EXAM L4M7 REVIEW FREE PDF | VALID TEST L4M7 KING: CIPS WHOLE LIFE ASSET MANAGEMENT

Exam L4M7 Review Free PDF | Valid Test L4M7 King: CIPS Whole Life Asset Management

Exam L4M7 Review Free PDF | Valid Test L4M7 King: CIPS Whole Life Asset Management

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Tags: Exam L4M7 Review, Test L4M7 King, L4M7 Real Dumps, L4M7 PDF Download, L4M7 Exam Pass4sure

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Top Exam L4M7 Review | Useful Test L4M7 King and Unparalleled CIPS Whole Life Asset Management Real Dumps

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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification that validates the knowledge and skills required to efficiently manage assets throughout their entire lifecycle. CIPS Whole Life Asset Management certification is designed for professionals who are involved in asset management, such as engineers, project managers, facility managers, and maintenance managers.

CIPS L4M7 exam is an essential certification for professionals who are involved in asset management. It is an internationally recognized certification that has been developed by the Chartered Institute of Procurement and Supply (CIPS), which is a leading global professional organization in the field of procurement and supply chain management. CIPS Whole Life Asset Management certification demonstrates that the individual has a thorough understanding of the principles and practices of asset management, and is capable of managing assets in a cost-effective and efficient manner.

CIPS Whole Life Asset Management Sample Questions (Q137-Q142):

NEW QUESTION # 137
Multiple approval levels for a small purchase request is an example of which type of waste?

  • A. Inventory
  • B. Over-production
  • C. Over-processing
  • D. Not using talent

Answer: C

Explanation:
Lean thinking aims to remove wastes from work processes. Before diving into the 8 wastes, it is important to understand what waste is. Waste is any action or step in a process that does not add value to the customer. In other words, waste is any process that the customer does not want to pay for.
The original seven wastes (Muda) was developed by Taiichi Ohno, the Chief Engineer at Toyota, as part of the Toyota Production System (TPS). The seven wastes are Transportation, Inventory, Motion, Waiting, Overproduction, Overprocessing and Defects. They are often referred to by the acronym 'TIMWOOD'. The
8th waste of non-utilized talent or 'Skills' of workers was later introduced in the 1990s when the Toyota Production System was adopted in the Western world. As a result, the 8 wastes are commonly referred to as
'TIMWOODS'.
Source: The lean way
Multiple approval levels for a small purchase request is an example of over-processing since this adds more unnecessary work to users and procurement professionals.


NEW QUESTION # 138
When using ABC analysis to classify inventory, which factors must be considered?
1. Demand uncertainty of each item
2. Cumulative percentage of items
3. Cumulative percentage usage value of items
4. Overall inventory turnover

  • A. 1 and 4 only
  • B. 2 and 3 only
  • C. 2 and 4 only
  • D. 1 and 3 only

Answer: B

Explanation:
ABC analysis is applied to stock and its management. It is based loosely on the Pareto principles, better known as 80/20 rule. Pareto principle is the theory that 80% of outcome results from 20% of inputs. For example, 80% of sales are to the top 20% of customers; 80% of spend on inventory is accounted for by the top
20% of stock items.
The ABC concept is based on Pareto's law. The following steps are carried out for the ABC analy-sis.
- Step 1: Compute the annual usage value for every item in the sample by multiplying the annual requirements by the cost per unit.
- Step 2: Arrange the items in descending order of the usage value calculated above.
- Step 3: Make a cumulative total of the number of items and the usage value.
- Step 4: Convert the cumulative total of the number of items and usage values into a percentage of their grand totals.
- Step 5: Draw a graph connecting cumulative % items and cumulative % usage value. The graph is divided approximately into three segments, where the curve sharply changes its shape. This indicates the three segments A, B and C.
LO 2, AC 2.1


NEW QUESTION # 139
Amanda is the purchasing manager for AB Construction based in France. She is considering purchasing an asset from overseas but knows she must account for fluctuations in exchange rates in the contract. Is Amanda correct?

  • A. Yes, as Amanda will be able to decide the currency exchange rates to be used
  • B. Yes, as AB Construction could pay more for the asset than intended and Amanda should include a currency fluctuation clause
  • C. No, as it will be better to purchase the asset in AB Construction's local currency as it would be efficient and more stable
  • D. No, as the price can be re-negotiated post-contract sign-off by AB Construction and the supplier

Answer: B

Explanation:
Including a currency fluctuation clause protects against exchange rate volatility, which can increase the final cost if the currency depreciates. Whole-life asset management often incorporates such risk management measures to ensure cost predictability and avoid unanticipated financial impact on long-term projects.


NEW QUESTION # 140
ASI Ltd is known for its commitment to sustainability. ASI builds railroad ties and pilings using recycled plastic bottles and industrial waste instead of standard materials such as wood, steel, and cement. This practice helps the company save 15% in compare with traditional material purchases. Which pillar of sustainability would include the practice of ASI Ltd?

  • A. Profit and People
  • B. Profit and Expense
  • C. People and Planet
  • D. Planet and Profit

Answer: D

Explanation:
The triple bottom line is a sustainability framework that examines a company's social, environment, and economic impact (or People, Planet, Profit). ASI Ltd practice would reduce the waste into the environment as well as keep the business more profitable. So the correct answer should be Planet and Profit.
Reference:
- 25 Years Ago I Coined the Phrase "Triple Bottom Line." Here's Why It's Time to Rethink It.
- CIPS study guide page 202
LO 3, AC 3.3


NEW QUESTION # 141
Among different types of costs associated with inventory, the costs of obtaining purchase approvals are...?

  • A. Holding costs
  • B. Purchasing price
  • C. Costs of stockouts
  • D. Acquisition costs

Answer: D

Explanation:
Direct and indirect costs of holding inventory include the following:
- Acquisition costs: preparing the requisition, supplier selection and approvals, time and costs of the procurement process, etc.
- Holding costs
- Costs of stockouts
LO 2, AC 2.2


NEW QUESTION # 142
......

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