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SAVE International Value Methodology Associate Sample Questions:

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

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

2. Which of the following techniques involves capturing input from multiple customers and stakeholders at the same time?

A) Focus panels
B) Surveys
C) Questionnaires
D) Interviews

3. 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) Observation, Experimentation, Hypothesis, Conclusion
B) Observation, Hypothesis, Experimentation, Conclusion
C) Hypothesis, Observation, Experimentation, Conclusion
D) Hypothesis, Experimentation, Observation, Conclusion

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

5. What is the term for the vertical demarcations on the left and right of a FAST diagram?

A) Subject Lines
B) Scope Lines
C) When Direction Lines
D) Function Logic Lines

Solutions: