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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Exam Price: | ยฃ140 - ยฃ180 (varies by region, member/non-member) |
| Exam Format: | Objective response format, Multiple-choice questions |
| Real Exam Qty: | 60 |
| Certificate Validity Period: | Valid for 3 years after certification |
| Passing Score: | 70% |
| Exam Duration: | 90 minutes |
| Related Certifications: | Level 3 Advanced Certificate in Procurement and Supply Operations Level 5 Advanced Diploma in Procurement and Supply |
| Available Languages: | English, Italian, Chinese, French, Spanish, Portuguese, German |
| Recommended Training: | L4M7 Official Study Guide CIPS Accredited Training Providers |
| Exam Registration: | CIPS Official Exam Booking |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Online remote proctored or in-person at approved test centres |
| Pre Condition: | No mandatory prerequisites; recommended for learners with Level 3 qualification or relevant work experience |
| Official Syllabus URL: | https://www.cips.org/exam-booking/l4m7-whole-life-asset-management-core |
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CIPS L4M7 Exam is a highly specialized qualification that focuses on Whole Life Asset Management. L4M7 exam is designed for professionals who are looking to enhance their skills in the field of asset management and develop a deep understanding of the entire lifecycle of an asset.
NEW QUESTION # 34
Which of the following are examples of subjective methods of forecasting? Select TWO that apply.
* Trend line analysis
* Moving averages
* Market research
* Expert opinion
* Seasonal variations
Answer: A
Explanation:
Subjective forecasting methods, like market research and expert opinion, rely on qualitative judgment rather than numerical data. These methods are valuable when historical data is limited, or when anticipating market changes. Whole-life asset management may use subjective forecasts for long-term planning and to account for factors not captured in quantitative data.
NEW QUESTION # 35
TriProducts Inc. cannot access further capital to invest in inventory. The company has traditionally maintained a low inventory level. However, a situation has arisen for the company where demand was much higher than expected. As a result, the level of safety stock was too low to fill all orders. Which of the following is likely to be the impact for TriProducts Inc?
Answer: A
NEW QUESTION # 36
One of the important outputs of an MRP system is the material requirement plan. This plan shows the net requirements for materials or components to make the final product. Which of the following best describes the net material requirements?
Answer: B
Explanation:
The net requirements are worked out using the following equation:
Net requirements = Total requirements - Available inventory
Where:
Total requirements = Gross requirements
Available inventory = Inventory on-hand + Units on-order
In the other words: Net requirements = Gross requirements - Inventory on-hand - Units on-order Inventory on-hand is also known as Inventory level, whereas Units on-order can be called Scheduled receipt.
Reference: CIPS study guide page 117
LO 2, AC 2.3
NEW QUESTION # 37
Resevoir Inc runs several oil refineries across the country. These refineries require heavy invest-ment, particularly in maintenance, repair and operating (MRO) inventory. But the inventory turno-ver rate of these MRO items are low, while some items have expired date, which increases the risks of obsolescence. Which of the following methods can address the issues of these MRO items?
Answer: B
Explanation:
Where stock turn (inventory turnover) is low and there are potential risks of redundancy or obsolescence, the buying organisation may adopt vendor owned stock. In this system, a supplier (vendor) maintains a stock of items ready to be used at the point of customer consumption. The supplier owns the stock until it is used by the purchaser; only then is the purchaser invoiced for it.
Just in case and larger safety stock would significantly increase the stock level, which may cause redundancy or obsolescence.
Forrester effect (or Bullwhip effect) is a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as one moves further up the supply chain.
Reference: CIPS study guide page 106
LO 2, AC 2.2
NEW QUESTION # 38
A logistics company has a 2-story warehouse in the suburban are
a. The goods receiving area and dispatch area are located on the ground floor only. There is a lift connecting the two floors. The daily operations of the warehouse are quite busy. Which of the following would the best arrangement for this warehouse?
Answer: B
Explanation:
The purposes of a warehouse are to keep the inventories in good condition and to ensure that the operations is smooth. In the scenario, the warehouse has 2 stories, with goods-in and goods-out areas located on the ground floor and a lift connecting the stories. The lift could become a bottleneck if the goods inside the warehouse are not well-arranged.
Since the lift is often small with limited load capacity, putting heavy bulk items on the first floor will cause bottleneck and increase the chance of accidents. Therefore, palletised items (even they have low-usage) should be placed on the ground floor. Smaller and lighter items should be stored on the first floor.
Reference:
LO 1, AC 1.1
NEW QUESTION # 39
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