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SAVE International Value Methodology Associate Sample Questions:

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

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

2. Within the scope of a residential door (including the door frame, hinges, lock set, and door handle), which of the following does not contain activities?

A) Connect spaces, construct frame, attract user
B) Rotate door, support load, grasp handle
C) Install screws, separate spaces, secure space
D) Restrict access, improve safety, transmit force

3. Which type of value is the sum of labor, material, and other resources required to produce the subject?

A) Esteem Value
B) Exchange Value
C) Use Value
D) Cost Value

4. 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) Share
C) Enhance
D) Mitigate

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

Solutions: