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SAVE International Value Methodology Associate Sample Questions:

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

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

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

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

3. Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?

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

4. Function E is the:

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

5. An effective Information Phase kickoff meeting:

A) Discusses the challenges of the proposed VM study approach.
B) Outlines goals for the study subject and VM study objectives.
C) Indicates the VM solutions desired by decision makers.
D) Describes how functions have normally been accomplished.

Solutions: