1. NPV can be used as an outcome variable in a sensitivity analysis. True or False 2. Evaluating the statement: Overestimation of the net benefit of a high-speed rail project due to optimised demand predictions is an example of omission errors.

• True
• False

3.Which of the following options in relation to the source of error in predicting impacts is correct?

		Omitting a positive externality will overestimate net benefits in the social CBA.
		Valuing the cost of labour using market price will overestimate net benefits in the social CBA.
		Overstating environmental cost of a project will underestimate net benefits in the social CBA.
		Valuing the cost of labour using shadow prices will underestimate net benefits in the social CBA.

• Which of the following methods is anAlternative Pricing Approach?

		Travel Cost Method
		Avoided Cost Method
		Contingent Valuation Method
		Hedonic Pricing Method