ITIL 4 Foundation Key Concepts

By Pat Jordan · Updated Jul 10, 2026

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Format70% Multiple Choice
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Catalog listing of the 5 preview questions for this quiz.

Question 1

What is the ITIL 4 Service Value Chain (SVC)?

Answer choices

  • A. A financial model for calculating the cost of IT services

  • B. An operating model describing the key activities required to respond to demand and facilitate value creation

  • C. A supply chain management framework for hardware procurement

  • D. The sequence of ITIL certification levels from Foundation to Master

Question 2

What is the ITIL 4 Service Value System (SVS), and what are its five components?

Answer choices

  • A. Incident, Problem, Change, Release, and Configuration Management

  • B. Guiding Principles, Governance, Service Value Chain, Practices, and Continual Improvement

  • C. Strategy, Design, Transition, Operation, and Continual Service Improvement

  • D. People, Process, Technology, Partners, and Performance

Question 3

What are the ITIL 4 Guiding Principles? (Select the option that correctly lists ALL seven)

Answer choices

  • A. Focus on value; Start where you are; Progress iteratively with feedback; Collaborate and promote visibility; Think and work holistically; Keep it simple and practical; Optimize and automate

  • B. Plan, Do, Check, Act; Continual improvement; Risk management; Governance; Value chains; Practices; Metrics

  • C. Strategy; Design; Transition; Operation; Continual Service Improvement; Governance; Risk

  • D. Availability; Capacity; Security; Continuity; Change; Release; Configuration

Question 4

Which of the following are among ITIL 4's 34 Management Practices? *(Select ALL that apply)*

Answer choices

  • A. Incident Management

  • B. Change Enablement

  • C. Service Level Management

  • D. Human Resources Management

  • E. Continual Improvement

Question 5

What is a "Service Level Objective" (SLO) and how does it relate to an SLA?

Answer choices

  • A. An SLO is a legally binding contract; an SLA is an informal agreement

  • B. An SLO is a specific measurable target within an SLA (e.g., 99.9% uptime); the SLA is the broader agreement containing multiple SLOs

  • C. An SLO is set by the customer; an SLA is set by the service provider

  • D. They are identical terms used interchangeably in ITIL 4