Question one. Choose the right answer. 1) The process used to ensure that the oil compary accomplishes exptoration efficiently is: a) Appraisal b) Gauging c) Relinquishment 2) The fiscal toolkits are: a) Common for all types of contracts b) Differ from contract type to another c) Are distinct in a particular type of contract 3) Service fees are: a) The compensation paid by a state to an IOC for the performance of services under a risk service contract b) The compensation paid by a state to an operator for the performance of services under a risk service contract 4) Is the NOC allowed to grant rights to others in the petroleum contacts? a) Yes b) No 5) Qualified experts are needed to conduct some assessments, who appoints them? a) The IOC selects them b) The HG selects them c) The IOC selects them and sometimes the HG approves their selection 6) Production period work programs need the approval of the HG a) True b) False