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CIPS L4M7 Exam Overview:
| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Whole Life Asset Management |
| Exam Number: | L4M7 |
| Available Languages: | English |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Duration: | 120 minutes |
| Exam Format: | Computer-based objective test, Multiple-choice questions |
| Certificate Validity Period: | No expiry (qualification does not expire once awarded) |
| Recommended Training: | Approved CIPS Study Centres CIPS Official Learning Resources |
| Exam Registration: | CIPS Official Website - Qualifications CIPS Exam Registration Information |
| Sample Questions: | CIPS L4M7 Sample Questions |
| Exam Way: | Computer-based exam delivered at approved test centres or online proctored (depending on region and provider availability) |
| Pre Condition: | Part of the CIPS Level 4 Diploma in Procurement and Supply; candidates are typically required to be enrolled in the qualification pathway. |
| Official Syllabus URL: | https://www.cips.org |
CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a valuable certification for professionals looking to enhance their knowledge and expertise in the field of asset management. CIPS Whole Life Asset Management certification focuses on the entire lifecycle of assets, from acquisition to disposal, and provides a comprehensive understanding of how to optimize asset performance and value. The CIPS L4M7 Certification is recognized globally as a mark of excellence in asset management and is ideal for professionals working in industries such as manufacturing, transportation, energy, and facilities management.
Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/whole-life-asset-management
CIPS L4M7 certification exam is an excellent opportunity for professionals looking to advance their careers in procurement and supply chain management, and enhance their knowledge and skills in the growing field of asset management. With companies increasingly investing in assets as part of their strategic agendas, this certification is becoming increasingly relevant and important to organizations seeking to manage their assets effectively and efficiently.
CIPS L4M7 exam is designed to assess the knowledge and skills of professionals in the field of asset management. L4M7 exam focuses on the concept of whole life asset management, which involves the management of assets throughout their entire life cycle, from acquisition to disposal. L4M7 exam covers a wide range of topics, including asset identification, condition assessment, maintenance strategies, risk management, and disposal strategies.
CIPS L4M7 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Asset Acquisition and Procurement | - Sourcing and procurement of assets
|
| Topic 2: Operation and Maintenance | - Asset performance and reliability
|
| Topic 3: Understanding Asset Management | - Principles of whole life asset management
|
| Topic 4: Risk and Value Management | - Managing asset-related risk
|
| Topic 5: Disposal and End-of-Life Management | - Asset disposal strategies
|
CIPS Whole Life Asset Management Sample Questions:
An organisation needs to determine whether to lease a piece of equipment or purchase it outright. From the following statements, which ones describe the advantages for a procurement organisation to lease rather than to purchase outright?
* Capital allowances may be set against tax, and grants may be available
* There is no initial investment which would tie up the organisation's working capital
* It would protect against technological obsolescence as equipment can be replaced as required
* The total cost may be higher than purchasing the equipment outright
- A. 2 and 4 only
- B. 2 and 3 only
- C. 1 and 2 only
- D. 3 and 4 only
Correct Answer: B 🗳️
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In inventory management, the cost of insurance and taxes are included in which group?
- A. Costs of shortage
- B. Inventory carrying cost
- C. Set up costs
- D. Acquisition costs
Correct Answer: B 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
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. #(2D*S/H)
- B. #(D*S/3H)
- C. #(D*S*H)
- D. #(D*S/2H)
Correct Answer: A 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
Which of the following are critical factors that must be considered when evaluating warehouse or storage locations?
* The cost of the proposed location
* Who owns the storage location or warehouse
* Access to transport networks
* The number of windows in the building
- A. 2 and 4 only
- B. 1 and 3 only
- C. 1 and 4 only
- D. 2 and 3 only
Correct Answer: B 🗳️
Zemora Clothing Inc. receives high-priced garments with devices hidden inside the lining. This is done to avoid possible fraudulent removal of the garments from the shop. These tags are activated when the items arrive at the stores. When a garment Is moved by a customer from a display area, security employees receive an initial alert. An alarm rings if the customer passes through the doors of the shop without paying for the items. Which of the following order tracking technology is used by this company?
- A. Radio frequency identification
- B. Electronic data interchange
- C. Electronic resource planning
- D. Bar coding system
Correct Answer: A 🗳️
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