CIPS L4M7 Test Testking: CIPS Whole Life Asset Management - ExamDiscuss Help you Prepare Exam Easily

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CIPS L4M7 exam covers a wide range of topics, including asset management strategies, life cycle costing, performance monitoring, and risk management. However, the focus of the exam is on the whole life management of assets, which is a holistic approach that considers the total cost of ownership over the entire life of the asset. This approach is becoming increasingly important for organizations as they strive to make strategic, long-term decisions in a rapidly changing and unpredictable environment.

CIPS L4M7 certification exam is ideal for professionals who are looking to enhance their career prospects in the asset management field. It is also suitable for those who are looking to transition into a career in asset management, as it provides a comprehensive understanding of the field. CIPS Whole Life Asset Management certification is recognized globally, and holders of the certification are highly sought after by employers in a variety of industries.

The CIPS L4M7 Exam is designed for those who are looking to take their career to the next level and gain a competitive edge in the industry. The CIPS L4M7 exam covers a range of topics including asset identification, classification, valuation, maintenance, and disposal. These topics are essential for anyone looking to become an asset management professional.

CIPS Whole Life Asset Management Sample Questions (Q136-Q141):

NEW QUESTION # 136
Which of the following is a description of a distribution centre?

A. A large building for storing things before they are sold, used, or sent out to shops
B. A large metal box of a standard design and size used for the transport of goods by road, rail, sea, or air
C. A building which is rented to tenants, usually on a short-term month-by-month basis
D. A building that offers value-added services like product mixing, order fulfilment, cross-docking, and packaging

Answer: D

NEW QUESTION # 137
Which of the following are objectives of Just-in-Time (JIT) in the control of inventory? Select TWO that apply.
* To reduce the possible effect of stockout situations by increasing the level of buffer stocks
* To have sufficient safety stock to cover shortages due to the extension of lead time
* To ensure that products are free from defects and meet the quality expectations of the customer
* To reduce work-in-progress, finished goods, and sub-assembly inventories to zero
* To ensure that the cost of holding inventory is directly proportional to the value of the inventory

A. 2 and 3 only
B. 4 and 5 only
C. 3 and 4 only
D. 1 and 2 only

Answer: C

Explanation:
Just-in-Time (JIT) aims to:
* Improve quality by ensuring defect-free products that meet customer expectations.
* Reduce inventory levels: The JIT approach minimizes holding costs by producing and delivering goods as needed.
Whole-life asset management values JIT for optimizing inventory control, reducing waste, and enhancing quality while keeping storage costs minimal.

NEW QUESTION # 138
Which of the following is the character that allows the computer to verify whether a product code is entered correctly?

A. Check digit
B. Barcode
C. 3-digit prefix
D. Radio frequency identification

Answer: A

Explanation:
Many codes have integrated check digits. These are additional numbers or characters added to codes that a computer uses to verify the number is valid. The intention is to reduce the likelihood of miskeying an item and hitting an alternative live item. More often, a system is devised which a computer can calculate using combination of numbers.
Barcode is a graphic symbol used to convey data. Typically the characters in a barcode symbol consist of bars/space pattern. Barcode is the method of representing data in a visual, machine-readable form. Initially barcodes represented data by varying the width and spacing of parallel lines.
Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects.
A prefix is an affix which is placed before the stem of a word or a string. A product code may have prefix which indicates its group, country, origins, etc.
Reference:
LO 1, AC 1.2

NEW QUESTION # 139
Which of the following is NOT an improvement available in ERP II in compare with ERP?

A. ERP II enables the organisation to collaborate with trading partners across the supply chain
B. ERP II crosses all sectors and segments of business, including service, government and asset-based industries
C. ERP II systems are closed and silo-working
D. ERP II offers better integration with other proprietary software

Answer: C

Explanation:
The main improvements from ERP to ERP II are the following:
- ERP II is web enabled as compared to Conventional ERP Which is not.
- ERP is restricted to provide selected exhaustive or rigorous or wide-spread coverage in its mod-ules. But as compared to ERP, ERP II provides the true and accurate blend of the macro and the micro and affords customers with curative actions/measures after identifying the slip-up/error or fault;
- ERP was embattled more headed for manufacturing or industrialization and the dilemma or difficulty is conquer in ERP II by endowing clarification for all kind of industries and sectors.
- ERP is not in the position or could not possibly integrate/incorporate diverse functions from di-verse departments/divisions but ERP II could possibly do so as well as from different industries as compared to conventional ERP.
- For WEB and WAP connectivity ERP II grip CRM and SCM Functionalities.
- ERP II be obliged the function and purpose to an external/outdoor one and smooth the progress of better networks than remaining as internal/interior application.

NEW QUESTION # 140
Company XYZ is a candy manufacturer. Company XYZ makes a batch of 1,000 Christmas candy canes that are no longer edible after December 31. Company XYZ is able to sell 750 canes of the batch, but the other 250 are sitting in the warehouse. December 31 comes, and these candy canes is no longer sell-able. The batch of 250 candy canes belongs to which type of inventory?

A. Stockout
B. Buffer stock
C. Obsolete inventory
D. Redundant inventory

Answer: C

Explanation:
Obsolescent stock is stock, usually finished goods, which is in good condition and satisfactory working but for which demand is irreversibly falling towards zero. Once this demand reaches zero the stock can be considered 'obsolete'. It cannot be used or sold in its current state. Food ingredients (like candy canes) which are out of date are another example.
Reference:
LO 2, AC 2.1

NEW QUESTION # 141
......

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