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CIPS L4M7 Certification Exam covers a wide range of topics related to asset management, including asset planning, procurement, maintenance, disposal, and risk management. L4M7 exam is designed to test the candidate's ability to apply these concepts in real-world scenarios, making it an ideal certification for professionals who want to demonstrate their practical knowledge of asset management. L4M7 Exam is also designed to be accessible to professionals from different backgrounds, with no specific prerequisites required to take the exam.

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CIPS Whole Life Asset Management Sample Questions (Q123-Q128):

NEW QUESTION # 123
When designing the layout of a warehouse or stores area, one of the factors to consider is the width of the aisles between the racking. Which of the following is a main consideration when calculating the aisle width?

A. Overall height of the driver's cage of the forklift truck
B. Turning circle of the forklift truck and the size of the pallet being carried
C. Dimensional depth and height of pallet racks
D. Dimensional length and depth of the items on a pallet

Answer: B

NEW QUESTION # 124
Which one of the following statements is true about radio frequency identification (RFID)?

A. RFID tags require laser scanning.
B. A passive RFID tag does not use an antenna
C. Normally passive RFID tags store ID numbers
D. An active RFID tag does not require a power source

Answer: C

Explanation:
Radio frequency identification (RFID) are items which use radio technology to identify itself and its location subject to having appropriate hardware and software.
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate.
A RFID Reader is a device that uses radio-frequency waves to wirelessly transfer data between itself and a RFID tag/label in order to identify, categorize and track assets. When combined with the right RFID software, a RFID reader can identify objects quicker, more accurately, at a reduced overall cost, and at various points of the object's lifecycle.
Passive RFID systems use tags with no internal power source and instead are powered by the electromagnetic energy transmitted from an RFID reader. Passive RFID tags are used for applica-tions such as access control, file tracking, race timing, supply chain management, smart labels, and more.
Active RFID systems have three essential parts - a reader or interrogator, antenna, and a tag. Ac-tive RFID tags possess their own power source - an internal battery that enables them to have ex-tremely long read ranges as well as large memory banks.
Reference:
LO 1, AC 1.2

NEW QUESTION # 125
A retailer wants to improve its service level in inventory management from 95% to 97%. Which of the following is the best course of action?

A. Decreasing safety stock
B. Increasing safety stock
C. Expanding replenishment lead time
D. Holding more cycle stock

Answer: A

Explanation:
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) Reference: CIPS study guide page 104-105 LO 2, AC 2.2

NEW QUESTION # 126
With D is the annual demand (units), S is cost per order, H is annual carrying cost per unit; the formula for Economic Order Quantity is....?

A. #(D*S/3H)
B. #(D*S/2H)
C. #(D*S*H)
D. #(2D*S/H)

Answer: D

Explanation:

LO 2, AC 2.3

NEW QUESTION # 127
Decommissioning, removal and disposal of assets may have impact on the environment. An organisation should have policies and procedures in place to enhance its environmental performance. Which standard family provides the guidance on environmental policies and procedures?

A. ISO 9000 family
B. ISO 22000 family
C. ISO 27000 family
D. ISO 14000 family

Answer: D

Explanation:
The ISO 14000 family of standards are developed by ISO Technical Committee ISO/TC 207 and its various subcommittees. For a full list of published standards in the series see their standards catalogue. ISO 14001 provides requirements with guidance for use that relate to environmental systems. Other standards in the family focus on specific approaches such as audits, communications, labelling and life cycle analysis, as well as environmental challenges such as climate change.
ISO 27000 family of standards concerns information technology, with the goal of improving security and protecting company assets. Started in 2005, the two most popular standards are ISO 27001:2013 and 27002:
2013. 27001 is management-based system, whereas 27002 is a technical document, focused on the individual and putting a code of conduct in place. Organizations can choose either standard; ISO 27001 has over 22,000 certifications worldwide. It is a broad standard, and for this reason the certification can be customized to fit the needs of the organization, and is not mandatory.
ISO 22000 sets out the requirements for a food safety management system and can be certified to it. It maps out what an organization needs to do to demonstrate its ability to control food safety hazards in order to ensure that food is safe. It can be used by any organization regardless of its size or position in the food chain.
ISO 9001 is a family of quality management standards, there are fourteen in total. Of these, ISO 9001:2015 is the only one that can be certified to. It was first published in 1987, and has since been updated about every 7 years. The standard details how to put a Quality Management System (QMS) in place to better prepare your organization to produce quality products and services. It is customer focused, and places an emphasis on continuous improvement and top management processes that extended throughout the organization.
Reference:
- ISO website
- Top 10 Most Popular ISO Standards
- CIPS study guide page 193
LO 3, AC 3.3

NEW QUESTION # 128
......

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