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SAVE International Value Methodology Associate Sample Questions:
1. In which costing technique is the time value of money essential?
A) Life Cycle Cost
B) Return on Investment
C) Break-even point
D) Simple Payback
2. When transforming the VM study subject's cost information, the potential for achieving major savings is:
A) Enhanced when outputs are included in calculations
B) Greatest during the early phases of the project lifecycle
C) Increased when the VM proposals improve performance
D) Improved when costs are aligned with scope increases
3. What is the objective of the Creativity Phase?
A) Develop improvement ideas
B) Generate improvement ideas
C) Select improvement ideas
D) Prioritize improvement ideas
4. Which type of value is the sum of labor, material, and other resources required to produce the subject?
A) Use Value
B) Exchange Value
C) Esteem Value
D) Cost Value
5. A Random Function Identification table contains:
A) Costs, time, and risks
B) Elements, functions, and classifications
C) Inputs, objectives, and sequence
D) Components, resources, and criteria
Solutions:
Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: B |
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