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SAVE International Value Methodology Associate Sample Questions:

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

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

2. Which is the correct order of steps in establishing evaluation criteria?

A) Identify context, define criteria, determine importance, determine range/scale
B) Define criteria, identify context, determine range/scale, determine importance
C) Define criteria, identify context, determine importance, determine range/scale
D) Identify context, define criteria, determine range/scale, determine importance

3. Which of the following defines the effects of time, value, and money, converting all costs to a common reference point in today's dollars?

A) Simple Payback (or Breakeven Point)
B) Present Worth (or Net Present Value)
C) Discount Rate
D) Return on Investment (ROI)

4. Ground rules that support creative brainstorming include:

A) Requesting idea clarification, discussing cost impacts, and considering performance.
B) Encouraging openness to ideas, freewheeling, and recording good ideas.
C) Focusing on quality ideas, discussing their merits, and maintaining momentum.
D) Focusing on prioritized functions, deferring judgment, and improving ideas.

5. Function E is the:

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

Solutions: