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L4M7 Test Vce | Free L4M7 Braindumps
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CIPS L4M7 Certification Exam covers a range of topics, including asset management principles, asset lifecycle management, risk management, maintenance strategies, and financial management. CIPS Whole Life Asset Management certification is designed to provide professionals with the knowledge and skills needed to effectively manage assets throughout their entire lifecycle, from planning and design to operation and maintenance. By earning the CIPS L4M7 Certification, professionals can demonstrate their proficiency in asset management and enhance their career opportunities.
CIPS L4M7 Exam is an essential certification for professionals seeking to improve their knowledge and skills in the field of asset management. It covers a wide range of topics related to the planning, design, construction, operation, maintenance, and disposal of assets, and is suitable for individuals who work in asset management or who are interested in pursuing a career in this field. CIPS Whole Life Asset Management certification is recognized worldwide and is highly valued by employers in various industries.
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CIPS Whole Life Asset Management Sample Questions (Q35-Q40):
NEW QUESTION # 35
What is meant by the economic life of an asset?
- A. It is the point beyond which it is not possible to find anyone who has the skills to operate the asset
- B. It is the point beyond which it is not possible to obtain any spare parts for the asset
- C. It is the age beyond which it is not worth keeping an asset from a cost point of view
- D. It is when the asset's effective performance is below the standard required by the organisation
Answer: C
NEW QUESTION # 36
Your employers have expanded rapidly over the past five years and have acquired a number of smaller companies in the same industry. Unfortunately, all of the companies purchased have manual inventory systems. Your employer is setting up a computerised inventory control system and wishes to ensure that all stock is classified under the appropriate headings. Under what classification would semi-finished goods be classified?
- A. Direct inventories
- B. Material costs
- C. Indirect inventories
- D. Acquisition costs
Answer: A
NEW QUESTION # 37
An organisation always obtains negative cash flow regarding removal and disposal of assets. Is this statement true?
- A. No, the organisation may recover the value of the assets by reselling it
- B. Yes, the organisation incurs high maintenance cost during the disposal processes
- C. Yes, some assets require enormous decommissioning costs
- D. No, disposal of assets always bring positive cash flow to the organisation
Answer: A
Explanation:
Assets in their end of life need to be removed or disposed. Though an organisation can incur some costs in decommissioning or removal of the assets, it may recover costs by reselling the assets. Therefore, sometimes the organisation can gain positive cash flow from removal and disposal of assets. The answer should be "No, the organisation may recover the value of the assets by reselling it".
LO 3, AC 3.3
NEW QUESTION # 38
The following are examples of scheduled maintenance except...
- A. Repair signage damage from a recent storm
- B. Oil changes and regular servicing
- C. Overhauling of machine
- D. Cleaning of tank
Answer: A
Explanation:
Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given maintenance tasks are performed and by whom. Scheduled maintenance may occur at repeating intervals or in response to a work request.
"Overhauling of machine" means that the machine is regularly checked and corrupted parts are replaced if needed.
"Cleaning of tank" and "Oil changes" also occur at time intervals as scheduled So the correct answer is "Repair signage damage from a recent storm" Reference:
LO 3, AC 3.1
NEW QUESTION # 39
Which of the following is the Japanese word for 'billboard' or 'signboard'?
- A. Muda
- B. Poka-Yoke
- C. Kaizen
- D. Kanban
Answer: D
Explanation:
Kanban (##) (signboard or billboard in Japanese) is a scheduling system for lean manufacturing and just-in- time manufacturing (JIT).
Poka-yoke (####, [poka yoke]) is a Japanese term that means "mistake-proofing" or "inadvertent error prevention". A poka-yoke is any mechanism in any process that helps an equipment operator avoid (yokeru) mistakes (poka). Its purpose is to eliminate product defects by preventing, correcting, or drawing attention to human errors as they occur.
Kaizen is a concept referring to business activities that continuously improve all functions and involve all employees from the CEO to the assembly line workers. Kaizen (##) is the Sino-Japanese word for
"improvement". Kaizen also applies to processes, such as purchasing and logis-tics, that cross organizational boundaries into the supply chain.
Muda (##, on'yomi reading) is a Japanese word meaning "futility; uselessness; wastefulness", and is a key concept in lean process thinking, like the Toyota Production System (TPS) as one of the three types of deviation from optimal allocation of resources (the others being mura and muri). Waste reduction is an effective way to increase profitability.
NEW QUESTION # 40
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