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CIPS L4M7 certification exam is ideal for individuals who are involved in asset management roles within their organization, such as facilities managers, maintenance managers, and procurement professionals. It is also suitable for those who are looking to enhance their skills and knowledge in asset management to pursue a career in this field. By obtaining this certification, professionals will be able to demonstrate their expertise in asset management principles and practices, which can help them to advance their careers and improve their job prospects.

CIPS L4M7 Certification Exam is designed to assess the candidate's knowledge and skills in various areas of asset management, including the management of assets throughout their entire life cycle, from acquisition to disposal. L4M7 exam is also designed to test the candidate's understanding of the principles of whole life asset management, which involves the optimization of asset performance over an extended period.

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CIPS Whole Life Asset Management Sample Questions (Q72-Q77):

NEW QUESTION # 72
Warehouse automation involves the use of technology to perform as many warehousing tasks as possible.
There are several benefits that can be gained by using automation in a warehouse. They are...

A. Decreased speed, increasing cost, improved efficiency, and maximising space
B. Maintenance costs, downtime due to malfunction, investment costs, and reduced flexibility
C. Increased speed, decreasing cost, improved efficiency, and maximised space
D. Reduced customer service, reduced picking errors, reduced accidents, and minimised space utilisation

Answer: C

NEW QUESTION # 73
A major investment bank is planning to purchase a complex banking system that will interface with multiple applications at varying times of the day. Before deploying the system, there are various levels of testing that must be performed through joint testing between the in-house team and off-shore testing consultants. The testing will be performed in a resource-constrained shared environment and managed by the on-shore development team. The costs for testing are generally classified as...?

A. Insurance
B. Maintenance costs
C. Acquisition costs
D. Purchase prices

Answer: C

Explanation:
In the scenario, the buying organisation (investment bank) must conduct various types of testing before the deployment of the software system. These tests can be functional testing, factory ac-ceptance testing and/or user acceptance testing. The costs for all these types of testing are classified as acquisition costs with regards of total cost of ownership.

NEW QUESTION # 74
MRP software is applied to schedule which of the following?

A. Executive meetings
B. Production processes
C. Tax accounting
D. Human resource management

Answer: B

Explanation:
Material Requirements Planning (MRP) software manages material requirements for manufacturing processes.
LO 2, AC 2.3

NEW QUESTION # 75
What advantage can the use of ABC classification of stock provide in warehouse design?

A. It determines where each item is to be located within the warehouse to aid inspection procedures
B. It allows the organisation to categorise items in alphabetical order for easier storage and retrieval
C. It gives purchasing staff more time to concentrate on those items that have most financial benefit to the organisation
D. It assists in deciding on the most appropriate layout, handling systems, and what type of picking system to introduce

Answer: D

NEW QUESTION # 76
In just in time production system, when is an upstream production triggered?

A. After the management team forecasts the future demands
B. When the production workers are idle
C. When the inventory level reaches the reorder point
D. When downstream operations summon the upstream production

Answer: D

Explanation:
Along with Jidoka, Just-in-time (JIT) production is one of the pillars of the two Toyota Production System. It is a production method that fundamentally changed the way large-scale production oc-curred in the 20th century, and is the basis for Lean Manufacturing (Lean for short), which is the school of thought many modern companies have modeled themselves after.
JIT production is often called a pull system because instead of using traditional push production where scheduling is done based on historical data and demand forecasting, production is scheduled based on actual customer orders. Rather than predicting demands from customers, the JIT method requires that actual customer demand exists. Production doesn't begin before an order triggers it. This system not only reduces the amount of extra inventory, but also reduces the amount of work in progress at one time.

NEW QUESTION # 77
......

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L4M7 Reliable Exam Labs - Free PDF First-grade L4M7 - CIPS Whole Life Asset Management Learning Materials

100% Free L4M7 – 100% Free Reliable Exam Labs | Efficient CIPS Whole Life Asset Management Learning Materials

CIPS Whole Life Asset Management Sample Questions (Q72-Q77):