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SAVE International Value Methodology Associate Sample Questions:

1. The Value Methodology is:

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

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

3. Which type of value is the sum of labor, material, and other resources required to produce the subject?

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

4. Which of the following is a basic function of a bicycle?

A) Provide Transportation
B) Transport Mass
C) Move People
D) Transport Goods

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

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

Solutions: