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SAVE International Value Methodology Associate Sample Questions:

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

2. What is the correct sequence of the last four phases of the Value Methodology Job Plan?

A) Evaluation, Development, Implementation, and Presentation
B) Development, Presentation, Evaluation, and Implementation
C) Evaluation, Development, Presentation, and Implementation
D) Development, Evaluation, Presentation, and Implementation

3. What is the correct sequence of the last four phases of the Value Methodology Job Plan?

A) Evaluation, Development, Implementation, and Presentation
B) Development, Presentation, Evaluation, and Implementation
C) Evaluation, Development, Presentation, and Implementation
D) Development, Evaluation, Presentation, and Implementation

4. 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

5. 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) Return on Investment (ROI)
C) Present Worth (or Net Present Value)
D) Discount Rate

Solutions: