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SAVE International CVS Exam Syllabus Topics:

SAVE International Certified Value Specialist Sample Questions:

Question 1

When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?

A. The life cycle cost is reduced.
B. There is no change.
C. The discount rate is not needed.
D. The life cycle cost is increased.

Question 2

A baseline design has a function cost of $120,000 and the team estimates the function worth at $80,000.
Using VI = FC ÷ FW, what is the Value Index?

A. 0.67
B. 1.50
C. 2.00
D. 1.00

Question 3

What is the most appropriate description of the Information Phase?

A. Make sure management agrees with the topic being studied
B. Gather, organize, review, and transform data collected
C. Confirm timing of Job Plan phases with the customer
D. Collect and restructure data to support the function analysis phase

Question 4

Which of the following are strategies for successful implementation of change?
Choose 3 answers.

A. Contingency plans to overcome unforeseen resistance to change
B. Appointment of a steering committee
C. Evaluating the concerns of those on the receiving end of the VM study
D. Top management commitment to the implementation plan
E. Including large groups in decision-making

Question 5

Which of the following are the purposes of function analysis?
Choose 4 answers.

A. Identify opportunities
B. Expand knowledge
C. Change viewpoints
D. Create opportunities
E. Stimulate communication
F. Communicate ideas

Solutions: