- Insurance companies may be unwilling to assume (for a premium)risks that lenders are unwilling to accept; and to maximize the benefits of insurance most major international project financings will have an independent insurance advisor to help identify key risks and design the most appropriate insurance package for the project. （ ）
- The project documents relate to the structure, construction and operation of the project, and the finance documents include the loan agreements and other documents needed to obtain equity and debt funding for the project and the related credit support, security and intercreditor arrangements.（ ）
- A fixed lump price contract means that the Contractor covers the contract price accepted by the Employer at the time of bidding.（ ）
- In a unstructured financing, a revenue generating asset (or group of assets) is segregated in order to serve as the source of debt repayment and shift the repayment obligation away from the entity that created the asset to the revenue stream generated by the asset. （ ）
- The funding provided by commercial banks is limited to a single currency. （ ）
- Bond insurance has the effect of decreasing ratings on the covered bond issues, reducing interest rates and minimizing credit risk for bond investors. （ ）
- Additional risks involved in using derivatives While derivatives trading may help mitigate some types of project risks, it may also increase new risks to be monitored. （ ）
- Non-financial factors might include procurement restrictions, control over project management. （ ）
- When an Multilateral development bank(MDB) participates in a project, it is said to create a halo-effect which may give some comfort to private sector lenders. This reflects the fact that the presence of an international agency may be an incentive for the other project participants (including the host government) to act responsibly. （ ）
- Export credit agencies (“ECA’s) are lending institutions created by many developed and developing countries. （ ）
- The main use of derivatives trading in international project financing is to hedge against interest rate, money and commodity price risk. （ ）
- Standardized derivative documents are used to manage derivative transactions to simplify documentation and provide certainty, consistency and efficiency to the market. （ ）
- A classic case of how inconsistency creates problems in a project financing occurs when the force majeure clause in the construction contract with the SPV is broader than the force majeure clause in other project documents the SPV has signed.（ ）
- Mezzanine finance is a type of hybrid financing. （ ）
- All construction contracts shall not have force majeure clauses. （ ）
- Sponsors need to review partners' financial statements during the SPV structuring process （ ）
- The bulk of the equity for an international project financing is provided by the project sponsors. （ ）
- Members of the committees in the construction industry are often engineers or others with appropriate expertise in the construction industry. （ ）
- What do the derivative instrument trading documents include? （ ）
- There are many types of credit support and credit support providers for international projects. They include: （ ）
- Which of the following are the basic forms of derivatives? （ ）
- What are the most common forms of SPV? （ ）
- Which of the following terms （ ） may conflict in different project documents and therefore require careful coordination for all project agreements to work together as a coordinating unit.
- What are the most common payment procedures for a construction contract? （ ）
- Attachment to the Derivative Association (ISDA) master protocol for （ ）.
- What steps are involved in the general SPV project build process?（ ）
- A direct guarantor agrees to assume (in exchange for a guarantee fee) the obligation of a project participant if that participant does not fulfill a monetary obligation or perform as agreed by taking the form of （ ）
- What are the main types of construction contracts？（ ）
- In addition to the typical risks covered by insurance during construction and operation, insurers have become more creative in helping to mitigate project risks, and have developed new types of coverage which are sometimes required by lenders. The new types of insurance could include: （ ）
- The terms lenders typically want to see in project finance concessions include （ ）.
- In short, the project documents work in combination to（ ）.
- What is included in the checklist of the negotiating parties' agreement terms? （ ）
- Some provisions often lead to difficult negotiations between grantor governments and concessionaires, which are often special purpose vehicles for projects. These often controversial provisions include （ ）.
- What are the potential buyers of carbon finance？（ ）
- Need to be maintained when drafting the project documents（ ）,is required the "back-to-back protocol"
- Which party is the shareholder of the multilateral development bank? （ ）
- Who makes the most famous and most commonly used standard contract group for major international projects? （ ）
- The franchise company and its （ ） will often seek a clause that explicitly exempts them so that the host government will not attempt to raise an immunity defense if it is sued.
- How many conditions are included in the checklist of the negotiating parties' agreement terms? （ ）
- What is the long-term goal of carbon financing? （ ）
- What is not included in the approach to achieve the goal when structuring the investment chain? （ ）
- Many host countries require insurance for an international project to be issued by local companies. This raises issues of: （ ）
- Which party often provides specific design specifications and drawings? （ ）
- primarily a common law concept that refers to a change of circumstances that occurs without the fault of any of the parties and which alters the nature of the contractual obligation and makes it incapable of being performed in the way that was called for in the contract,this concept refers to（ ）
- Given that individual concession agreements are （ ） and contentious to negotiate, some governments have developed standard forms of concession agreements for key sectors that they expect private concessionaries to accept.
- Which corporate forms do SPV sponsors generally prefer? （ ）
- When a project earns local currency but has to repay debt in a foreign currency, this may creates: （ ）
- Under the restrictive theory of sovereign immunity, the signing of a concession agreement is generally considered a （ ）, so an explicit waiver of immunity may not be absolutely necessary.
- What is a contract for a fixed-price turnkey contract in an international project financing transaction? （ ）
- Which side does the lender's interests usually align with them? （ ）
- The case used in the derivative transaction documents to require the parties to provide collateral related to their obligations is （ ）.
- In addition to direct and indirect guarantees, other forms of government support sometimes used to facilitate project financings include: （ ）
- The use of surety bonds not only provides financial support for the project from the surety but also involves intensive due diligence by the surety on the quality and capacity of the contractor which provides added assurance to the SPV that the contractor, its subcontractors and suppliers are capable of performing the contract.
- There are many types of credit support and credit support providers for international projects. They include:
- If vitiation were to occur, lenders would possess their right to recover on the policy as a result of the action or inaction by the SPV which was used by the insurer to justify vitiation of the policy.
- Letters of credit can provide support in project financings by backing liquidated damage obligations, debt service reserve obligations, and equity contribution commitments.
- Mezzanine capital (or hybrid finance) has a mix of the equity and debt characteristics includes: preferred shares; subordinated debt; zero coupon bonds; and convertible debt. （ ）
- The sponsor and its financial advisor will be working on arranging finance. Work will be undertaken in a number of inter-related areas.These areas include:（ ）
- Many development institutions and governments have established project preparation facilities to provide funding for feasibility, preparatory and procurement activities. Examples include:（ ）
- In many cases there is a public issue of equity, and occasionally the host government provides equity either in cash or in-kind. （ ）
- The financial model consists of a series of worksheets that serve as the basis for preparing a spreadsheet that can be used to create a series of alternative scenarios, sensitivity analyses or stress tests that illustrate how project performance and the revenue stream might be affected by changes in key project variables like interest rates, loan maturity, the debt-equity ratio and project costs and revenues. （ ）
- The construction process for major international project finance transactions involves three key parties——（ ）
- “Bankable” in this context means that the concession agreement contains provisions that, inter alia , enable lenders to protect their interests in the project and ensure full repayment of their loans in the event of termination of the concession. （ ）
- Concessions will not establish a specific date for completion of the project and require the concessionaire to pay liquidated damages if the project is delayed beyond the specified date. （ ）
- Under EPC contract the contractor receives a fixed amount for its services even if the actual total cost of the project exceeds the price that has been agreed in the contract. （ ）
- “Relief event” is a term used to refer to an event that, if it occurs, might（ ）
- A typical process for reaching decisions on how sponsor ownership should be structured and governed would involve:（ ）
- In a unsolicited bid process known as a “Swiss challenge”, the original proponent may seek to have the costs it incurred in preparing the proposal reimbursed by the government or the winning bidder. （ ）
- The concept of a （ ） was described as a contractual arrangement in which a private sector party is given a right to participate in a project to provide public services that were traditionally provided by governments.
- The choice of the most appropriate method depends on such factors as （ ）
- Procurement for many projects, especially in the infrastructure sector, is often done in two stages.What are they? （ ）
- The potential disadvantages of project finance include: （ ）
- Which one is not part of a larger family of financial techniques known as structured finance.? （ ）
- The three main advantages of project finance that often offset the considerable disadvantages for the sponsor are: （ ）
- What is the difference between corporate and sovereign finance? （ ）
- In the case of project financing, the cash flow generated by an asset or pool of assets is used as the basic source of loan repayment rather than the balance sheet of the originator of the transaction. （ ）
- One of the major challenges of the early twenty first century will be financing the massive investment required to expand the infrastructure needed for economic growth in both developed and emerging market economies.
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