CIPS Whole Life Asset Management exam prep material & L4M7 useful exam pdf & CIPS Whole Life Asset Management exam practice questions

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CIPS L4M7, also known as the CIPS Whole Life Asset Management Exam, is a comprehensive certification program that focuses on managing and maintaining assets throughout their entire lifecycle. L4M7 Exam is specifically designed for procurement professionals, who are responsible for the acquisition, management, and disposal of assets, including property, plant, and equipment.

Successful completion of the CIPS L4M7 Certification Exam demonstrates that the candidate has a sound understanding of the entire asset life cycle and has the skills to create value and manage risks associated with asset management. CIPS Whole Life Asset Management certification is highly respected by employers in the asset management industry and can lead to increased job opportunities and promotions in this field. Candidates who pass the exam are awarded the CIPS Whole Life Asset Management certificate, which is recognized and respected worldwide by employers and professionals.

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CIPS L4M7 exam is suitable for procurement professionals who are looking to advance their careers in asset management. It is also ideal for those who are responsible for managing assets within their organizations, including facilities managers, asset managers, and inventory managers. L4M7 Exam is designed to help candidates acquire the skills and knowledge necessary to effectively manage assets and ensure their long-term value.

CIPS Whole Life Asset Management Sample Questions (Q209-Q214):

NEW QUESTION # 209
Which of the following are most likely the benefits of using unit loads? Select TWO that apply.
Increase transport time of each item

A. Minimise space utilisation
B. Reduce handling cost of one unit
C. Unit loads must be placed on pallets
D. Safer handling

Answer: B,D

Explanation:
The concept of a unit load is to create a stable and secure, easy-to-move group of stock that is fast to load and unload from vehicles.
The advantages of unit load concepts are as the following:
* More items can be handled at the same time, thereby reducing the number of trips required and, potentially, reducing handling costs, loading and unloading times, and product damage.
* Enables the use of standardized material handling equipment.
Reference:
LO 1, AC 1.3

NEW QUESTION # 210
Which of the following is the character that allows the computer to verify whether a product code is entered correctly?

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

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.

NEW QUESTION # 211
A manufacturer has discovered that some of the stock in its storeroom is obsolete, and now wishes to take the appropriate action. Should the manufacturer write the stock off?

A. No, it should be included with the closing stock
B. Yes, as it has no value it must be written off
C. Yes, this will increase the sales for the period
D. No, the best approach would be to leave the stock where it is

Answer: B

Explanation:
Writing off obsolete stock is standard practice as it no longer holds any value for the organization. This allows for accurate financial reporting by removing items that cannot be sold or used from the balance sheet.
Including it in closing stock would misrepresent asset values, while leaving it unsorted wastes valuable space.
Whole-life asset management emphasizes disposal or recycling options to avoid holding costs for unused assets, reducing storage costs and improving warehouse efficiency.

NEW QUESTION # 212
Which of the following would be an impact of low stock in the supply chain?
* Warehouse space would all be full with excess stock
* There may be delays and higher costs to fulfill supply
* Stock may not be available at times of high demand
* Lead times would reduce and purchase costs would fall

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

Answer: D

NEW QUESTION # 213
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?

A. Acquisition costs
B. Holding costs
C. Purchase price
D. Costs of stockouts

Answer: B

Explanation:
Direct and indirect costs of holding inventory include the following:
- Acquisition costs
- Holding costs: There are 2 different types of holding costs: costs related to the value of the goods (including opportunity costs, costs of insurance, losses due to product deterioration, etc) and costs related to the physical characteristics of this inventory.
- Costs of stockouts

NEW QUESTION # 214
......

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CIPS Whole Life Asset Management exam prep material & L4M7 useful exam pdf & CIPS Whole Life Asset Management exam practice questions

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CIPS Whole Life Asset Management Sample Questions (Q209-Q214):

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