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TeachMeFinance.com - explain field exercise field exercise 'field exercise' is an military term. It means '(DOD,NATO) An exercise conducted in the field under simulated war conditions in which troops and armament of one side are actually present, while those of the other side may be imaginary or in outline. See also command post exercise'. Previous 5 Terms: federal supply class management feint_ fender _ ferret- field artillery - Next 5 Terms: field fortifications field headquarters_ field of fire _ field of view- field of view - Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.