Avia 314- Final Exam UPDATED ACTUAL Questions and CORRECT Answers
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Course
Avia 314
Institution
Avia 314
Avia 314- Final Exam UPDATED ACTUAL
Questions and CORRECT Answers
What has caused the average aviation business person the most trouble in making sound
business deciions? - CORRECT ANSWER- The love of aviation
Considering adjustments to strategic goals would be considered - CORRECT ANSWER-
o...
Avia 314- Final Exam UPDATED ACTUAL
Questions and CORRECT Answers
What has caused the average aviation business person the most trouble in making sound
business deciions? - CORRECT ANSWER- ✔✔The love of aviation
Considering adjustments to strategic goals would be considered - CORRECT ANSWER-
✔✔objectives planning
What does it mean when the text says that marketing is as much an art as a science? -
CORRECT ANSWER- ✔✔No two approaches in marketing are the same. The business
owner must consider many variables before settling on a marketing strategy
How does the function of budgeting change when the budget period begins? - CORRECT
ANSWER- ✔✔Budgeting begins to focus on the controlling of spending
In regard to HR laws and regulations, what are the areas of employment law? - CORRECT
ANSWER- ✔✔Workmen's compensation, workplace safety, and discrimination in the
workplace
Which is a disadvantage for a partnership? - CORRECT ANSWER- ✔✔Liability exposure
Why would for-sale aircraft in inventory greatly influence the company's current ratio? -
CORRECT ANSWER- ✔✔Inventory aircraft are considered an asset
How should the flight line operations of an FBO view flight crews and their passengers? -
CORRECT ANSWER- ✔✔They should be viewed as customers
What operational procedure changes were made in 2005 that allowed for better integration of
GA flying with airspace procedures in other parts of the world? - CORRECT ANSWER-
✔✔Domestic Reduced Vertical Separation Minimums program
, There can be many positions within the maintenance business unit. What are some of the key
responsibilities of the manager of the maintenance unit? - CORRECT ANSWER- ✔✔To
ensure profitability of service
The text mentions layers of insurance. The text also mentions the idea of a reinsurer. Which
company was mentioned as the ultimate reinsurer? - CORRECT ANSWER- ✔✔Lloyd's of
London
The survival of the FBO as a business is tied directly to - CORRECT ANSWER- ✔✔the
survival of the airport.
The Airline Deregulation Act was enacted what year? - CORRECT ANSWER- ✔✔1978
"I'm so busy doing the urgent things that there isn't time to do the important things." -
CORRECT ANSWER- ✔✔This statement is from a manager who struggles with setting
priorities.
Provide an example of a fixed cost. - CORRECT ANSWER- ✔✔Insurance expense.
In regard to selecting employees, when is it a good time to send regret letters to employee
candidates? - CORRECT ANSWER- ✔✔After your chosen candidate has accepted the
position
Since change is inevitable, how should the manager approach the idea of change? -
CORRECT ANSWER- ✔✔The manager should prepare themselves to consider new
approaches. Having the right mindset will make it easier to meet the demands of change.
Where should the manager begin when developing the master plan for a business' information
system? - CORRECT ANSWER- ✔✔The manager should begin by determining the final
products needed for analysis.
Which segment of the FBO business is called the nerve center? - CORRECT ANSWER-
✔✔Front desk
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