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Studying from an updated practice material is necessary to get success in the CIPS L4M7 certification test on the first try. If you don't adopt this strategy, you will not be able to clear the CIPS Whole Life Asset Management (L4M7) examination. Failure in the CIPS Whole Life Asset Management (L4M7) test will lead to loss of confidence, time, and money. Don't worry because "TestKingFree" is here to save you from these losses with its updated and real CIPS L4M7 exam questions.
| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Available Languages: | English |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Exam Duration: | 120 minutes |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| 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 |
>> Latest L4M7 Exam Question <<
The CIPS Whole Life Asset Management (L4M7) is one of the popular exams of L4M7. It is designed for CIPS aspirants who want to earn the CIPS Whole Life Asset Management (L4M7) certification and validate their skills. The L4M7 test is not an easy exam to crack. It requires dedication and a lot of hard work. You need to prepare well to clear the L4M7 test on the first attempt. One of the best ways to prepare successfully for the L4M7 examination in a short time is using real CIPS L4M7 Exam Dumps.
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.
NEW QUESTION # 26
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?
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
Reference:
LO 2, AC 2.2
NEW QUESTION # 27
For which of the following is the 'delphi method' used?
Answer: C
Explanation:
Delphi method is a structured forecasting technique using a panel of experts and a number of rounds of questioning. Responses are shared after each round and the experts encouraged to recon-sider their own responses. It is intended to achieve a consensus view.
NEW QUESTION # 28
Which of the following is the Japanese word for 'billboard' or 'signboard'?
Answer: D
Explanation:
Kanban (##) (signboard or billboard in Japanese) is a scheduling system for lean manufacturing and just-in- time manufacturing (JIT).
Poka-yoke (####, [poka yoke]) is a Japanese term that means "mistake-proofing" or "inadvertent error prevention". A poka-yoke is any mechanism in any process that helps an equipment operator avoid (yokeru) mistakes (poka). Its purpose is to eliminate product defects by preventing, correcting, or drawing attention to human errors as they occur.
Kaizen is a concept referring to business activities that continuously improve all functions and involve all employees from the CEO to the assembly line workers. Kaizen (##) is the Sino-Japanese word for
"improvement". Kaizen also applies to processes, such as purchasing and logis-tics, that cross organizational boundaries into the supply chain.
Muda (##, on'yomi reading) is a Japanese word meaning "futility; uselessness; wastefulness", and is a key concept in lean process thinking, like the Toyota Production System (TPS) as one of the three types of deviation from optimal allocation of resources (the others being mura and muri). Waste reduction is an effective way to increase profitability.
Reference: CIPS study guide page 124
LO 2, AC 2.3
NEW QUESTION # 29
Which type of codes can a barcode laser scanner (linear scanner) read?
Answer: C
Explanation:
One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spac-ings of parallel lines. These include some of the most traditional and well-recognized barcode types, such as the UPC and EAN codes. 1D barcodes are also commonly referred to as linear barcodes.
Two-dimensional (2D) barcodes look like squares or rectangles that contain many small, individual dots. QR codes, Data matrix and Aztec codes are examples of 2D barcodes Numerical code contains all numbers, no letters There are two different scan engine types (laser scanner versus imager) for interpreting the infor-mation provided in the barcode. Many companies producing the technology capable of reading the barcode data uses the term "scanning" regardless of the type of scan engine used. For the purposes of these FAQs, we are trying to draw a clearer distinction for you.
Linear (1D) codes can be scanned with a traditional laser scanner. A laser scan engine uses a laser and mirror to create the bar that scans the information. 1D barcode scanners will only interpret the linear barcode scanning technology. 1D barcode scanners are typically less expensive since the type of encryptions they can decode is limited.
Diagram Description automatically generated
LO 1, AC 1.2
NEW QUESTION # 30
To make loading/unloading more effective and efficient, which feature should be included in vehi-cle dock design?
Answer: D
Explanation:
Warehouse dock is a feature of warehouse design - used for unloading and loading vehicles. It is crucial to carefully design where they are externally located in a facility and choose the best type of dock depending on the available space.
In many cases efficient and effective loading and unloading is achieved by a dock design that places the loading and unloading vehicle' rear platform at the same height as the warehouse floor.
Slopes in docking areas must always be as small as possible: the gentler the slope, the less chance of errors and accidents. If a warehouse is going to be used by large volume vehicles, such as high cubes, it may be necessary to install special devices, such as hydraulically adjustable docks or ground level lift platforms.
Current trends indicate that vehicles that are longer and wider and have a greater volume will be increasingly common. Therefore, when planning the location of the docks, it would be useful to ensure that there is a large area for the approach, manoeuvring and build-up of large vehicles.
One option to increase the efficiency of the docks is to combine reception and dispatch into a single area (dual use). This solution drastically reduces costs and, above all, increases the use of handling equipment and personnel. However, if this is justified by the volume of material flows, there can also be separate access points for each function (some for reception and others for dispatch - 'sole use').
Reference:
- Warehouse docking areas - Interlake
- CIPS study guide page 13
LO 1, AC 1.1
NEW QUESTION # 31
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