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CIPS L4M7 Exam Syllabus Topics:

SectionObjectives
Topic 1: Disposal and End-of-Life Management- Asset disposal strategies
  • 1. Environmental and sustainability considerations
    • 2. Resale, recycling, and decommissioning
      Topic 2: Understanding Asset Management- Principles of whole life asset management
      • 1. Value creation and total cost of ownership
        • 2. Asset lifecycle concepts
          Topic 3: Operation and Maintenance- Asset performance and reliability
          • 1. Maintenance strategies
            • 2. Performance monitoring and KPIs
              Topic 4: Asset Acquisition and Procurement- Sourcing and procurement of assets
              • 1. Supplier selection and evaluation
                • 2. Make or buy decisions
                  Topic 5: Risk and Value Management- Managing asset-related risk
                  • 1. Cost-benefit and value analysis
                    • 2. Risk assessment across lifecycle stages

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                      CIPS Whole Life Asset Management L4M7 Prüfungsfragen mit Lösungen (Q75-Q80):

                      75. Frage
                      Which of the following statements is true?

                      Antwort: D

                      Begründung:
                      Dependent demand is the requirement for stock item which is directly related to and therefore de-pendent upon the rate of production (examples are: raw materials, components, energy).
                      Independent demand is the requirement for stock item which is not directly related to, and is therefore independent of rate of production.
                      'Number of independent demand items may be derived from the forecast': Although independent demand is called thus, it can still be influenced by economic factors external to the demand-supply model such as general consumer sentiment and consumers' available disposal income. However, businesses that need to predict the number of products with independent demand needed to sate their customers have it easier than businesses that must calculate the demand for products with dependent demand because there are fewer factors to consider.
                      'Dependent demand items are not directly correlated with production rate': As mentioned above, dependent demand items are directly correlated with production rate.
                      'All indirect supplies are independent demand items': Though most indirect supplier are inde-pendent demand, some are determined by the production rate, i.e. energy consumption of a major machinery.
                      'Car engine is an example of independent demand items in a car assembly plant': Car engine is a component in car which is the finished good of a car assembly plant, it is a dependent demand item.
                      LO 2, AC 2.1


                      76. Frage
                      The following are examples of scheduled maintenance except...

                      Antwort: C

                      Begründung:
                      Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given maintenance tasks are performed and by whom. Scheduled maintenance may occur at repeating intervals or in response to a work request.
                      "Overhauling of machine" means that the machine is regularly checked and corrupted parts are replaced if needed.
                      "Cleaning of tank" and "Oil changes" also occur at time intervals as scheduled So the correct answer is "Repair signage damage from a recent storm" Reference: CIPS study guide page 158-163 LO 3, AC 3.1


                      77. Frage
                      Which of the following costs does the EOQ minimise?

                      Antwort: A

                      Begründung:
                      Economic order quantity (EOQ) was developed in 1913 by Ford W. Harris and has been refined over time.
                      The formula assumes that demand, ordering, and holding costs all remain constant. The EOQ minimizes the total annual inventory cost.
                      EOQ formula is as follow:

                      LO 2, AC 2.3


                      78. Frage
                      Which of the following are essential aspects that are required for the successful implementation of Just-In- Time (JIT)? SelectTWOthat apply.

                      Antwort: A,E


                      79. Frage
                      Which of the following best describes the relationship between a service level and safety stock?

                      Antwort: D

                      Begründung:
                      Holding extra stocks will always improve customer service levels, or at least reduce the risk of them falling.
                      This implies that if an organisation aims at higher service levels, they should have larger safety stock.
                      However, increasing safety stock is not the only solution to improve service level. The widespread adoption of just-in-time (JIT) techniques particularly in the automotive industry has greatly reduced costs with increased service levels as well as the additional benefit of increased problem visibility.
                      The correct answer should be 'A safety stock is not always required to achieve a required service level'.


                      80. Frage
                      ......

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