Mock Airlaws Terms

book value

book value

The recorded current value of an asset is known as:

A. scrap value

B. book value

C. salvage value

D. present worth

interest rate

The ratio of the interest payment to the principal for a given unit of time and is usually expressed as a percentage of the principal is known as:

A. investment

B. nominal interest

C. interest

D. interest rate

straight line method

A method of depreciation whereby the amount to recover is spread over the estimated life of the asset in terms of the periods or units of output is called:

A. SOYD method

B. declining balance method

C. straight line method

D. sinking fund method

rate of return

The interest rate at which the present worth of cash flow on a project is zero, or the interest earned by an investment.

A. rate of return

B. effective rate

C. nominal rate

D. yield

depletion

The lessening of the value of an asset due to the decrease in the quantity available. This refers to the natural resources such as coal, oil, and timber in the forest.

A. depreciation

B. depletion

C. inflation

D. incremental cost

sinking fund method

The method of depreciation where a fixed sum of money is regularly deposited at compound interest in a real or imaginary fund in order to accumulate an amount equal to the total depreciation of an asset at the end of the asset's estimated life is known as:

A. straight line method

B. SYD method

C. declining balance method

D. sinking fund method

annuity

The term used to express the series of uniform payments occurring at equal interval of time is:

A. compound interest

B. annuity

C. perpetuity

D. depreciation

economic return

The profit derived from a project or business enterprise without

consideration of obligations to financial contributors and claims of others based on profit is known as:

A. yield

B. earning value

C. economic return

D. expected yield

amortization

As applied to capitalized asset, the distribution of the initial cost by periodic changes to operation as in depreciation or the reduction of the depth by either periodic or irregular prearranged program is called:

A. amortization

B. annuity

C. depreciation

D. capital recovery

oligopoly

A condition where only few individuals produce a certain product and that any action of one will lead to almost the same action of the others.

A. oligopoly

B. semi-oligopoly

C. monopoly

D. perfect competition

perfect competition

This occurs in a situation where a commodity or service is supplied by a number of vendors and there is nothing to prevent additional vendors entering the market.

A. perfect competition

B. monopoly

C. oligopoly

D. elastic demand

market value

It is the amount that a willing buyer will pay to a willing seller for a property where each has equal advantage and is under no compulsion to buy or sell.

A. fair value

B. use value

C. market value

D. book value

utility

It is defined to be the capacity of a commodity to satisfy human want.

A. discount

B. luxuries

C. utility

D. necessity

book value

The worth of a property, which is equal to the original cost less depreciation, is known as:

A. earning value

B. scrap value

C. book value

D. face value

economic life

The length of time during which the property may be operated at a profit is called:

A. life

B. length of time

C. physical life

D. economic life

Deflation

Reduction in the level of national income and output usually accompanied by the fall in the general price level.

A. Deflation

B. Depreciation

C. Devaluation

D. Inflation

Salvage Value

Estimated value at the end of the useful life.

A. Book value

B. Fair value

C. Market value

D. Salvage value

Interest

Money paid for the use of borrowed capital.

A. Credit

B. Interest

C. Discount

D. Profit

effective interest

The true value of interest rate computed by equations for compound interest for a 1 year period is known as

A. effective interest

B. expected return

C. interest

D. nominal interest

Partnership

An association of two or more individuals for the purpose of operating a business as co-owners for profit.

A. Company

B. Corporation

C. Partnership

D. Sole proprietorship

Cooperative

A form of business firm which is owned and run by a group of individuals for their mutual benefit.

A. Cooperative

B. Corporation

C. Enterprise

D. Partnership

Coupon

A document which shows the legal ownership of financial security and entitled to payments thereon.

A. Bond

B. Consol

C. Contract

D. Coupon

Coupon

A document that shows proof of legal ownership of a financial security.

A. Bank note

B. Bond

C. Check

D. Coupon

Sole proprietorship

Is the simplest form of business organization.

A. Corporation

B. Enterprise

C. Partnership

D. Sole proprietorship

Corporation

A distinct legal entity which can practically transact any business transaction which a real person could do.

A. Corporation

B. Enterprise

C. Partnership

D. Sole proprietorship

Investment

Which is not an example of an intangible asset?

a. Brand recognition

b. Goodwill

c. Trademarks

d. Investment

major repairs and major alterations

An FAA Form 337 is used to record and document _____.

a. preventive and unscheduled maintenance and special inspections

b. major and minor repairs and alterations

c. major repairs and major alterations

d. minor inspections

Aircraft logbook

In which book would you expect to find a CMR, a maintenance statement, a sector record, and a deferred defect?

a. Aircraft logbook

b. Supplemental certificate

c. Technical logbook

d. Updated flight manual

ATA 78

Thrust reversers are under

a. ATA 75

b. ATA 76

c. ATA 77

d. ATA 78

Rome

Which convention deals with the unification of rules related to damage caused by aircraft to third parties on the surface?

a. Guadalajara

b. Hague

c. Rome

d. Tokyo

Civil Aeronautics Board

The power to regulate the economic aspect of air transportation is with the _____.

a. Civil Aviation Authority of the Philippines

b. Civil Aeronautics Board

c. Department of Transportation and Communication

d. Philippine Aerospace Development Corporation

green

For night landing, the thresholds are lighted _____.

a. blue

b. green

c. red

d. yellow

50 cm

What is the correct height of marking to be painted on a lighter-than-air aircraft?

a. 30 cm

b. 40 cm

c. 48 cm

d. 50 cm

Civil Aeronautics Board

Issuance of the Certificate of Public Convenience is the duty of _____.

a. Civil Aviation Authority of the Philippines

b. Civil Aeronautics Board

c. Department of Transportation and Communication

d. Philippine Aerospace Development Corporation

7600

What is the secondary surveillance radar code for radio failure or lost communications?

a. 2200

b. 7500

c. 7600

d. 7700

yellow; white

Per ICAO, markings on the taxiways and runways are painted _____, respectively.

a. white; white

b. yellow; yellow

c. white; yellow

d. yellow; white

7

In R.A. 9497, the Board Members are composed of many persons?

a. 2

b. 3

c. 5

d. 7

2nd

An airline is planning a flight that will require a technical landing in a

neighboring state. Which freedom of the air will be exercised?

a. 1st

b. 2nd

c. 3rd

d. 4th

Relations with the Public

He shall express his opinion on an engineering subject only when he is fully familiar and knowledgeable of all facts relating to the subject.

a. Relations with the Clients and Employers

b. Relations with the Engineers

c. Relations with the Profession

d. Relations with the Public

July 1983

The first licensure examination for aeronautical engineers was conducted by the PRC last _____.

a. July 1982

b. July 1983

c. November 1982

d. November 1983

Planning

This is a function that lays the groundwork for all other functions.

a. controlling

b. directing

c. planning

d. organizing

14 CFR Part 43

Each person performing an annual or 100-hour inspection shall use a checklist that contains at least those items in the appendix of ____.

a. 14 CFR Part 43

b. 14 CFR Part 65

c. 14 CFR Part 91

d. AC 43.13-3

14 CFR 65

Which part of the Federal Aviation Regulations prescribes the requirements for issuing mechanic certificates and associated ratings and the general operating rules for the holders of these certificates and ratings?

a. 14 CFR 43

b. 14 CFR 65

c. 14 CFR 91

d. AC 43.13-3

Planning

What management functions refers to the process of anticipating problems, analyzing them, estimating their likely impact and determining actions that will lead to the desired outcomes and goals?

A. Planning

B. Leading

C. Controlling

D. Organizing

Organizing

What refers to the establishing interrelationships between people and things in such a way that human and materials resources are effectively focused toward achieving the goal of the company?

A. Planning

B. Leading

C. Controlling

D. Organizing

Controlling

Actual performance normally is the same as the original plan and therefore it is necessary to check for deviation and to take corrective action. This action refers to what management function?

A. Organizing

B. Planning

C. Controlling

D. Staffing

Staffing

What management function involves selecting candidates and training personnel?

A. Organizing

B. Staffing

C. Motivating

D. Controlling

Directing

What management function involves orienting personnel in the most effective way and channeling resources?

A. Directing

B. Planning

C. Organizing

D. Leading

Leading

What refers to management function which is to encourage others to follow the example set for them, with great commitment and conviction?

A. Directing

B. Motivating

C. Controlling

D. Leading

Motivating

What refers to a principal function of lower management which is to instill in the workforce a commitment and enthusiasm for pursuing the goals of the organization?

A. Directing

B. Motivating

C. Leading

D. Controlling

Air Operator Certificate

A certificate authorizing an operator to carry out specified commercial air transport operations.

A. Certificate of Public Convenience

B. Certificate of Airworthiness

C. Air Operator Certificate

D. TCDS

Minimum Equipment List

A list which provides for the operation of aircraft, subject to specified conditions, with particular equipment inoperative, prepared by an operator in conformity with the aircraft type.

A. Maximum Equipment List

B. Component Deviation List

C. Minimum Equipment List

D. Master Equipment List

book value

Remaining capital investment in an asset after depreciation is accounted for

A. Book Value

B. Salvage Value

C. Sale Value

D. Trade Value

Quality Manager

The manager, acceptable to the authority, responsible for the management of the quality system, monitoring function and requesting corrective actions.

A. Quality Assurance

B. Quality Manager

C. Accountable Manager

D. Quality Engineer

Commuter

The following can be type certificated in more than one category except?

A. Normal

B. Acrobatic

C. Utility

D. Commuter

INAEC

It was the first Filipino owned private airlines in the Philippines

A. SAEP

B. INAEC

C. PAL

D. CEBU PAC

RP

The standard identification marking for the aircraft registered in the Philippines

A. RP

B. RO

C. PR

D. PH

Council

It is a governing body under ICAO that is composed of 33 contracting states elected by the assembly

A. Secretariat

B. Board

C. Council

D. Staff

Class 3

The applicant for an air traffic controller must hold what type of medical certificate?

A. Class 1

B. Class 2

C. Class 3

D. Class 4

Secretary of DOTC

Who is the acting chairman of CAAP?

A. Secretary of DILG

B. Secretary of DPWH

C. Secretary of DOTC

D. the Director General

17 years old

An applicant for private pilot license must not be less than?

A. 15

B. 16

C. 17

D. 18

V1

It means Decision speed

A. VD

B. V1

C. V2

D. VR

Normal, Utility, Aerobatic and Commuter Category Aircraft

JAR 23 is

A. Propellers

B. Noise Standards

C. Engines

D. Normal, Utility, Aerobatic and Commuter Category Aircraft

SAEP

The recognized organization of aeronautical engineers in the Philippines by PRC

A. SIAEP

B. SAEP

C. ISAA

D. SAE

Gen. Ricardo Albano

First registered aeronautical engineer in the Philippines is?

A. Gregorio Y Sara

B. Teofilo Alberto

C. Timoteo Cordova

D. Gen. Ricardo Albano

Chicago Convention

It established the International Civil Aviation Organization (ICAO)

A. Montreal Convention

B. Hague Convention

C. Chicago Convention

D. Tokyo Convention

Organizing

It may be defined as the process of logical grouping activities, delineating authority and responsibility, and establishing working relationship that enable the employees, and thus the entire unit, to work with maximum efficiency

A. Organizing

B. Staffing

C. Leading

D. Controlling

Salvage Value

Expected trade-in, market, or scrap value at the end of estimated life or the study period. In replacement study, the defender's estimated market value at the end of a year is considered its "first cost" at the beginning of the next year

A. Book Value

B. Salvage Value

C. Sale Value

D. Trade Value

Two members excluding the chairman

The board of Aeronautical Engineering is composed of

A. One member and a chairman

B. Three members excluding the chairman

C. Two members excluding the chairman

D. Three members with no chairman

Civil Aeronautics Act of Philippines

The title of Republic Act No. 776 is?

A. Civil Aviation Act of the Philippines

B. Civil Aeronautics Act of the Philippines

C. Civil Aeronautics Act of 2008

D. Civil Aviation Act of 2008

Section 23

The suspension and revocation of certificate in PD 1570 is found on what section?

A. Section 20

B. Section 21

C. Section 22

D. Section 23

9th Freedom

Known as the Stand Alone Cabotage

A. 5th Freedom

B. 6th Freedom

C. 8th Freedom

D. 9th Freedom

PART 5

Airworthiness is under what part of PCAR?

A. PART 4

B. PART 5

C. PART 6

D. PART 7

Decision ALtitude

A specified altitude or height in the precision approach or approach with vertical guidance at which a missed approach must be initiated if the required visual reference to continue the approach has not been established.

A. Decision Approach

B. Reapproach Height

C. Decision Altitude

D. Landing Phase Altitude

Critical Engine

The engine whose failure would most adversely affect the performance or handling qualities of an aircraft

A. Accident Engine

B. Critical Engine

C. Hazard Engine

D. Danger Engine

Certifying Staff

EASA Part 66 is?

A. Certifying Staff

B. Design Requirements

C. Maintenance

D. Operations

Maneuvering Speed

VA stands for?

A. Maneuvering Speed

B. Stalling Speed

C. Approach Speed

D. Take-off Speed

Fuel

Which of the following is not included in the empty weight?

A. Fuel

B. Oil

C. Hydraulic Fluid

D. Fixed Ballast

37.5 fps

The value of gust for 35,000 ft under PART 23 at VC is?

A. 32 fps

B. 37.5 fps

C. 35.5 fps

D. 38 fps

35 ft

The total take off roll shall include the distance required to clear an obstacle of _______ for multiengine transport aircraft

A. 50 ft

B. 40 ft

C. 35 ft

D. 25 ft

Tokyo Convention

A convention on 1963 on the "Offenses and Certain other Acts Committed on Board Aircraft"

A. Montreal Convention

B. Hague Convention

C. Chicago Convention

D. Tokyo Convention

Breakeven Point

The quantity at which total revenue and total cost are equal. or two other alternatives are equivalent

A. Equilibrium

B. Breakeven Point

C. Surplus

D. Income

50 billion Pesos

The authorized capital stock of CAAP is?

A. 50 million pesos

B. 50 billion pesos

C. 5 million pesos

D. 5 billion pesos

Oligopoly

It is an industry composed of a few firms producing either similar or differential products

A. Monopoly

B. Oligopoly

C. Economy

D. Market

March 04, 2008

RA 9497 was signed on?

A. June 11, 1978

B. May 04, 2009

C. March 04, 2008

D. April 06, 2012

Opportunity Cost

An imaginary cost representing what will not be received if a particular strategy is rejected

A. Initial Cost

B. Opportunity Cost

C. Replacement Cost

D. Sunk Cost

Section 3

"As a witness before the court, commission, and/or other tribunal, he shall express an opinion only when it is founded on adequate and honest conviction." The above statement is under which section of the Code of Professional Ethics?

A. Section 1

B. Section 2

C. Section 3

D. Section 4

ATA 27

In which ATA Chapter does the systems which protects the control surfaces from movement by wind while the aircraft is on the ground belong?

A. ATA 21

B. ATA 32

C. ATA 27

D. ATA 44

Subchapter E

Special Use Airspace belongs to which FAR Subchapter?

A. Subchapter C

B. Subchapter D

C. Subchapter E

D. Subchapter F

Section 18

Report of Ratings is located on which section of PD1570?

A. Section 12

B. Section 18

C. Section 22

D. Section 25

Clearway

Rectangular area off the departure end of the runway that is suitable for use in calculating aircraft takeoff performance (ground effect)

A. Apron

B. Tarmac

C. Clearway

D. Ramp

Controlling

It is a function of management that includes measuring and correcting of activities of subordinates to ensure that events conform to plans

A. Directing

B. Leading

C. Controlling

D. Planning

Going Value

An intangible value which is actually operating concern has due to its operation

A. Book Value

B. Fair Value

C. Going Value

D. Goodwill Value

Satellite

A type of aerodrome terminal configuration in which the building is separated from the main building so that aircrafts can park around it

A. Linear

B. Pier

C. Concourse

D. Satellite

Havana Convention 1928

Which of the following Conventions formed the International Commission for Air Navigation (ICAN)?

A. Paris Convention 1919

B. Havana Convention 1928

C. Warsaw Convention 1929

D. The Hague Convention 1933

6th Freedom

"It is the right or privilege, in respect of scheduled international air services, of transporting, via the home State of the carrier, traffic moving between two other states." In which freedom does the statement above described?

A. 4th Freedom

B. 5th Freedom

C. 6th Freedom

D. 7th Freedom

ICAO

The Chicago Convention of 1944 created which organization?

A. ICAN

B. IATA

C. ICAO

D. CAA

Staffing

It involves stationing people to work in the positions provided for by the organizational structure

A. Organizing

B. Staffing

C. Controlling

D. Planning

Civil Aircraft

It means any aircraft other than a public aircraft

A. Commercial Aircraft

B. Civil Aircraft

C. Private Aircraft

D. General Aviation Aircraft

Secretary of Tourism

The following are members of the board of the Civil Aeronautics Authority, Except.

A. Secretary of Justice

B. Secretary of Foreign Affairs

C. Secretary of Finance

D. Secretary of Tourism