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[General] Quiz CIPS - L4M7 - CIPS Whole Life Asset Management Useful Reliable Exam Cost

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【General】 Quiz CIPS - L4M7 - CIPS Whole Life Asset Management Useful Reliable Exam Cost

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CIPS L4M7 exam covers various aspects of asset management, including asset planning, acquisition, operation, maintenance, and disposal. It also covers the principles of whole life costing and risk management, as well as the legal and regulatory frameworks that govern asset management practices.
CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification that validates the knowledge and skills of professionals involved in whole life asset management. CIPS Whole Life Asset Management certification is designed for individuals who are responsible for managing assets throughout their entire life cycle, from procurement to disposal. The CIPS L4M7 Certification is particularly relevant for those working in the fields of procurement, asset management, maintenance, and disposal.
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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a professional certification exam offered by the Chartered Institute of Procurement & Supply (CIPS). L4M7 Exam is designed to test the knowledge and skills of professionals who are involved in asset management, including procurement and supply chain management.
CIPS Whole Life Asset Management Sample Questions (Q41-Q46):NEW QUESTION # 41
MRP software is applied to schedule which of the following?
  • A. Tax accounting
  • B. Human resource management
  • C. Production processes
  • D. Executive meetings
Answer: C
Explanation:
Material Requirements Planning (MRP) software manages material requirements for manufacturing processes.
LO 2, AC 2.3

NEW QUESTION # 42
The term triple bottom line refers to a method for organizations to measure performance in three ways. Which of the following describe the triple bottom line? Select THREE that apply.
* Economic sustainability
* Market sustainability
* Quality sustainability
* Environmental sustainability
* Technological sustainability
* Social sustainability
  • A. 3, 5, and 6
  • B. 1, 3, and 5
  • C. 1, 4, and 6
  • D. 2, 4, and 5
Answer: C
Explanation:
The triple bottom line (TBL) framework evaluates organizational performance based on:
* Economic sustainability: Focusing on financial stability and profitability.
* Environmental sustainability: Ensuring that business activities minimize negative ecological impacts.
* Social sustainability: Committing to ethical practices and community well-being.
TBL aligns with whole-life asset management principles by incorporating sustainability into asset use and disposal, ensuring long-term organizational value beyond just financial metrics.

NEW QUESTION # 43
A warehouse manager is evaluating the use of Automated Guided Vehicles (AGVs) within a repetitive task environment. After reviewing their use and price, the manager decided to invest in several AGVs. Were they correct in doing this?
  • A. No, as they are only suitable for use in non-repetitive task environments
  • B. No, as it reduces the flexibility of the warehouse operations
  • C. Yes, as it will reduce the costs of employing labour
  • D. Yes, organisations must use high-tech solutions where possible
Answer: C

NEW QUESTION # 44
What are the contents of master production schedule in MRP system?
  • A. The investment required for production
  • B. The total number of labour required to produce the final product
  • C. How many final products will be made and when to make them
  • D. What components and materials are and when to purchase them
Answer: C
Explanation:
A master production schedule (MPS) is a plan for individual commodities to be produced in each time period such as production, staffing, inventory, etc.[1] It is usually linked to manufacturing where the plan indicates when and how much of each product will be demanded.[2] This plan quantifies significant processes, parts, and other resources in order to optimize production, to identify bottlenecks, and to anticipate needs and completed goods. Since a MPS drives much factory activity, its accuracy and viability dramatically affect profitability. Typical MPSs are created by software with user tweaking.
Reference:
LO 2, AC 2.3

NEW QUESTION # 45
MRP system is the most suitable IT system to manage which type of items?
  • A. Fast moving components
  • B. Independent demand
  • C. Dependent demand
  • D. Construction projects
Answer: C
Explanation:
Material requirement planning (MRP) is a production planning and material (inventory) control system used in manufacturing. Objectives of MRP are to ensure materials are available for production while minimising inventory and to plan production and procurement activities.
Bill of materials (BOM) is an important component of MRP. BOM is also known as product struc-turer. This lists all the items that comprise each assembly and sub-assembly that make up the final product or end item. Therefore, MRP is commonly used to manage dependent demand stock.
Reference:
LO 2, AC 2.3

NEW QUESTION # 46
......
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