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CIPS L4M7 certification exam is designed for professionals who are interested in advancing their knowledge in the field of asset management. CIPS Whole Life Asset Management certification program offers a comprehensive understanding of the principles involved in managing assets throughout their entire lifecycle, including acquisition, utilization, maintenance, and disposal. L4M7 Exam covers a range of topics, including asset identification and classification, maintenance strategies, risk management, and sustainability.

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CIPS Whole Life Asset Management Sample Questions (Q136-Q141):

NEW QUESTION # 136
Which of the following is the correct statement about total ordering cost?

A. Fall with the per period usage rate
B. Equal the number of orders placed times the cost of placing an order
C. Rise as the average stock level rises
D. Rise as the order quantity rises

Answer: B

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 # 137
Buffer stock is a level of stock which ...

A. is half of the actual stock that needs to be in the warehouse
B. is when the physical ordering process should start to replenish used items
C. is the minimum stock level below which actual stock should not fall
D. is the maximum stock in inventory

Answer: C

Explanation:
Buffer stock serves as a safety net to prevent stockouts by ensuring that a minimum stock level is always maintained. This strategy is essential in whole-life asset management to manage demand fluctuations and minimize the risk of supply chain disruptions.

NEW QUESTION # 138
For which of the following is the 'delphi method' used?

A. Controlling products
B. Classifying products
C. Valuing stock
D. Forecasting demand

Answer: D

Explanation:
Delphi method is a structured forecasting technique using a panel of experts and a number of rounds of questioning. Responses are shared after each round and the experts encouraged to recon-sider their own responses. It is intended to achieve a consensus view.
Reference:
LO 2, AC 2.3

NEW QUESTION # 139
Which of the following is an advantage of hiring compared to buying asset equipment?

A. Hiring is the most suitable option for high-usage equipment
B. Responsibility for the repair of the equipment normally lies with the owner
C. Hiring eliminates the need for storage space for the equipment
D. Hiring increases the requirement for finance credit for the equipment

Answer: B

Explanation:
Hiring offers the advantage that the repair and maintenance responsibility usually lies with the equipment owner (lessor). This helps the hiring organization avoid costs associated with unexpected repairs and maintenance, beneficial in managing operating expenses and ensuring equipment uptime.
Whole-life asset management encourages hiring for short-term or temporary use, where maintenance responsibilities can be deferred to the provider, thus lowering total ownership costs for the user.

NEW QUESTION # 140
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

A. 2 and 5 only
B. 1 and 2 only
C. 1 and 5 only
D. 3 and 4 only

Answer: D

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 # 141
......

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Latest CIPS L4M7 Exam Materials - L4M7 Vce Free

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CIPS Whole Life Asset Management Sample Questions (Q136-Q141):

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