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Last Updated: Jul 23, 2026
No. of Questions: 63 Questions & Answers with Testing Engine
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Value Methodology Fundamentals | 20-25% | - Basic concepts and terminology - Value vs. cost relationship - History and evolution of value methodology - Function analysis basics |
| Topic 2: Creative Techniques | 10-15% | - Idea generation methods - Lateral thinking - Brainstorming - Synectics |
| Topic 3: Function Analysis | 15-20% | - Function cost and worth - Function classification (Use/Esteem) - Function definition (Basic/Secondary) - FAST diagrams |
| Topic 4: Job Plan and Process | 25-30% | - Development phase - Presentation phase - Function analysis phase - Evaluation phase - Creative phase - Information phase - Implementation phase |
| Topic 5: Evaluation and Selection | 10-15% | - Cost-performance analysis - Selection criteria - Risk assessment |
| Topic 6: Professional Practices | 5-10% | - Ethical considerations - Communication skills - Team dynamics - Documentation requirements |
1. One of the main purposes of the Miles Value Foundation is to:
A) Manage VM certification
B) Improve VM programs
C) Promote VM education
D) Conduct VM training
2. What is the objective of the Creativity Phase?
A) Select improvement ideas
B) Generate improvement ideas
C) Develop improvement ideas
D) Prioritize improvement ideas
3. Which of the following letters represents the scope lines?
A) C
B) D
C) B
D) A
4. The primary objective of the Information phase is to:
A) Understand the subject
B) Create a cost model
C) Obtain the voice of the customer
D) Transform information
5. All-the-time functions are:
A) Undesirable
B) Continuous
C) Outside the study scope
D) A drain on resources
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B |
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