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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) Observation, Experimentation, Hypothesis, Conclusion
C) Observation, Hypothesis, Experimentation, Conclusion
D) Hypothesis, Experimentation, Observation, Conclusion

2. The Development Phase involves which of the following steps?

A) Model the cost of ideas
B) Determine verb-noun combinations for ideas
C) Prioritize ideas
D) Assign ideas to VM study team members

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

4. All-the-time functions are:

A) A drain on resources
B) Outside the study scope
C) Undesirable
D) Continuous

5. An unwanted function of a hammer would be:

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

Solutions: