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CVS Certified Value Specialist Questions and Answers

Questions 4

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?

Options:

A.

$30,000

B.

$32,500

C.

$33,000

D.

$36,000

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Questions 5

There is resistance to a new VM program in an organization. What should a VM program coordinator focus on to increase acceptance of VM?

Options:

A.

Explain the difference between VM and other value-improving programs (TRIZ, Lean 6-Sigma, etc.)

B.

Highlight that there are many areas with deficiencies that will be improved by VM.

C.

Prepare a memo for the CEO to sign that requires staff to incorporate VM in all departments.

D.

Identify a few subjects that would benefit from change and recommend a VM study through dialogue with staff.

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Questions 6

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

Options:

A.

Groupthink

B.

Uncomfortable environment

C.

Social loafing

D.

Group size

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Questions 7

What are key reasons to use a fine evaluation filter?

Choose 2 answers.

Options:

A.

It uses weighted relative importance.

B.

It slows the process to promote initial ideas.

C.

It increases rigor in the evaluation process.

D.

It allows differentiation between ideas.

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Questions 8

A higher-order function

Choose 2 answers.

Options:

A.

represents specific needs satisfied by the basic function.

B.

describes the output of the basic function.

C.

is fundamental to the subject scope.

D.

describes input for the basic function.

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Questions 9

Which of the following are the purposes of function analysis?

Choose 4 answers.

Options:

A.

Communicate ideas

B.

Stimulate communication

C.

Change viewpoints

D.

Expand knowledge

E.

Identify opportunities

F.

Create opportunities

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Questions 10

What are key factors that cause VM programs to fail?

Choose 2 answers.

Options:

A.

Locating the VM program within a department in the organization

B.

An undefined implementation and change management process

C.

Management support

D.

Tracking VM study results

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Questions 11

Which of the following situations are MOST appropriate for using a RACI matrix?

Choose 2 answers.

Options:

A.

Process flow

B.

Communication gaps

C.

Validated assumptions

D.

Misunderstood concepts

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Questions 12

Place the process for building a work breakdown structure in the correct order:

CVS Question 12

Options:

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Questions 13

A VM program manager has the resources to undertake one VM study, but 4 candidate subjects/projects are available, each costing $10 million. Which subject/project should be selected?

Options:

A.

The subject design is complete, but there is concern the project will not deliver an ROI.

B.

The subject is similar to a previous successful project, but design has not started. The project is expected to deliver the target ROI.

C.

The subject is similar to a previous project and the design has not started. The previous project did not achieve the target ROI.

D.

The subject is similar to a previous project, the design is 30% complete, and a detailed estimate is prepared. The previous project achieved the target ROI.

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Questions 14

Which factors influence the scheduling of the presentation at the end of the VM study workshop?

Choose 2 answers.

Options:

A.

Size of the VM team

B.

Number of participants

C.

Level of management involvement

D.

Number of VM proposals developed

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Questions 15

Which of the following are the effects of increasing the duration of a VM study?

Choose 2 answers.

Options:

A.

Site visit duration is unchanged

B.

Additional creative techniques can be used

C.

Numerous FAST diagrams are constructed

D.

Evaluation techniques are more thoughtful

E.

More VM proposals are implemented

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Questions 16

A VM Facilitator has been asked to propose ways to reduce the value study time commitment of client VM team members who have specialized knowledge required for the study. What should the VM Facilitator propose to best reduce the time commitments of the specialists?

Options:

A.

Recommend that all team members follow all the VM job plan phases to achieve value improvement.

B.

Suggest that VM team members with specialized knowledge participate in the Development Phase to ensure reasonable value proposals.

C.

Recommend VM members with specialized knowledge participate in the Creativity Phase to ensure the team understands their perspectives.

D.

Suggest VM team members with specialized knowledge participate in the Function Analysis Phase because it leads to creativity.

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Questions 17

A team wants to skip Function Analysis because the design solution already appears obvious. What is the best CVS-level response?

Options:

A.

Agree, because Function Analysis is optional when experts are present

B.

Skip directly to Development to save time

C.

Perform Function Analysis because it is essential to a valid VM study

D.

Replace Function Analysis with procurement benchmarking only

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Questions 18

Which statement best describes a FAST diagram?

Options:

A.

A schedule network used to calculate project float

B.

A graphical model showing dependent relationships among functions

C.

A cost spreadsheet used to calculate inflation

D.

A procurement chart showing supplier lead times

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Questions 19

SMART stands for

Options:

A.

Specific, Measureable, Attainable, Reasonable, and Timebound.

B.

Specific, Measureable, Accountable, Relevant, and Timebound.

C.

Standards, Measureable, Attainable, Relevant, and Timebound.

D.

Standards, Measureable, Accountable, Relevant, and Timebound.

E.

Standards, Measureable, Attainable, Reasonable, and Timebound.

F.

Specific, Measureable, Attainable, Relevant, and Timebound.

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Questions 20

Which statement best describes the Implementation Phase?

Options:

A.

It occurs before the Information Phase to collect user attitudes

B.

It converts accepted value proposals into executed changes and tracks results

C.

It is identical to the Creativity Phase

D.

It is where all unselected ideas are formally approved

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Questions 21

Which of the following actions is the most effective method for encouraging stakeholder engagement during the implementation phase?

Options:

A.

Assign tasks to team members before informing stakeholders.

B.

Use formal reports to streamline the process.

C.

Provide stakeholders with the VM study report during the implementation meeting.

D.

Coordinate with the project manager to distribute information to stakeholders.

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Questions 22

Which creativity method is based on the consideration of the overall problem and brainstorming by function?

Options:

A.

Intuitive Creativity Method

B.

Ideation Creative Method

C.

Discursive Creativity Method

D.

Empirical Creativity Method

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Questions 23

What tool could the VM study team use to show customer satisfaction?

Options:

A.

Quality function deployment

B.

Quality management plan

C.

Customer FAST

D.

Resource model

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Questions 24

The decision-makers agreed to implement a VM proposal requiring an organizational change. What should be done to improve success?

Choose 2 answers.

Options:

A.

Encourage participation by those affected by the change

B.

Strictly define the implementation plan

C.

Hire a change management consultant

D.

Appoint an oversight committee

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Questions 25

The Value Methodology

Choose 2 answers.

Options:

A.

Encourages multidisciplinary communication

B.

Accelerates the design process

C.

Maintains paradigms

D.

Develops realistic budgets

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Questions 26

What should the VM facilitator consider for the title of a VM proposal?

Choose 2 answers.

Options:

A.

Using a concise description of the proposal

B.

Using specific technical language

C.

Framing the title to help sell the concept

D.

Using general non-specific jargon

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Questions 27

Carpet and vinyl tile are acceptable alternatives for an owner to cover 1,000 square meters of floor.

Carpet

Installation cost, including pad = $30 / square meter

Service life = 10 years

Maintenance cost: vacuum weekly = $500 / month

Maintenance cost: shampoo once per year = $3,000 / shampoo

Vinyl

Installation cost, including pad = $10 / square meter

Service life = 15 years

Maintenance cost: vacuum weekly = $400 / month

Maintenance cost: strip and wax once per month = $1,000 / strip and wax

What is the initial cost of the carpet ?

Options:

A.

$30,000

B.

$32,500

C.

$33,000

D.

$36,000

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Questions 28

Which of the following are the outputs of the Presentation Phase?

Choose 2 answers.

Options:

A.

List of participants

B.

Schedule the VM presentation

C.

The VM study report

D.

List of VM proposals and results

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Questions 29

How should the VM facilitator handle “conditionally accepted” VM proposals?

Choose 2 answers.

Options:

A.

Identify modifications required for acceptance.

B.

List the VM proposal as accepted.

C.

Ask decision makers for timing of the final decision.

D.

List deficiencies of the VM proposal.

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Questions 30

Which of the following should the project manager use to support the implementation of proposals?

Choose 2 answers.

Options:

A.

Previously gathered user experiences.

B.

A detailed implementation plan including timelines and resources.

C.

A contingency plan to address potential issues that may arise during implementation.

D.

The implementation plan without assessing current policies and procedures.

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Questions 31

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

Options:

A.

FAST

B.

Mind Mapping

C.

Random Words

D.

Random Function Identification

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Questions 32

CVS Question 32

Match the following to their appropriate “How” direction on the function logic path for the prescription eyeglasses:

CVS Question 32

Options:

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Questions 33

A VM program’s standard operating procedures should include

Options:

A.

a requirement that each VM team member be independent from the development team.

B.

how subjects for VM studies are identified.

C.

a listing of standard functions to be included in a VM study.

D.

a required number of creative ideas to be generated in a study.

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Questions 34

What reviews should be conducted during the development of VM proposals?

Choose 2 answers.

Options:

A.

Discard controversial VM proposals.

B.

All VM study team members review VM proposals.

C.

Conduct a midpoint review with stakeholders.

D.

Only the VM facilitator reviews the VM proposals.

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Questions 35

Which of the following assists the VM Facilitator in creating a collaborative client relationship?

Choose 3 answers.

Options:

A.

Diagnosing client needs and creating appropriate VM Job Plan elements to achieve intended outcomes

B.

Focusing on structure

C.

Analyzing organizational involvement

D.

Dictating tasks, deliverables, roles, and responsibilities

E.

Clarifying mutual involvement

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Questions 36

The project team expresses uncertainty about how their tasks align with the overall objectives of the VM Job Plan. What steps should the VM facilitator take to enhance understanding of the VM Job Plan?

Choose 2 answers.

Options:

A.

Encourage a collaborative environment by pairing project and VM team members for more in-depth discussions of each other’s roles.

B.

Facilitate a discussion to improve their understanding of how their tasks contribute to the VM Job Plan.

C.

Present the VM Job Plan in detail with minimal interaction, allowing team members to ask questions at the end.

D.

Establish a deadline for project members to complete their preparation.

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Questions 37

When a higher discount rate is used to calculate life cycle costs, which change occurs to the value of money over time?

Options:

A.

The discount rate is not needed.

B.

There is no change.

C.

The life cycle cost is increased.

D.

The life cycle cost is reduced.

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Questions 38

A VM program manager has limited time available to coordinate VM studies. Rank their priorities.

CVS Question 38

Options:

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Questions 39

A higher-order function

Choose 2 answers.

Options:

A.

represents specific needs satisfied by the basic function.

B.

describes the output of the basic function.

C.

is fundamental to the subject scope.

D.

describes input for the basic function.

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Questions 40

Match the following to their appropriate “How” direction on the function logic path for the prescription eyeglasses.

CVS Question 40

CVS Question 40

Options:

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Questions 41

During the Presentation Phase, the team leader should primarily do which of the following?

Options:

A.

Document and communicate developed alternatives and value improvement opportunities

B.

Begin random function identification

C.

Generate all possible alternatives without evaluation

D.

Replace the owner’s decision-making authority

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Questions 42

Which of the following are typically documented in the “accepted” VM proposal status report?

Choose 3 answers.

Options:

A.

Next update

B.

Report number

C.

VM study presentation

D.

Tracking identification number

E.

Performance impacts

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Questions 43

SWOT stands for

Options:

A.

strengths, weaknesses, organization, and threats.

B.

strengths, weaknesses, opportunities, and threats.

C.

standards, weaknesses, organization, and threats.

D.

standards, weaknesses, organization, and thresholds.

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Questions 44

When facilitating a VM study team without experience with function analysis, which of the following are effective methods to introduce the topic?

Choose 2 answers.

Options:

A.

Prepare a FAST diagram in advance of the meeting.

B.

Show the VM study team an example of function analysis.

C.

Have the VM Team identify functions of items in the room.

D.

Classify functions prior to identifying functions.

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Questions 45

A baseline design has a function cost of $120,000 and the team estimates the function worth at $80,000. Using VI = FC ÷ FW, what is the Value Index?

Options:

A.

0.67

B.

1.00

C.

1.50

D.

2.00

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Exam Code: CVS
Exam Name: Certified Value Specialist
Last Update: Jun 19, 2026
Questions: 147

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