Exam Name: CIPS Whole Life Asset Management
Certification Provider: CIPS
Corresponding Certification: Level 4 Diploma in Procurement and Supply
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Instant Download CIPS : L4M7 Questions & Answers
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Check Updated on: Oct 22, 2026
No. of Questions: 297 Questions & Answers with Exam Engine
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Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/whole-life-asset-management
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CIPS Whole Life Asset Management Sample Questions:
What term describes the method used to account for inventory, where the most recently produced items are recorded as sold first?
- A. First in, first out
- B. Last in, first out
- C. Last in, last out
- D. First in, last out
Correct Answer: B 🗳️
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
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.
- A. Cost of equipment downtime
- B. Costs for qualifying suppliers
- C. Costs of handling inventory
- D. Extra costs for urgent transportation
- E. Costs of approving the requisition
Correct Answer: A,D 🗳️
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Hi-Tech Products Inc. (HTP) has just opened a new state-of-the-art distribution centre. It has invested heavily in new technology that will help manage, store, and identify stock items and their locations quickly and continuously. Its investment uses wireless technology. HTP will be using which of the following?
- A. Radio Frequency Identification (RFID)
- B. Handheld scanning devices
- C. ABC classification management
- D. Barcodes
Correct Answer: A 🗳️
Which of the following is the correct statement about total ordering cost?
- A. Fall with the per period usage rate
- B. Rise as the average stock level rises
- C. Rise as the order quantity rises
- D. Equal the number of orders placed times the cost of placing an order
Correct Answer: D 🗳️
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Decommissioning, removal and disposal of assets may have impact on the environment. An organisation should have policies and procedures in place to enhance its environmental performance. Which standard family provides the guidance on environmental policies and procedures?
- A. ISO 9000 family
- B. ISO 22000 family
- C. ISO 14000 family
- D. ISO 27000 family
Correct Answer: C 🗳️
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