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SAVE International Value Methodology Associate Sample Questions:

1. The original VM Job Plan was based on a problem-solving approach. Which is the correct order of the four steps comprising this approach?

A) Hypothesis, Observation, Experimentation, Conclusion
B) Observation, Hypothesis, Experimentation, Conclusion
C) Hypothesis, Experimentation, Observation, Conclusion
D) Observation, Experimentation, Hypothesis, Conclusion

2. "When" is represented by which of the following letters?

A) C
B) B
C) A
D) D

3. Which function is located to the left of the left vertical line in a FAST diagram?

A) Lower Order Function
B) Higher Order Function
C) Secondary Function
D) Basic Function

4. The Value Methodology is:

A) A cost reduction exercise to improve value.
B) An eight-phase process to improve value.
C) A suggestion program to improve value.
D) A step-by-step design review to improve value.

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

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

Solutions: