Final answer:
The duration of Third Class Medical Certificate Privileges for a pilot who is over 40 years old is 24 months.
Step-by-step explanation:
The duration of Third Class Medical Certificate Privileges for a pilot who is over 40 years old is 24 months.
A Third Class Medical Certificate allows a pilot to fly as the pilot in command of an aircraft carrying passengers or property without compensation or hire. It is valid for a duration of 24 months for pilots who are under the age of 40, and for pilots over the age of 40, it is valid for only 24 months from the date of examination.
This means that pilots over the age of 40 must obtain a medical examination every 24 months in order to renew their Third Class Medical Certificate and continue exercising the privileges associated with it.