Verified and Updated CIPS L4M7 Exam Questions and Answers

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The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body that focuses on promoting excellence in procurement and supply chain management. The CIPS L4M7 (CIPS Whole Life Asset Management) certification exam is designed to test the knowledge and understanding of professionals who are involved in the management of physical assets throughout their entire life cycle. CIPS Whole Life Asset Management certification is ideal for individuals who are seeking to enhance their skills and knowledge in the field of asset management.

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To do this the CIPS L4M7 certification exam candidates can stay updated and competitive and get a better career opportunity in the highly competitive market. So we can say that with CIPS Whole Life Asset Management L4M7 certificate you can not only validate your expertise but also put your career on the right track.

CIPS Whole Life Asset Management Sample Questions (Q146-Q151):

NEW QUESTION # 146
What is meant by the term 'obsolete stock'?

Answer: B

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 Food ingredients (like candy canes) which are out of date are another example.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 # 147
An organisation may incur additional costs in stockout events. Which of the following is an exam-ple of costs of inventory stockouts?

Answer: A

Explanation:
Stockout is a situation where an inventory item is not available when required. The costs associated with a stockout include the following:
- Lost of production output - there will be no production until the stockout is resolved (new stock is acquired). For factory operating 24/7 with no spare capacity, this lost output will not be able to be recovered.
- Costs of machine downtime and of overhead spread over a reduced level of output
- Costs of any action required to deal with the stockout...
- Loss of customer goodwill through inability to supply or late delivery
- Loss of sales or new orders
- Loss of market creditability
Reference:
LO 2, AC 2.2


NEW QUESTION # 148
A major investment bank is planning to purchase a complex banking system that will interface with multiple applications at varying times of the day. Before deploying the system, there are various levels of testing that must be performed through joint testing between the in-house team and off-shore testing consultants. The testing will be performed in a resource-constrained shared environment and managed by the on-shore development team. The costs for testing are generally classified as...?

Answer: C

Explanation:
In the scenario, the buying organisation (investment bank) must conduct various types of testing before the deployment of the software system. These tests can be functional testing, factory ac-ceptance testing and/or user acceptance testing. The costs for all these types of testing are classified as acquisition costs with regards of total cost of ownership.
Reference:
LO 3, AC 3.1


NEW QUESTION # 149
Which of the following is an acquisition cost under the concept of the total cost of ownership?

Answer: D

Explanation:
Acquisition costs include all expenses incurred to bring an asset to its operational state, such as installation and commissioning. These costs are essential to the total cost of ownership (TCO) in whole-life asset management, helping organizations understand the full initial investment required to make the asset usable.


NEW QUESTION # 150
Which of the following refer to material used for filling the void left in the box but they have poor environmental profile?

Answer: B

Explanation:
Void filling is the general term giving to the challenge of filling the space left in a box after the products have been packed. This means that if there is no void filling material, the product inside can move around and could be damaged. Materials to fill voids to secure contents
* Polystyrene (PS) is a synthetic aromatic hydrocarbon polymer made from the monomer known as styrene.[5] Polystyrene can be solid or foamed. General-purpose polystyrene is clear, hard, and rather brittle. It is an inexpensive resin per unit weight. It is a rather poor barrier to oxygen and water vapour and has a relatively low melting point.[6] Polystyrene is one of the most widely used plastics, the scale of its production being several million tonnes per year.[7] Polystyrene can be naturally transparent, but can be coloured with colourants. Uses include protective packaging (such as packing peanuts and CD and DVD cases), containers, lids, bottles, trays, tum-blers, disposable cutlery[6] and in the making of models. Polystyrene is generally considered to be non-biodegradable. However, certain organisms are able to degrade it, albeit very slowly.
* Chips made of bio-degradable materials
* Absorbent and fire-resistant material
* Shredded paper, cardboard or wood-Based material
* Paper or cardboard rolls
* Bubble wrap
* Air-filled cushions
* Self expanding foam
Straps are used to group items into unit load. Polypropylene or polyester are the materials most often used. The wider the strap, the stronger it will be. Using more than one strap and straps for length and width will create a strong place for stock.

Reference:
- Polystyrene (Wikipedia)
- CIPS study guide page 65
LO 1, AC 1.3


NEW QUESTION # 151
......

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