As a pilot, during a low visibility approach, what is the purpose of a standard call-out at 500 feet and what should be checked?
The answer to your question depends a little bit on what type of aircraft you're flying. If it's a single engine or multiengine reciprocating engine, I would personally repeat the GUMP "Mental Checklist": Gas, Undercarriage, Mixture, Prop(s) reminder. If you're flying a jet, the checklist would be altered accordingly.
I think the biggest thing to keep in mind is the aircraft is on final approach and will be touching down in just moments; you don't want any unnecessary head movement to be going on at this point. Do a quick mental checklist of the critical factors just to confirm the aircraft is in the proper configuration and that needles or V-Bars are centered on the desired approach.
I'm not aware of anything in the FARs or FAA guidelines that list specifically what the pilot is supposed to be doing at the 500 feet call out, so I think that portion is subjective to your operations. Let me know if you have any other questions.
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