Check Real CIPS L4M7 Exam Question for Free (2023) [Q51-Q69]

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Check Real CIPS L4M7 Exam Question for Free (2023)

Get Ready to Boost your Prepare for your L4M7 Exam with 135 Questions

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The CIPS L4M7 Certification Exam is an essential tool for professionals who want to demonstrate their expertise in asset management. The certification program provides an in-depth understanding of asset management principles, best practices, and strategies, and it equips candidates with the knowledge and skills needed to make informed decisions about asset management.

NO.51 A manufacturer is making a plan for strategic safety stock. To do so, they must analyse the proba-bility of a stock out occurring and the cost impacts if it does. Which of the following are typical costs the manufacturer may incur in ‘out of stock’ event? Select TWO that apply.

Extra costs for urgent transportation

Cost of equipment downtime

Costs for qualifying suppliers

Costs of handling inventory

NO.52 Which of the following are warehouse layouts that allow the cross aisle to meet picking aisle at angles different from 90 degrees?
1. ‘Fan’ shaped layout
2. Herringbone-shaped layout
3. U-shape layout
4. L-shape layout

1 and 2 only

3 and 4 only

1 and 3 only

2 and 3 only

NO.53 In just in time production system, when is an upstream production triggered?

When the inventory level reaches the reorder point

After the management team forecasts the future demands

When downstream operations summon the upstream production

When the production workers are idle

NO.54 Which of the following purchases are most likely to have low acquisition costs? Select TWO that apply.

Purchase of ERP system

Purchase of standard catalogued products

Straight re-buy from a current supplier

Spot purchase of a technically complexed machinery

Procurement of construction projects

NO.55 Company XYZ is a candy manufacturer. Company XYZ makes a batch of 1,000 Christmas candy canes that are no longer edible after December 31. Company XYZ is able to sell 750 canes of the batch, but the other 250 are sitting in the warehouse. December 31 comes, and these candy canes is no longer sell-able. The batch of 250 candy canes belongs to which type of inventory?

Obsolete inventory

Buffer stock

Redundant inventory

Stockout

NO.56 Which of the following best describes category ‘A’ in ABC analysis in inventory management?

Items that represent approximately 15% of total value

Items with low uncertainty

Items with high values

Items with high uncertainty

NO.57 Which costs in the following list are categorised as operation costs in the total cost of ownership model? Select TWO that apply.

Decommissioning costs

Costs of any person who operates the equipment

Installation and configuration costs

Delivery costs

Costs of consumables

NO.58 Which of the following can replace pallets as bases for unit loads but they require push pull acces-sories to retrieve or discharge unit load?

Shrink wraps

Post pallets

Skids

Slip sheets

NO.59 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?

Increasing safety stock

Expanding replenishment lead time

Decreasing safety stock

Holding more cycle stock

NO.60 Can RFID tags work when they are attached to metal surfaces or embedded within metal products?

Yes, some technologies allow RFID tags to work on metal or within metal products

No, metal surface reflects the radio wave and thus interferes the operations of RFID tags

No, RFID tags only work with plastic products

Yes, all RFID tags can be used in every environmental conditions

NO.61 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

2 and 4 only

1 and 4 only

2 and 3 only

1 and 3 only

NO.62 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 dat a. Which of the following are the inputs of MRP software? Select THREE that apply.

Master production schedule

Bill of materials

Capacity requirement plan

Payrolls information

Facilities management

Inventory records

NO.63 Which of the following are typical characteristics of 2D barcodes? Select TWO that apply.

Every 2D barcodes must conform international standards

The 2D barcodes are machine-readable

2D barcodes are exclusively used for marketing purpose

2D barcodes can be read by linear scanners

2D barcodes can contain more data than 1D barcodes

NO.64 Which of the following best describes the term ‘periodic review’?

Items are reviewed and orders placed depending on requirements

Items are reviewed when the Kanban is triggered

Items are reviewed when the price is at its lowest

Items are reviewed as part of an imprest system

NO.65 Which of the following statements is true of just-in-time (JIT) purchasing?

In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales

Only disadvantage of JIT purchasing is the higher level carrying and inspection costs

JIT purchasing is guided solely by the EOQ model because that model emphasizes the tradeoff between relevant carrying and ordering costs

In JIT purchasing, the optimal safety-stock level is the quantity of safety stock that minimizes the sum of annual relevant stockout and carrying costs

NO.66 MRP system is the most suitable IT system to manage which type of items?

Dependent demand

Construction projects

Independent demand

Fast moving components

NO.67 Which of the following is the minimum aisle width for using standard counterbalanced forklifts?

4.9 ft – 5.2 ft

5.6 ft – 5.9 ft

6.9 ft – 7.2 ft

10.5 ft – 13.1 ft

NO.68 What is the different between gross material requirements plan (gross MRP) and a net material requirements plan (net MRP)?

The gross requirement doesn’t take taxes into account, whereas the net requirement includes the tax considerations