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SAVE International Certified Value Specialist Sample Questions:

1. SMART stands for

A) Standards, Measureable, Attainable, Relevant, and Timebound.
B) Specific, Measureable, Accountable, Relevant, and Timebound.
C) Standards, Measureable, Attainable, Reasonable, and Timebound.
D) Specific, Measureable, Attainable, Reasonable, and Timebound.
E) Specific, Measureable, Attainable, Relevant, and Timebound.
F) Standards, Measureable, Accountable, Relevant, and Timebound.

2. The decision makers cling to familiar ways and reject all the VM proposals. What strategy could the VM facilitator use to persuade them to reconsider their decisions?

A) Provide information only as required to reduce the potential for discomfort.
B) Repeat the VM study with new team members.
C) Identify areas of instability.
D) Identify how to modify behaviors in the context of the new situation.

3. Which approaches should the VM facilitator use to encourage innovation?
Choose 2 answers.

A) Maintaining current systems that work well
B) Imagining the ideal future by focusing on long-term goals for maximizing future potential
C) Avoiding the combining and testing of new combinations
D) Exploring by discovering new possibilities using ideas from other areas and disciplines

4. Which of the following are specific VM facilitator tasks to be completed prior to the VM study workshop?
Choose 2 answers.

A) Preparing a draft of the Implementation Phase
B) Developing a high-level agenda to review with the client and obtaining approval
C) Identifying functions for the VM Team's consideration
D) Compile information gathered for the Information Phase

5. Subject information:
Service Life = 12 years
Fuel = $9.00 per liter
Annual kilometers driven = 40,000 kilometers
Car A: Paid $40,000 , needs batteries every two years at $600 , needs tires every two years at $1,000 , fuel efficiency = 10 kilometers per liter .
Car B: Paid $50,000 , needs tires every two years at $2,000 , fuel efficiency = 15 kilometers per liter .
Car C: Paid $60,000 , needs tires every two years at $4,000 , fuel efficiency = 20 kilometers per liter .
What is the total life cycle cost - initial, replacement costs, and annual costs - of Car A for the service life of the vehicle without considering the discount rate?

A) $477,000
B) $500,000
C) $480,000
D) $84,000

Solutions: