ITIL 4 Foundation Practice Exam

Which statement about warranty is correct?

1. Assurance that a product or service will meet agreed requirements

2. A configuration of an organization's resources designed to offer value for a consumer

3. The perceived benefits, usefulness, and importance of something

4. The functionality offered by a product or service to meet a particular need

The correct answer is: Assurance that a product or service will meet agreed requirements

The statement about warranty that is correct focuses on the assurance that a product or service will meet agreed requirements. Warranty in the context of ITIL 4 represents a commitment that a service will perform as expected and deliver the quality and performance that has been agreed upon by the service provider and the consumer. It essentially builds trust between providers and users, assuring the consumer that the service will be reliable and satisfactory within the defined terms of the service agreement. This concept aligns with ITIL's emphasis on delivering value through services, as warranty reflects the fulfillment of service obligations that contribute to overall confidence in service consumption. By guaranteeing that services will meet specific needs and standards, warranty helps ensure that the customer can rely on the service to perform effectively. The other options address different aspects related to service management but do not define warranty appropriately. For instance, one describes the configuration of resources meant to offer value, another touches on perceived benefits and usefulness, and the last one refers to functionalities meant to meet needs. While all these concepts are essential in the broader context of service delivery and value creation, they do not capture the essence of warranty, which is fundamentally about assurance and meeting agreed expectations.