for identifying, prioritizing, and
assigning funds to critical airport development and capital needs over the next 3-5 years and is
updated annually. Also serves as basis for distribution of AIP grant funds
CatEx (Categorical exclusion) - When an environmental review is not necessary because
there will not be any environmental impact from a project
Environmental Assessment (EA) - Concise document by FAA saying purpose of project,
alternatives available, affected components of environment and consequences and how airport
can mitigate. Requires public consultation period. If no impact, then FAA issued a finding of no
significant impact (FONSI)
Environmental Impact Statement - A comprehensive analysis of environmental impact of
proposed project and consequences and the airport's mitigation plan. Can take multiple years
Airport Layout Plan (ALP) - this document is used to depict existing and future airport
developments, depicts runways, approaches, parking lots, topography, basically all the airport
charts and pictures
Internal Airport Capital Improvement Plan (CIP) - Focuses on airfield development
projects, typically long-term capital program (near-term development plan in a master plan) or
on a rolling basis for a set series of years (typically 5 years). Will identify project costs, cash flow
requirements by year, quarter, or month and a funding plan
Advanced Planning - Goes beyond master planning in level of detail and specifics known
as Program Definition
Certification Test Bank 2025/26 | Real Questions
with Answers
Capital Improvement Plan - A detailed plan that indentifies requirements for the repair,
replacement, and rehabilitiation of facility infrastructure over an extended period, often 20
years or more. A utility usually updates or prepares this plan annually.
Airport Master Plan - 20-year, long-term planning document evaluating current facilities
and aviation demand, forecasts future demand, and safety considerations, and includes airport
layout plan (ALP)
Airport Capital Improvement Plan (ACIP) - Planning tool for identifying, prioritizing, and
assigning funds to critical airport development and capital needs over the next 3-5 years and is
updated annually. Also serves as basis for distribution of AIP grant funds
CatEx (Categorical exclusion) - When an environmental review is not necessary because
there will not be any environmental impact from a project
Environmental Assessment (EA) - Concise document by FAA saying purpose of project,
alternatives available, affected components of environment and consequences and how airport
can mitigate. Requires public consultation period. If no impact, then FAA issued a finding of no
significant impact (FONSI)
Environmental Impact Statement - A comprehensive analysis of environmental impact of
proposed project and consequences and the airport's mitigation plan. Can take multiple years
Airport Layout Plan (ALP) - this document is used to depict existing and future airport
developments, depicts runways, approaches, parking lots, topography, basically all the airport
charts and pictures
Internal Airport Capital Improvement Plan (CIP) - Focuses on airfield development
projects, typically long-term capital program (near-term development plan in a master plan) or
on a rolling basis for a set series of years (typically 5 years). Will identify project costs, cash flow
requirements by year, quarter, or month and a funding plan
Advanced Planning - Goes beyond master planning in level of detail and specifics known
as Program Definition
