SAVE International VMA real exam prep : Value Methodology Associate

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SAVE International VMA Exam Syllabus Topics:

SAVE International Value Methodology Associate Sample Questions:

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

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

2. The best study results will usually come from applying the value methodology with:

A) A team working in similar disciplines
B) The current project team
C) An executive-level task force
D) A multidisciplinary team with a selected set of skills

3. When transforming the VM study subject's cost information, the potential for achieving major savings is:

A) Enhanced when outputs are included in calculations
B) Improved when costs are aligned with scope increases
C) Greatest during the early phases of the project lifecycle
D) Increased when the VM proposals improve performance

4. Which is the correct order of steps involved in risk management?

A) Risk Management Planning, Risk Identification, Risk Analysis, Risk Response Planning, Risk Monitoring and Control
B) Risk Identification, Risk Management Planning, Risk Analysis, Risk Response Planning, Risk Monitoring and Control
C) Risk Management Planning, Risk Analysis, Risk Identification, Risk Response Planning, Risk Monitoring and Control
D) Risk Management Planning, Risk Identification, Risk Response Planning, Risk Analysis, Risk Monitoring and Control

5. Y is pointing to the

A) Minor Logic Path
B) Critical Logic Path
C) "OR" Gate
D) "AND" Gate

Solutions: