CIPS L4M7 Whole-life Assets Management Online Training
CIPS L4M7 Online Training
The questions for L4M7 were last updated at Jun 19,2025.
- Exam Code: L4M7
- Exam Name: Whole-life Assets Management
- Certification Provider: CIPS
- Latest update: Jun 19,2025
Which of the following are main objectives of warehouse operations? Select TWO that apply.
- A . To ensure stock available when customers demand
- B . To create sufficient space for redundant stock
- C . To minimise stock loss and deterioration
- D . To generate check digits for a product code
- E . To maintain the highest level of buffer stock
Which of the following are main objectives of warehouse operations? Select TWO that apply.
- A . To ensure stock available when customers demand
- B . To create sufficient space for redundant stock
- C . To minimise stock loss and deterioration
- D . To generate check digits for a product code
- E . To maintain the highest level of buffer stock
Which of the following are main objectives of warehouse operations? Select TWO that apply.
- A . To ensure stock available when customers demand
- B . To create sufficient space for redundant stock
- C . To minimise stock loss and deterioration
- D . To generate check digits for a product code
- E . To maintain the highest level of buffer stock
Which of the following is the core idea of Lean manufacturing?
- A . New product development
- B . Waste elimination
- C . Improving response to erratic demand
- D . Business Continuity Planning
Which of the following is often created by each business and commonly used for the purpose of inventory management?
- A . SKU
- B . ISBN
- C . Harmonised system
- D . FDA product code
Which of the following is the definition of work in progress inventory?
- A . Inventory that has finished the production process
- B . Inventory introduced into production but not completed as of the stocktake date
- C . Inventory not yet introduced into the production process
- D . Obsolete inventory
MRP software is a powerful tool for managing material requirements of manufacturing processes. To keep the software function well, an organisation must have appropriate input data.
Which of the following are the inputs of MRP software? Select THREE that apply.
- A . Master production schedule
- B . Bill of materials
- C . Capacity requirement plan
- D . Payrolls information
- E . Facilities management
- F . Inventory records
A manager who is concerned about the environmental impact of packaging should do which of the following?
- A . Adopt international environmental packaging standards
- B . Try to reduce the costs of packaging
- C . Purchase the packaging materials in bulk
- D . Not use the packaging materials at all
"Open stock plus purchases minus closing stock" is the formula of which of the following?
- A . Inventory
- B . Revenue
- C . Cost of goods sold
- D . Liability
When deciding on the storage facilities and locations, an organisation needs to assess the current situation comprehensively and forecast the future demands. Quantitative analysis is the best method for these activities.
Is this statement true?
- A . Yes, quantitative analysis provides a reality based on numerical values
- B . No, some intangible information is difficult to collect and measure
- C . Yes, quantitative analysis is easy to implement as it is based on ‘hard’ facts
- D . No, subjective judgements are the best as they compensate for weaknesses of quantitative analysis
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