14. The underlying rationale of sensitivity analysis lies in: a) the creation of a large number of scenarios to show the level of depth attained by the advisor in designing the initiative. b) the evaluation of the effects which derive from variations of all variables that can impact project cash flows. c) the evaluation of the effects which derive from variations in key variables that impact the project. 15. A frustrated contract is a contract that, before to its formation, and without fault of either party, is incapable of being performed due to an unforeseen event (or events), resulting in the obligations under the contract being radically different from those contemplated by the parties to the contract. a) True b) False 16. During the construction phase of the project, the independent technical advisor is usually called on to: a) give an opinion on the technical feasibility of the project. b) express a non-binding opinion on whether the right technical choices have been made. c) issue certification on the progress of works. 17. From a legal standpoint, building a project finance deal requires: a) specialized expertise in a wide variety of fields. b) a huge quantity of work which is spread out over a very long time horizon. (In fact, activating a project finance initiative is extremely time-consuming.) c) knowledge of relevant legislation rather than prior experience in the field. 18. Usually, at a chronological (time wise) level, legal advisors first participate in a project: a) when the project financing is being defined. b) when the group of sponsors is being formed. c) when the project is being set up as an industrial development initiative