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SAVE International VMA Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Function Analysis | 15-20% | - Function cost and worth - Function classification (Use/Esteem) - FAST diagrams - Function definition (Basic/Secondary) |
| Evaluation and Selection | 10-15% | - Cost-performance analysis - Risk assessment - Selection criteria |
| Creative Techniques | 10-15% | - Brainstorming - Idea generation methods - Lateral thinking - Synectics |
| Professional Practices | 5-10% | - Ethical considerations - Communication skills - Team dynamics - Documentation requirements |
| Job Plan and Process | 25-30% | - Development phase - Information phase - Implementation phase - Presentation phase - Function analysis phase - Creative phase - Evaluation phase |
| Value Methodology Fundamentals | 20-25% | - Function analysis basics - Basic concepts and terminology - History and evolution of value methodology - Value vs. cost relationship |
SAVE International Value Methodology Associate Sample Questions:
1. In which costing technique is the time value of money essential?
A) Life Cycle Cost
B) Simple Payback
C) Break-even point
D) Return on Investment
2. Which type of value is the sum of labor, material, and other resources required to produce the subject?
A) Exchange Value
B) Use Value
C) Esteem Value
D) Cost Value
3. Which is the correct order of steps in establishing evaluation criteria?
A) Define criteria, identify context, determine range/scale, determine importance
B) Define criteria, identify context, determine importance, determine range/scale
C) Identify context, define criteria, determine range/scale, determine importance
D) Identify context, define criteria, determine importance, determine range/scale
4. Which function represents the specific goals or needs for which the subject scope exists?
A) Lower Order
B) Higher Order
C) Basic
D) Secondary
5. 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) Simple Payback (or Breakeven Point)
C) Present Worth (or Net Present Value)
D) Return on Investment (ROI)
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: A |
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