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SAVE International Value Methodology Associate Sample Questions:

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

A) An analysis of a completed project design by a VM team
B) A structured effort by a multidisciplinary team using the VM
C) A workshop that applies the VM facilitated by a CVS
D) An improvement process similar to Lean Six Sigma

2. In which costing technique is the time value of money essential?

A) Return on Investment
B) Break-even point
C) Simple Payback
D) Life Cycle Cost

3. Which phase enables the VM team to select viable ideas?

A) Function Analysis
B) Presentation
C) Development
D) Evaluation

4. What is the correct order for the three levels of filters used for evaluating ideas during the Evaluation Phase?

A) Medium, Coarse, Fine
B) Medium, Fine, Coarse
C) Coarse, Fine, Medium
D) Coarse, Medium, Fine

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

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

Solutions: