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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Available Languages: | English |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Exam Duration: | 120 minutes |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Recommended Training: | Approved CIPS Study Centres CIPS Official Learning Resources |
| Exam Registration: | CIPS Official Website - Qualifications CIPS Exam Registration Information |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Computer-based exam delivered at approved test centres or online proctored (depending on region and provider availability) |
| Pre Condition: | Part of the CIPS Level 4 Diploma in Procurement and Supply; candidates are typically required to be enrolled in the qualification pathway. |
| Official Syllabus URL: | https://www.cips.org |
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CIPS L4M7 exam is a challenging and comprehensive test that requires a deep understanding of asset management principles and practices. As such, candidates must have a solid understanding of asset management principles and practices to pass the exam. L4M7 exam is ideal for professionals who work in the field of asset management, including asset managers, maintenance managers, and project managers. It is also suitable for individuals who are looking to start a career in asset management or to enhance their existing skills and knowledge in this field. Passing the CIPS L4M7 Exam is a significant achievement that can help professionals to advance their careers and to demonstrate their expertise in asset management.
NEW QUESTION # 259
The minimal total cost is always achieved when there is only one warehouse. Is this statement true?
Answer: D
Explanation:
The total cost of storage consists of two different costs:
- The cost of warehouses: each one has a different cost, and each has the cost of stock-holding and stock management included
- The transport costs: the total transport cost reduces as further warehouses mean shorter final delivery to the customers.
Depending on each situation, the optimal number of warehouses varies. Generally, more facilities will increase the cost of warehouses while reduce the transport costs and vice versa.
NEW QUESTION # 260
Which of the following is NOT an improvement available in ERP II in compare with ERP?
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.
Reference:
- Next Generation Enterprise Resource Planning: ERP II
- CIPS study guide page 119-122
LO 2, AC 2.3
NEW QUESTION # 261
Which of the following are main objectives of warehouse operations? Select TWO that apply.
Answer: B,C
Explanation:
The purposes of stores and warehouses are:
1. Maximum use of space.
2. Ready access to all items.
3. Efficient movement of goods.
4. Effective utilization of labour & equipment's
5. Maximum protection of items
6. Good-house-keeping.
Reference:
- Warehousing: Meaning, Objectives and Functions
- CIPS study guide page 3
LO 1, AC 1.1
NEW QUESTION # 262
A supermarket calculates that the average holding cost for an item is $1.50 per cubic meter per day. A beer pallet which has volume of 0.5 cubic meter will be stored for 5 days. What is the holding cost of this beer pallet?
Answer: B
Explanation:
The holding cost per day of the beer pallet is equal to 1.50/2=0.75
The beer pallet is stored for 5 days, the total holding cost is: 0.75*5=3.75.
LO 2, AC 2.2
NEW QUESTION # 263
Which of the following is the character that allows the computer to verify whether a product code is entered correctly?
Answer: B
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 # 264
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