Hi WantToGolf,
You are correct in stating the VI can enable the DAQ board (or DSA) to supply an IEPE excitation current for the accelerometer, however the "no excitation" in the name of SVXMPL_Baseband FRF (DAQmx - no excitation).vi stems from the fact the stimulus signal is not coming from the DAQ/DSA board. Rather, you are providing the stimulus from the impulse hammer.
In comparison, a VI such as SVXMPL_Baseband FRF (DAQmx AI and AO).vi will send a stimulus signal from Analog Output 0. This signal would be cabled to both Analog Input 0 and the DUT. The response, detected by the accelerometer, would be cabled to Analog Input 1 just like in your application.
Best regards,
Chad AE
Applications Engineer