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SAVE International Certified Value Specialist Sample Questions:

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

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

2. Which of the following is the most commonly used technique to identify functions?

A) FAST
B) Random Words
C) Random Function Identification
D) Mind Mapping

3. 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) $84,000
B) $477,000
C) $480,000
D) $500,000

4. A FAST diagram is used to
Choose 3 answers.

A) Help identify missing functions.
B) Illustrate the relationship of functions to each other.
C) Test the validity of functions under study.
D) Identify the sequence of functions.
E) Identify required activities.

5. Which of the following are key elements of a risk register?
Choose 2 answers.

A) Impact on the scope
B) Probability of occurrence
C) Function of the risk
D) Performance criteria

Solutions: