CIPS L4M7 practice materials Questions Answers

Exam Code:
L4M7
Exam Name:
Whole Life Asset Management Exam
Last Update:
Jun 01,2026

135 Questions Answers Verified by Experts!


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CIPS L4M7 Questions for Level 4 Diploma in Procurement and Supply Certification Exam 2026

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Page: 1 / 27
Total Questions: 135

Questions & Answers PDF

• Question 1

  

  Which of the following code systems is commonly used by governments as a basis for their Cus-toms tariffs and for the collection of international trade statistics?

  • The International Mobile Equipment Identity
  • The Harmonized Commodity Description and Coding System
  • Global Trade Item Number
  • Global Location Number

  Reveal Answer Answer: B Next Question

• Question 2

  

  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

  Reveal Answer Answer: C Next Question

• Question 3

  

  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 increases2. Stock decreases3. Profit increases4. Profit decreases

  • 2 and 4 only
  • 1 and 3 only
  • 2 and 3 only
  • 1 and 4 only

  Reveal Answer Answer: A Next Question

• Question 4

  

  XYZ Ltd is a major distributor of electrical equipment protection products in the United States. XYZ found that there was a lack of communication between the company and its key supplier, leading to the supplier trying to predict distributor needs and distributor attempting to estimate lead times. Essentially, both the supplier and the distributor have different sets of information, spending time and money trying to predict what the other will do. To deal with this problem, XYZ Ltd decides to implement new inventory management method in which the supplier manage the replenishment of items for sale. Both parties are obliged to share information on variations in demand and stock levels for goods used for or sale. Which inventory management method is XYZ Ltd implementing?

  • Reverse logistics
  • Floor-ready merchandise
  • Vendor managed inventory
  • Economic order quantity

  Reveal Answer Answer: C Next Question

• Question 5

  

  To make loading/unloading more effective and efficient, which feature should be included in vehi-cle dock design?

  • Steeper slope will reduce the chance of errors and accidents
  • 'Dual-use' docks are always the most efficient
  • Vehicle docks only require a small area to ensure faster goods flow
  • The dock platform is almost at the same level as the height of the trailer's rear platform

  Reveal Answer Answer: D Next Question

• Question 6

  

  The minimal total cost is always achieved when there is only one warehouse. Is this statement true?

  • No, fewer warehouse may lead to increasing transport costs
  • Yes, because the operation cost for warehouse reaches minimal level
  • Yes, because warehouse overheads are fully utilised
  • No, more warehouses will reduce the cost of storage

  Reveal Answer Answer: A Next Question

• Question 7

  

  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?

  • ISO 22000 family
  • ISO 9000 family
  • ISO 14000 family
  • ISO 27000 family

  Reveal Answer Answer: C Next Question

• Question 8

  

  Which of the following are most likely to be direct benefits of applying RFID technology? Select TWO that apply

  • Multiple items tracking
  • Being able to work in harsh conditions without any supports
  • Identifying product defects
  • Being able to work in 1km range or above
  • Large information capacity

  Reveal Answer Answer: A, E Next Question

• Question 9

  

  What are the contents of master production schedule in MRP system?

  • The investment required for production
  • How many final products will be made and when to make them
  • The total number of labour required to produce the final product
  • What components and materials are and when to purchase them

  Reveal Answer Answer: B Next Question

• Question 10

  

  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

  Reveal Answer Answer: C Next Question

Page: 1 / 27
Total Questions: 135

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