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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 |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Recommended Training: | CIPS Official Learning Resources Approved CIPS Study Centres |
| Exam Registration: | CIPS Exam Registration Information CIPS Official Website - Qualifications |
| 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 Certification Exam is aimed at professionals who are involved in asset management, including procurement and supply chain professionals, facilities managers, engineers, and operations managers. L4M7 Exam is also relevant for anyone who is involved in asset management in any other capacity or industry.
NEW QUESTION # 191
Jones Warehouse Services Limited has been using a manual handling system to move items throughout its warehouse. This setup is slow, uses more labor resources than automated systems, and recently, several errors and inaccuracies were uncovered in an audit. The company wants to introduce a system that minimizes human errors, lowers workplace risks, and reduces labor costs. Which of the following is a fast and efficient mechanical handling system for transporting a variety of different materials within a warehouse?
Answer: D
Explanation:
A conveyor system is an efficient and reliable method for transporting items within a warehouse. It reduces reliance on manual labor, lowering error rates and enhancing safety by minimizing the physical handling of goods. Conveyors can also be customized to transport various materials, improving productivity and ensuring consistent movement of goods. This aligns with whole-life asset management principles, which focus on efficiency, cost reduction, and risk mitigation across the asset's lifecycle.
NEW QUESTION # 192
Which of the following best describe the function of MRP?
Answer: C
Explanation:
Material requirement planning (MRP) is a production planning and material (inventory) control system used in manufacturing. Objectives of MRP are to ensure materials are available for production while minimising inventory and to plan production and procurement activities.
MRP process is described in the graph below:
Reference:
LO 2, AC 2.3
NEW QUESTION # 193
Why would an organisation need to hold safety stock?
Answer: C
NEW QUESTION # 194
SpeedyCar GmbH is a vehicle manufacturer that is launching a new electric vehicle onto the market, replacing a previous diesel vehicle. There is a lot of equipment in the manufacturing site to be changed, some new machinery to replace older machinery, and some production equipment to decommission. The costs of decommissioning would include which of the following?
Answer: D
NEW QUESTION # 195
Nuclear Energy Group Limited (NEG) has a number of investment options currently under appraisal. As these are all long-term investments (more than 30 years), NEG is adopting a total cost of ownership approach. It has gathered data on all associated costs over the life of the investment. Which of the following will be regarded as end-of-life costs?
Answer: D
NEW QUESTION # 196
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