2. Key ITIL Terms and Definitions (30%)

This is the largest category on the exam at 30%, and for good reason: every later phase reuses the vocabulary defined here. The trap is treating it as flashcard memorization. Instead, anchor each term to the value-co-creation idea from Phase 1 — most of these definitions are just precise names for parts of the "how do we reliably create value together?" picture you already hold. When two terms look similar (product vs. service, output vs. outcome, provider vs. vendor), the exam loves to test the boundary between them, so this phase pays special attention to those edges.