L4M7 Passed, Sample L4M7 Questions Answers

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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification program designed for professionals who are interested in building a career in asset management. This program is specifically focused on whole life asset management, which is a critical aspect of any organization's overall asset management strategy.

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CIPS Whole Life Asset Management Sample Questions (Q174-Q179):

NEW QUESTION # 174
Which of the following costs does the EOQ minimise?

A. Total cost of safety stock
B. Total cost of carrying stock
C. Total cost of annual inventory cost
D. Total cost of ordering inventory

Answer: C

Explanation:
Economic order quantity (EOQ) was developed in 1913 by Ford W.
Harris and has been refined over time. The formula assumes that demand, ordering, and holding costs all remain constant. The EOQ minimizes the total annual inventory cost.
EOQ formula is as follow:

LO 2, AC 2.3

NEW QUESTION # 175
Stockyards are suitable for specific materials with which of the following characteristics? SelectTWOthat apply.

A. Equipment that requires larger specialised handling
B. Small equipment that is of relatively low value
C. Equipment with a long delivery lead time
D. Equipment only suited for inside storage
E. Items that are bulky and individually packed

Answer: A,E

NEW QUESTION # 176
Which of the following is another name for scheduled (routine) maintenance?

A. Run to breakdown
B. Preventative maintenance
C. Predictive maintenance
D. Corrective maintenance

Answer: B

NEW QUESTION # 177
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. No, as the price can be re-negotiated post-contract sign-off by AB Construction and the supplier
B. No, as it will be better to purchase the asset in AB Construction's local currency as it would be efficient and more stable
C. Yes, as AB Construction could pay more for the asset than intended and Amanda should include a currency fluctuation clause
D. Yes, as Amanda will be able to decide the currency exchange rates to be used

Answer: C

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 # 178
XYZ Ltd is a large retailer who offers a range of products with different margins. The warehouse manager suggests that different product groups should have different level of safety stock. The appropriate level of safety stock is typically determined by...?

A. Expected stockout cost multiplies with product margin
B. Choosing the level of safety stock that assures a given service level
C. Carrying sufficient safety stock so as to eliminate all stockouts
D. Taking the square root of the economic order quantity

Answer: B

Explanation:
Safety stock is the stock held as a contingency or insurance against disruption or unexpected de-mand. Holding safety stock reduces the risks of stockouts, when an organisation is unable to meet an order or continue production due to lack of finished goods or input materials.
For single items, an extra investment in inventory (higher levels of safety stock) will always in-crease customer service levels. Conversely, higher service levels imply larger quantities of safety stocks and an increased investment in inventory. (Procurement and Supply Chain Management - 9th Edition) However, high levels of safety stocks also increase the inventory cost. There must be a balance between inventory costs and customer service. Thus, calculating the should-be safety stock based on a determined service level has long been recommended by many professionals.
Reference:
LO 2, AC 2.2

NEW QUESTION # 179
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L4M7 Passed, Sample L4M7 Questions Answers

Sample L4M7 Questions Answers | L4M7 Exam Actual Questions

CIPS Whole Life Asset Management Sample Questions (Q174-Q179):

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