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CIPS L4M7 Certification Exam covers a range of topics related to life cycle management of assets, including asset identification, data collection, analysis, and decision-making processes. It also covers important topics such as risk management, maintenance strategies, and sustainability principles. L4M7 Exam is designed to provide candidates with a comprehensive understanding of the principles and practices of whole life asset management.
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CIPS L4M7 (CIPS Whole Life Asset Management) Exam is a globally recognized certification program designed for professionals who want to develop their skills and knowledge in the field of asset management. CIPS Whole Life Asset Management certification program is specifically designed for individuals who work in the public and private sectors, and who are responsible for managing assets throughout their entire lifecycle. The CIPS L4M7 Exam covers a wide range of topics, including asset management strategies, planning, design, construction, operation, maintenance, and disposal. The program is ideal for professionals who want to enhance their skills and knowledge in asset management and take their career to the next level.
CIPS Whole Life Asset Management Sample Questions (Q223-Q228):
NEW QUESTION # 223
Which of the following is NOT an improvement available in ERP II in compare with ERP?
- A. ERP II offers better integration with other proprietary software
- B. ERP II crosses all sectors and segments of business, including service, government and asset-based industries
- C. ERP II enables the organisation to collaborate with trading partners across the supply chain
- D. ERP II systems are closed and silo-working
Answer: D
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 # 224
Buffer stock is a level of stock which...
- A. Is when the physical ordering process should start to replenish used items
- B. Is half of the actual stock that needs to be in the warehouse
- C. Is the minimum stock level below which actual stock should not fall
- D. Is the maximum stock in inventory
Answer: C
NEW QUESTION # 225
Removal or disposal of assets should depend on an assessment of which of the following? SelectTWOthat apply.
- A. Type of equipment and incorporated components
- B. Consumer demand for the product
- C. The total cost of the equipment
- D. The current rate of interest for new equipment
- E. Location of the equipment and accessibility
Answer: A,E
NEW QUESTION # 226
The optimum balance in the standard ISO 18602:2013 (Packaging and the environment - Optimi-zation of the packaging system) considers which of the following factors?
1. Environmental impact of losses due to lack of packaging
2. The process for packaging design, including material selection
3. Procedures and requirements for packaging that are suitable for organic recycling
4. Environmental impact of excess packaging
- A. 1 and 3 only
- B. 2 and 3 only
- C. 1 and 4 only
- D. 2 and 4 only
Answer: C
Explanation:
ISO 18602:2013 is about Packaging and the environment - Optimization of the packaging system. ISO 18602:2013 specifies requirements and a procedure for assessment of packaging to ensure that the weight or volume of its material content is optimized consistent with the functions of packaging. This is one of several options for reducing the impact of packaging on the environment.
It also provides methodologies and procedures for
- determining the amount and minimization of substances or mixtures hazardous to the environ-ment, and
- determining the amount of four heavy metals (lead, cadmium, mercury, hexavalent chromium) in packaging.
The optimum balance in this standard weighs the environmental impact of losses that may happen with no packaging or inadequate packaging against the environmental impact from excess packag-ing.
The process for packaging design, including material selection, is not part of ISO 18602:2013.
The procedure for applying ISO 18602:2013 is contained in ISO 18601.
Reference:
LO 1, AC 1.3
NEW QUESTION # 227
Which of the following are likely to be included in a formal business case document for stakeholders to support the purchase of a new piece of specialist equipment?
* The conformance standard that relates to the future operation of the equipment
* The context of proposed purchase in relation to business strategy alignment
* Resource requirements including the managerial and operational team resources
* The planned preventative maintenance plan for the equipment to ensure effectiveness
- A. 2 and 4 only
- B. 1 and 2 only
- C. 3 and 4 only
- D. 2 and 5 only
Answer: A
NEW QUESTION # 228
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