FAA Part 107 Drone Exam Prep 10, Accident Reporting — The 10-Day, $500 Rule

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An FAA Part 107 accident report is required within 10 calendar days if specific injury or damage thresholds are met. - Any loss of consciousness, no matter how brief, automatically triggers the injury reporting requirement. - Property damage must exceed $500 to require a report, based on the lesser of repair cost or fair market value. - The value of the drone itself is explicitly excluded when calculating the $500 property damage threshold. - Reports must be submitted electronically via the official FAA DroneZone portal. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep