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SAVE International Value Methodology Associate Sample Questions:

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

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

2. Y is pointing to the

A) "OR" Gate
B) Minor Logic Path
C) Critical Logic Path
D) "AND" Gate

3. Which of the following is the risk response strategy for opportunities that seek to increase the probability of an opportunity occurring and/or the magnitude of results being beneficial?

A) Exploit
B) Mitigate
C) Share
D) Enhance

4. The Pareto Principle as applied in the Value Methodology means:

A) 80% of the whole includes 20% of the resources
B) 80% of functions represent 20% of components
C) 20% of risks impact 80% of elements
D) 20% of elements represent 80% of the cost

5. Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?

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

Solutions: