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

2. An unwanted function of a hammer would be:

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

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

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

4. What is the objective of the Creativity Phase?

A) Prioritize improvement ideas
B) Develop improvement ideas
C) Generate improvement ideas
D) Select improvement ideas

5. The Development Phase involves which of the following steps?

A) Determine verb-noun combinations for ideas
B) Assign ideas to VM study team members
C) Prioritize ideas
D) Model the cost of ideas

Solutions: