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CIPS L4M7 exam is an essential certification for professionals who are involved in asset management. It is an internationally recognized certification that has been developed by the Chartered Institute of Procurement and Supply (CIPS), which is a leading global professional organization in the field of procurement and supply chain management. CIPS Whole Life Asset Management certification demonstrates that the individual has a thorough understanding of the principles and practices of asset management, and is capable of managing assets in a cost-effective and efficient manner.
CIPS L4M7 certification exam covers a wide range of topics related to asset management, including asset identification, acquisition and disposal, maintenance and repair, risk management, and performance measurement. L4M7 exam also covers the principles of sustainability and environmental management, which are becoming increasingly important in the management of physical assets. CIPS Whole Life Asset Management certification is suitable for professionals at all levels of asset management, from entry-level positions to senior management roles.
CIPS L4M7 Exam is divided into three units, each of which is designed to build on the knowledge and skills developed in the previous unit. The first unit covers the principles of asset management and the importance of whole-life costing. The second unit focuses on the procurement of assets, including the selection of suppliers, contract management, and the use of procurement tools and techniques. The third unit covers the operation and maintenance of assets, including performance management, risk management, and the use of technology in asset management.
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CIPS Whole Life Asset Management Sample Questions (Q68-Q73):
NEW QUESTION # 68
Which of the following factors should be considered in the choice of a warehouse location?
* The type of bar coding that is used
* The impact of local authority by-laws and regulations
* The number of forklifts to be used
* The nature of the items to be stored
Answer: A
NEW QUESTION # 69
Radio Frequency Identification (RFID) is an electronic technology that transmits data from tagged items.
What are the advantages of RFID technology? SelectTWOthat apply.
Answer: A,D
NEW QUESTION # 70
What cost factors should be considered for the maintenance and repair of manufacturing equipment?
* Direct labor cost
* Cost of utilities during the use of the equipment
* Cost of the goods being sold
* Guarantee and warranty cost
Answer: A
Explanation:
Maintenance and repair costs include:
* Direct labor: Expenses for personnel performing maintenance tasks.
* Warranty costs: Expenses associated with warranty obligations or repairs within the warranty period.
These costs are part of whole-life asset management, which aims to accurately budget for and manage ongoing equipment expenses.
NEW QUESTION # 71
"Open stock plus purchases minus closing stock" is the formula of which of the following?
Answer: B
Explanation:
The amount of closing stock (properly valued) is used to arrive at the cost of goods sold in a periodic inventory system with the following calculation:
Opening stock + Purchases - Closing stock = Cost of goods sold
Reference:
- CIPS study guide page 130-131
- Closing stock definition
LO 2, AC 2.3
NEW QUESTION # 72
Do all types of warehouses require access to daylight to reduce the cost of electricity?
Answer: D
Explanation:
The design of a building should consider the advantages of natural light as this can reduce the cost of artificial lighting and improve the environmental performance of the building. Daylight entering the building can also help reduce heating costs. Unfortunately some stocks react badly to direct sunlight, and some stock reacts badly to extreme of temperature or may require a specific temperature for storage. Some stock may require a warmer temperature than the ambient temperature and other stocks may require cooler temperature. For example, fabric and garment are sensitive to direct sunlight as ultraviolet light catalyses a reaction between the water present in all fabrics and atmospheric oxygen to create hydrogen peroxide. This is a bleaching agent and breaks down the chemical bonds that give dyes their colour.
NEW QUESTION # 73
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