Certified Value Specialist - CVS Exam Practice Test

Question 1

The VM study team appears engaged but is not making progress. Which of the following is the most likely cause?

A. Social loafing

B. Groupthink

C. Group size

D. Uncomfortable environment

Correct Answer: B

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Question 2

Carpet and vinyl tile are acceptable alternatives for an owner to cover 1,000 square meters of floor. Carpet installation cost is $30 per square meter. What is the initial cost of the carpet?

A. $36,000

B. $33,000

C. $32,500

D. $30,000

Correct Answer: D

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Question 3

A VM study team member arrives with new information during the development of VM proposals. What should the VM facilitator do?
Choose 2 answers.

A. Develop a new VM proposal.

B. Assess the information with the VM team.

C. Discuss the information with the study subject program manager.

D. Disregard the information.

Correct Answer: B,C

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Question 4

In VM, the basic function of a product, project, or process answers which question?

A. What must it do?

B. How quickly can it be procured?

C. What does it cost?

D. Who designed it?

Correct Answer: A

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Question 5

Which of the following actions would be appropriate for transforming your subject's information into a useful work breakdown structure?
Choose 2 answers.

A. List all activities in chronological order without grouping by deliverables.

B. Focus on cost estimates instead of deliverables.

C. Identify major milestones and decompose them into manageable elements.

D. Break down the project into defined elements.

Correct Answer: C,D

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Question 6

During the Creativity Phase, the VM Study Team is identifying options that are out of the scope of the study.
The Facilitator should

A. Discuss and confirm the study scope with the VM Team and study sponsor.

B. Have the group vote on adjusting the scope of the VM study.

C. Remind the VM Team that the suggested ideas are out of scope.

D. Review the VM Job Plan and adjust the schedule.

Correct Answer: A

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Question 7

How should the VM facilitator handle "conditionally accepted" VM proposals?
Choose 2 answers.

A. List the VM proposal as accepted.

B. Identify modifications required for acceptance.

C. Ask decision makers for timing of the final decision.

D. List deficiencies of the VM proposal.

Correct Answer: B,C

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Question 8

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

A. Top management commitment to the implementation plan

B. Contingency plans to overcome unforeseen resistance to change

C. Evaluating the concerns of those on the receiving end of the VM study

D. Including large groups in decision-making

E. Appointment of a steering committee

Correct Answer: A,B,E

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SAVE International Certified Value Specialist - CVS Exam Practice Test

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