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SAVE International Value Methodology Associate Sample Questions:

1. One of the main purposes of the Miles Value Foundation is to:

A) Promote VM education
B) Conduct VM training
C) Improve VM programs
D) Manage VM certification

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

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

3. What is the correct order for the three levels of filters used for evaluating ideas during the Evaluation Phase?

A) Medium, Coarse, Fine
B) Coarse, Medium, Fine
C) Medium, Fine, Coarse
D) Coarse, Fine, Medium

4. If an organization invests $160,000 in a new software system that improves analysis and reduces annual costs by $3,000 per year, the payback period would be approximately:

A) 53 years
B) 56 years
C) 45 years
D) 50 years

5. Which phase enables the VM team to select viable ideas?

A) Development
B) Evaluation
C) Function Analysis
D) Presentation

Solutions: