McqMate
Chapters
| 1. |
The cost reduction technique in comparison to the worth of a product is known as |
| A. | Reverse engineering |
| B. | Value engineering |
| C. | Material engineering |
| D. | Quality engineering |
| Answer» B. Value engineering | |
| 2. |
Value analysis examines the |
| A. | Design of every component |
| B. | Method of manufacturing |
| C. | Material used |
| D. | All of the above |
| Answer» D. All of the above | |
| 3. |
Value analysis is normally applied to |
| A. | New products |
| B. | Old products |
| C. | Future products |
| D. | Both (A) and (B) |
| Answer» B. Old products | |
| 4. |
Value can be defined as the combination of _______ which ensures the ultimate economy and satisfaction of the customer. |
| A. | Efficiency, quality, service and price |
| B. | Efficiency, quality, service and size |
| C. | Economy, quality, service and price |
| D. | Efficiency, material, service and price |
| Answer» A. Efficiency, quality, service and price | |
| 5. |
Value is the cost directly proportionate to |
| A. | Price |
| B. | Function |
| C. | Product Material |
| D. | All of the above |
| Answer» B. Function | |
| 6. |
The price paid by the buyer is |
| A. | Cost value |
| B. | Use value |
| C. | Esteem value |
| D. | Exchange value |
| Answer» B. Use value | |
| 7. |
The cost incurred by the manufacturer beyond use value is called |
| A. | Cost value |
| B. | Esteem value |
| C. | Exchange value |
| D. | None of the above |
| Answer» B. Esteem value | |
| 8. |
Value analysis is a ____ process |
| A. | Remedial |
| B. | Preventive |
| C. | Continuous |
| D. | None of the above |
| Answer» A. Remedial | |
| 9. |
Value analysis should be applied when the following symptom(s) is (are) present |
| A. | Rate of return on investment is reducing |
| B. | Reduction in sales of the product |
| C. | Firm is unable to meet delivery promises |
| D. | All of the above |
| Answer» D. All of the above | |
| 10. |
Who is named as Father of Value Analysis? |
| A. | Lawrence D. Miles |
| B. | George Terborgh |
| C. | Michael Jucius |
| D. | Edwin B. Flippo |
| Answer» A. Lawrence D. Miles | |
| 11. |
Important reason(s) for arising unnecessary costs are |
| A. | Poor design of product |
| B. | Too tight specifications |
| C. | Lack of standardization |
| D. | All of the above |
| Answer» D. All of the above | |
| 12. |
The costs those which neither contributes to function nor the appearance of the product is called |
| A. | Extra cost |
| B. | Unnecessary cost |
| C. | Esteem cost |
| D. | Exchange cost |
| Answer» B. Unnecessary cost | |
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