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CIPS Updated L4M7 Exam Questions and Answers by jade

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CIPS L4M7 Exam Overview :

Exam Name: Whole Life Asset Management
Exam Code: L4M7 Dumps
Vendor: CIPS Certification: CIPS Level 4 Diploma in Procurement and Supply
Questions: 255 Q&A's Shared By: jade
Question 32

Which of the following are essential aspects that are required for the successful implementation of Just-In-Time (JIT)? SelectTWOthat apply.

Options:

A.

The purchasing of parts in bulk at lower prices covers the costs of delivery and storage required for JIT

B.

Parts must arrive where they are needed, when they are needed, and in the exact quantity needed

C.

All parts arriving must be of a quality standard which is usable and free from defects

D.

The cost of carrying increased parts inventory to meet customer demand is transferred to the customer

E.

Suppliers must hold a buffer stock of components to ensure that they are able to meet JIT demand

Discussion
Question 33

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

Options:

A.

2 and 4 only

B.

1 and 4 only

C.

2 and 3 only

D.

1 and 3 only

Discussion
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Question 34

Which of the following is the formula for calculating the re-order level?

Options:

A.

Average usage in a lead-time / Required level of safety stock

B.

Required level of safety stock x Average usage in a lead-time.

C.

Required level of safety stock – Average usage in a lead-time

D.

Average usage in a lead-time + Required level of safety stock

Discussion
Question 35

Nuclear Energy Group Limited (NEG) has a number of investment options currently under appraisal. As these are all long-term investments (more than 30 years), NEG is adopting a total cost of ownership approach. It has gathered data on all associated costs over the life of the investment. Which of the following will be regarded as end-of-life costs?

Options:

A.

Insurance costs

B.

Servicing costs

C.

Installation costs

D.

Decommissioning costs

Discussion
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