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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Available Languages: | English |
| Exam Duration: | 120 minutes |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Exam Format: | Computer-based objective test, Multiple-choice questions |
| Recommended Training: | Approved CIPS Study Centres CIPS Official Learning Resources |
| 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 Exam is ideal for professionals who are looking to enhance their knowledge and skills in the field of asset management. L4M7 exam is suitable for individuals who are involved in the management of physical assets, such as buildings, infrastructure, and equipment. It is also suitable for professionals who are involved in the management of other types of assets, such as financial assets or intellectual property.
NEW QUESTION # 269
A hospital is purchasing a new software product that will advise nurses when to give medications to hospitalised patients. This is a mobile application that will be used on tablets carried by the nurses. The software is being developed and tested by a company that specialises in mobile medical applications. This software will interface with existing hospital software that orders the medications from the pharmacy. Which acceptance test activity will be required to check whether the new software integrates well with current IT system?
Answer: B
Explanation:
In the scenario, one of the requirements for the new software is that the new one will interface with current system. Compatibility testing would be the most appropriate test here.
There are also other acceptance tests that are mentioned in L4M7 study guide:
- Health and safety test aims at establishing new health and safety routines, providing guidance notices and documentation and ensuring designed-in safety in operation.
- Stress testing (sometimes called torture testing) is a form of deliberately intense or thorough testing used to determine the stability of a given system, critical infrastructure or entity. It involves testing beyond normal operational capacity, often to a breaking point, in order to observe the results.
- A dry run (or a practice run) is a testing process where the effects of a possible failure are inten-tionally mitigated. For example, an aerospace company may conduct a "dry run" test of a jet's new pilot ejection seat while the jet is parked on the ground, rather than while it is in flight.
The usage of "dry run" in acceptance procedures (for example in the so-called FAT = factory ac-ceptance testing) is meant as following: the factory - which is a subcontractor - must perform a complete test of the system it has to deliver before the actual acceptance by customer.
Reference:
LO 3, AC 3.1
NEW QUESTION # 270
Radio Frequency Identification (RFID) is an electronic technology that transmits data from tagged items.
What are the advantages of RFID technology? SelectTWOthat apply.
Answer: A,D
NEW QUESTION # 271
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: C
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 # 272
Which of the following is the correct statement about total ordering cost?
Answer: A
Explanation:
Typically, ordering costs include expenses for a purchase order, labor costs for the inspection of goods received, labor costs for placing the goods received in stock, labor costs for issuing a supplier's invoice and labor costs for issuing a supplier payment. These costs are irrelevant from the size of the order and are incurred every time a firm places an order.
The total ordering cost will be equal to ordering cost per order multiply with number of orders.
Reference:
LO 2, AC 2.2
NEW QUESTION # 273
Which is the best definition of reorder point?
Answer: B
Explanation:
Reorder point is the point either in time or in a process when the next order should be placed.
Reference:
LO 2, AC 2.3
NEW QUESTION # 274
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