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CIPS L4M7 Exam is ideal for professionals who work in asset management, including project managers, engineers, surveyors, and facilities managers. It is also suitable for individuals who are interested in pursuing a career in asset management or who want to expand their knowledge of 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 L4M7 certification exam is intended for individuals who are involved in managing assets, such as buildings, infrastructure, equipment, and other types of assets. It is also suitable for professionals who work in procurement, supply chain management, and related fields. L4M7 exam covers a wide range of topics related to asset management, including asset planning, acquisition, operation, maintenance, and disposal.
To be eligible for the exam, candidates must have completed the CIPS Level 4 Diploma in Procurement and Supply. CIPS Whole Life Asset Management certification builds upon the knowledge gained in the Diploma program and provides in-depth knowledge of the asset management process. L4M7 Exam is divided into two parts, including a written exam and a case study analysis. The written exam consists of multiple-choice questions that evaluate the candidate's theoretical knowledge of asset management. The case study analysis allows candidates to apply their knowledge to practical scenarios, which are commonly faced in the asset management field.
NEW QUESTION # 138
In the Appendix A of a long-term supply contract of Bulk Drug Substance, both parties agree that "The reference price for Bulk Product at the specification, per gram, shall be US$10. The unit price for Bulk Product for a specific Purchase Order shall be computed by multiplying the above- specified reference price by two corrective factors, namely inflation correction factor and exchange rate correction factor". This pricing appendix is an example of...?
Answer: A
Explanation:
Price setting mechanisms fall into two main categories: fixed and variable. A fixed price mecha-nism is a straightforward concept which typically results in a relatively stable budget that can be forecast. Variable mechanisms have an element of variable pricing per unit bought.
Setting a fixed price mechanism is in theory a relatively simple and straightforward concept, where the collector and the buyer agree on a fixed price for a specific material or mix of materials, for a certain length of time.
All other pricing mechanisms that are not fixed have an element of variable pricing per unit bought.
The most common variable pricing mechanisms can be divided into two groups:
1. Where the benefit accruing to the buyer from acquiring the material is used to calculate what the payment to the seller should be; or Approaches to Materials Sales: A guide for local authorities
2. Where the price paid is indexed to a published source of market price information. The above scenario demonstrates variable pricing mechanism using published sources on inflation rate and exchange rate. CIPS also refers this mechanism as adjustable prices.
Reference:
- CIPS study guide page 138-139
- 10.0 Price setting mechanisms
LO 3, AC 3.1
NEW QUESTION # 139
What is the different between gross material requirements plan (gross MRP) and a net material requirements plan (net MRP)?
Answer: D
Explanation:
Material requirement planning (MRP) is a production planning and material (inventory) control system used in manufacturing. Objectives of MRP are to ensure materials are available for production while minimising inventory and to plan production and procurement activities.
MRP software combines the master production schedule, the bill of materials and the inventory information to work out the net requirements (net MRP) of what to purchase or produce and when.
These net requirements are worked out using the following equation:
Net requirements = Total requirements - Available inventory
Where:
Total requirement = Gross requirements (gross MRP)
Available inventory = Inventory on hand + Units on order
In the other words, Gross MRP = Net MRP + Available inventory, so the answer should be "The gross MRP includes consideration of available inventory, whereas the net MRP does not" LO 2, AC 2.3
NEW QUESTION # 140
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?
Answer: C
Explanation:
Direct and indirect costs of holding inventory include the following:
- Acquisition costs
- Holding costs: There are 2 different types of holding costs: costs related to the value of the goods (including opportunity costs, costs of insurance, losses due to product deterioration, etc) and costs related to the physical characteristics of this inventory.
- Costs of stockouts
Reference:
LO 2, AC 2.2
NEW QUESTION # 141
Which of the following is the most suitable container of fasteners (screws, nails, nuts and bolts,...)?
Answer: A
Explanation:
Tote box is the reusable storage box. These can be open or have lids or flaps to close them and come in a large variety of sizes and weight loadings.
A tote is ideal for holding and hauling items such as: tools, fasteners, bark dust, dry cement, cords, wires, smaller boxes,...
Pallets are the platform structures designed to support a load and be lifted using the forks (typically seen on forklift trucks and other equipment). These are in a variety of standard sizes and can be made of many materials including plastics, resin, board or timber. Pallets are not containers, but support platforms.
Bar racks are designed to store bars and pipes
Stock cages are available in many sizes and can hold single items or groups of items
NEW QUESTION # 142
What is the stock turn for a store holding products to the value of £250,000 with annual sales of these products amounting to £1,000,000?
Answer: A
Explanation:
Calculating Inventory Turnover (Stock Turn)
As with a typical turnover ratio, inventory turnover details how much inventory is sold over a period. To calculate the inventory turnover ratio, cost of goods (COGS) is divided by the average inventory for the same period.1 Cost of Goods Sold ÷ Average Inventory or Sales ÷ Inventory In this exercise, the stock turn equal to sales divided by inventory, or 1,000,000:250,000 = 4.
Reference:
LO 2, AC 2.3
NEW QUESTION # 143
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