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SAVE International Value Methodology Associate Sample Questions:

1. Which type of value is the sum of labor, material, and other resources required to produce the subject?

A) Exchange Value
B) Use Value
C) Esteem Value
D) Cost Value

2. When transforming subject scope information, it is most important that the VM study team have a clear understanding of:

A) the interests and influence of customers, users, and stakeholders.
B) the Pareto chart, risk data, and quality expectations.
C) value improvement ideas and performance attributes.
D) the subject's purpose and the objectives of the VM study.

3. What is the correct sequence of the last four phases of the Value Methodology Job Plan?

A) Evaluation, Development, Implementation, and Presentation
B) Development, Presentation, Evaluation, and Implementation
C) Development, Evaluation, Presentation, and Implementation
D) Evaluation, Development, Presentation, and Implementation

4. An unwanted function of a hammer would be:

A) Transmit vibration
B) Deliver force
C) Apply force
D) Swing arm

5. Which of the following best describes a VM study?

A) Is undertaken after the design is completed
B) It is a structured effort using the VM process to improve value
C) Is considered a business improvement best practice
D) Must be led by a Certified Value Specialist

Solutions: