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CIPS L4M7 Exam With Confidence Using Practice Dumps

Exam Code:
L4M7
Exam Name:
Whole Life Asset Management
Vendor:
Questions:
255
Last Updated:
Apr 30, 2025
Exam Status:
Stable
CIPS L4M7

L4M7: CIPS Level 4 Diploma in Procurement and Supply Exam 2025 Study Guide Pdf and Test Engine

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Whole Life Asset Management Questions and Answers

Question 1

Which of the following is the core idea of Lean manufacturing?

Options:

A.

New product development

B.

Waste elimination

C.

Improving response to erratic demand

D.

Business Continuity Planning

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Question 2

An organisation might find it more beneficial to lease and use an asset over a predetermined period. After this period, the lessee has the right to secure an outright ownership of the asset by paying an agreed amount; otherwise, the asset would be repossessed by the lessor. Which of the following is an advantage of leasing?

Options:

A.

Long-term commitment to pay instalments even if not using the asset

B.

Costs are known and agreed in advance

C.

The usage of the asset is usually capped

D.

The total cost of ownership is not applicable as the asset is leased

Question 3

Buffer stock is a level of stock which...

Options:

A.

Is half of the actual stock that needs to be in the warehouse

B.

Is the minimum stock level below which actual stock should not fall

C.

Is the maximum stock in inventory

D.

Is when the physical ordering process should start to replenish used items