2025 LATEST L4M7–100% FREE HOTTEST CERTIFICATION | LATEST CIPS WHOLE LIFE ASSET MANAGEMENT EXAM DISCOUNT

2025 Latest L4M7–100% Free Hottest Certification | Latest CIPS Whole Life Asset Management Exam Discount

2025 Latest L4M7–100% Free Hottest Certification | Latest CIPS Whole Life Asset Management Exam Discount

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Tags: L4M7 Hottest Certification, Latest L4M7 Exam Discount, L4M7 Downloadable PDF, New L4M7 Test Pdf, L4M7 Valid Test Discount

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CIPS Whole Life Asset Management Sample Questions (Q215-Q220):

NEW QUESTION # 215
Which of the following is a main objective of just-in-time?

  • A. Better demand forecasting
  • B. Leveraging economic order quantity
  • C. Waste reduction
  • D. Higher safety stock

Answer: C

Explanation:
JIT, often referred to as the Toyota production system (TPS), originated in Toyota's manufacturing plants in Japan in the early 1970s. It was first introduced by the organisation's owner, Taiichi Ohno. The prime goal of JIT is the achievement of zero inventories.
The just-in-time objectives of eliminating waste can be summarised in the 'five zeros: zero defects, zero set-up times, zero inventories, zero handling and zero lead times.


NEW QUESTION # 216
Which of the following are common faults of coding?
* Making code words too long
* Not leaving room for expansion
* Data is slow to obtain from barcodes
* High training costs to use barcodes

  • A. 1 and 2 only
  • B. 3 and 4 only
  • C. 1 and 3 only
  • D. 2 and 3 only

Answer: A

Explanation:
Common coding faults include:
* Long code words: Codes that are too lengthy are challenging to use and may lead to errors.
* Lack of room for expansion: If codes cannot accommodate new items, future adjustments become difficult.
Efficient coding is essential for inventory tracking and asset management, enabling clear, scalable, and user- friendly identification systems.


NEW QUESTION # 217
XYZ Ltd is looking for new office space overseas. To keep the overhead expense minimal, it chooses leasing rather than purchasing new office. In leasing contract, which of the following costs are most likely to be attributable to the lessee?
1. Disposal costs
2. Rentals
3. Operating costs
4. Vendor selection costs

  • A. 1, 2 and 4
  • B. 1, 3 and 4
  • C. 2, 3 and 4
  • D. 1, 2 and 3

Answer: C

Explanation:
A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.
Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased. Since the lessee does not own the asset, it is not responsible for disposing the assets, and therefore, disposal costs are not attributable to the lessee. The lessee usually incurs rentals and operating costs. Finally, a company should treat the lease the same as other contracts, which they must qualify the supplier.


NEW QUESTION # 218
A company has obsolete inventories and it must write off these inventories. How does writing off inventories impact on the company's financial statements?
1. Stock increases
2. Stock decreases
3. Profit increases
4. Profit decreases

  • A. 2 and 4 only
  • B. 1 and 4 only
  • C. 1 and 3 only
  • D. 2 and 3 only

Answer: A

Explanation:
An inventory write-off is a process of removing from the general ledger any inventory that has no value.
Using the direct write-off method, a business will record a credit to the inventory asset account and a debit to the expense account. For example, say a company with $100,000 worth of inventory decides towrite off
$10,000 in inventory at the end of the year. First, the firm will credit the inventory account with the value of the write-off to reduce the balance. The value of the gross inventory will be reduced as such: $100,000 -
$10,000 = $90,000. Next, the inventory write-off expense account will be increased with a debit to reflect the loss.
The expense account is reflected in the income statement, reducing the firm's net income and thus its retained earnings. A decrease in retained earnings translates into a corresponding decrease in the shareholders' equity section of the balance sheet.
If the inventory write-off is immaterial, a business will often charge the inventory write-off to the cost of goods sold (COGS) account. The problem with charging the amount to the COGS account is that it distorts the gross margin of the business, as there is no corresponding revenue entered for the sale of the product.
Most inventory write-offs are small, annual expenses. A large inventory write-off (such as one caused by a warehouse fire) may be categorized as a non-recurring loss.


NEW QUESTION # 219
Which of the following best describes category 'A' in ABC analysis in inventory management?

  • A. Items with high uncertainty
  • B. Items with high values
  • C. Items that represent approximately 15% of total value
  • D. Items with low uncertainty

Answer: B

Explanation:
ABC classifications are applied to stock and its management is based loosely on the Pareto princi-ple, better known as the 80/20 rule.
The likely outcome of analysis of inventory (value importance):
- Category A - about 20% of the stock items account for about 80% of the total inventory value. Items in category A have the highest value.
- Category B - about 30% of items account for about 15% of total inventory value
- Category C - the remaining 50% of items account for 5% of the total inventory value


NEW QUESTION # 220
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