Practice Test GeeksCP3P - Public-Private Partnership Certification Practice Test
← All CP3P Flashcard Decks

Legal & Regulatory Frameworks Flashcards

7 cards from real CP3P practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Legal & Regulatory Frameworks flashcards as text

  1. How does a relief event typically differ from a compensation event in a PPP contract?

    Answer: Relief events give time relief and protection from default but usually no compensation

    Relief events excuse delays without triggering default, but the private partner generally bears the cost.

  2. Under a Build-Operate-Transfer (BOT) structure, what happens to the asset at the end of the contract term?

    Answer: It is transferred to the public authority, often in a specified handback condition

    BOT contracts require transfer of the asset to the public sector at expiry, subject to handback requirements.

  3. Which US federal statute requires environmental review of major federal actions, including federally funded or approved P3 projects?

    Answer: The National Environmental Policy Act (NEPA)

    NEPA requires environmental assessments or impact statements before federal approval or funding of major projects.

  4. In procurement law, what is the purpose of a standstill period after the award decision?

    Answer: To give unsuccessful bidders time to challenge the award before contract signature

    The standstill period allows effective remedies before the contract is concluded and becomes harder to unwind.

  5. Why do PPP contracts typically restrict assignment of the concession or change of control of the project company?

    Answer: To ensure the authority retains confidence in the capability of the party delivering the service

    The authority selected a specific consortium, so transfers usually need its consent, with carve-outs for lender security.

  6. Which US law prohibits US companies and individuals from bribing foreign officials, which is relevant to US firms bidding on PPPs abroad?

    Answer: The Foreign Corrupt Practices Act (FCPA)

    The FCPA bars bribery of foreign officials and requires accurate books and records for covered companies.

  7. Which federal law requires payment of locally prevailing wages on federally funded construction, including many P3 projects?

    Answer: The Davis-Bacon Act

    Davis-Bacon requires contractors on federally funded construction to pay prevailing local wages and benefits.