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SAVE International VMA Exam Syllabus Topics:

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) Improve VM programs
C) Conduct VM training
D) Manage VM certification

2. When transforming the VM study subject's cost information, the potential for achieving major savings is:

A) Increased when the VM proposals improve performance
B) Improved when costs are aligned with scope increases
C) Enhanced when outputs are included in calculations
D) Greatest during the early phases of the project lifecycle

3. An unwanted function of a hammer would be:

A) Swing arm
B) Deliver force
C) Apply force
D) Transmit vibration

4. Identify which are key data used to transform information for a product value study:

A) Customer requirements, overhead cost, competitive analysis, sample components, packaging requirements, warranty information
B) Customer demographics, overhead cost, drawings, competitive analysis, sample components, labor reports
C) Flow diagrams, latest cost estimate, labor reports, drawings, site plan, regulatory requirements
D) Design objectives, original cost estimate, drawings, specifications, resource models, customer demographics

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) Return on Investment (ROI)
C) Simple Payback (or Breakeven Point)
D) Discount Rate

Solutions: