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SAVE International VMA Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Value Engineering Principles | - Team-Based Workshop Approach
|
| Financial and Analytical Tools | - Cost Analysis Methods
|
| Value Methodology Fundamentals | - Core Value Methodology Concepts
|
SAVE International Value Methodology Associate Sample Questions:
The Value Methodology is:
- A. A cost reduction exercise to improve value.
- B. An eight-phase process to improve value.
- C. A step-by-step design review to improve value.
- D. A suggestion program to improve value.
Correct Answer: C 🗳️
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During the life cycle of a project or product, the greatest possibility to influence impacts and costs takes place during:
- A. Planning
- B. Operating
- C. Maintaining
- D. Organizing
Correct Answer: A 🗳️
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Which phase of the VM Job Plan is considered the heart of the Value Methodology?
- A. Implementation
- B. Function Analysis
- C. Presentation
- D. Creativity
Correct Answer: B 🗳️
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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
Correct Answer: D 🗳️
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Which of the following defines the nominal rate of increase in the value of money over time, after subtracting for inflation?
- A. Discount Rate
- B. Return on Investment (ROI)
- C. Simple Payback (or Breakeven Point)
- D. Present Worth (or Net Present Value)
Correct Answer: A 🗳️
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