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CIPS L4M7 (CIPS Whole Life Asset Management) Certification Exam is a globally recognized certification program designed for professionals who are interested in building a career in asset management. This program is specifically focused on whole life asset management, which is a critical aspect of any organization's overall asset management strategy.

CIPS L4M7 certification exam is designed to equip professionals with the skills and knowledge required to manage assets throughout their entire life cycle. This includes the acquisition, maintenance, operation, disposal, and replacement of assets. L4M7 Exam covers a wide range of topics, including risk management, financial analysis, maintenance strategies, and sustainability. Professionals who pass the exam are recognized as experts in the field of asset management and are highly valued by employers across various industries.

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CIPS Whole Life Asset Management Sample Questions (Q86-Q91):

NEW QUESTION # 86
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. 2 and 3 only
C. 1 and 4 only
D. 1 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 # 87
When designing the layout of a warehouse or stores area, one of the factors to consider is the width of the aisles between the racking. Which of the following is a main consideration when calculating the aisle width?

A. Overall height of the driver's cage of the forklift truck
B. Dimensional depth and height of pallet racks
C. Turning circle of the forklift truck and the size of the pallet being carried
D. Dimensional length and depth of the items on a pallet

Answer: C

NEW QUESTION # 88
Which of the following is the character that allows the computer to verify whether a product code is entered correctly?

A. Check digit
B. Barcode
C. 3-digit prefix
D. Radio frequency identification

Answer: A

Explanation:
Many codes have integrated check digits. These are additional numbers or characters added to codes that a computer uses to verify the number is valid. The intention is to reduce the likelihood of miskeying an item and hitting an alternative live item. More often, a system is devised which a computer can calculate using combination of numbers.
Barcode is a graphic symbol used to convey data. Typically the characters in a barcode symbol consist of bars/space pattern. Barcode is the method of representing data in a visual, machine-readable form. Initially barcodes represented data by varying the width and spacing of parallel lines.
Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects.
A prefix is an affix which is placed before the stem of a word or a string. A product code may have prefix which indicates its group, country, origins, etc.
Reference:
LO 1, AC 1.2

NEW QUESTION # 89
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:

A. Carousel
B. Stacker crane
C. Scissor platform
D. Grab
E. Order picker

Answer: C,E

Explanation:
It is important to ensure safe working in storage facilities, and access to higher shelves or racking presents a challenge. Lifting at full reach becomes a problem at relative low weight. There can also be danger for other workers who are around someone working at height, from the movement of equipment or dropping stock from a height.
Scissor platforms are used in high-roof warehouses to gain access to lighting, high-racking units and sections of wall and roof.

ORDER PICKER is manual or powered device - some with ride-on capability and some without. This allow for low-level, medium-level and high-level picking of various items. Many are equipped with forks to allow transfer capability of larger picked boxes. Higher-level and narrow or very narrow -aisle versions have the ability to elevate operators on the front platform to higher racking to pick items.

Grabs are designed to hold stock either width-wise or from above. These are either specific devices designed for grabbing materials or are available as an accessory to forklift trucks.

Carousels are space-efficient, rotating devices which allow access to a large range of product from a single location. Designs are variable, with carousels rotating horizontally or vertically until the required items can be retrieved.

Stacker-cranes are designed for the automated storage and retrieval of unit loads, in high-bay warehouses.
They travel in aisles equipped with guide rails, electrical supply, data transmission and control systems. To ensure the storage and retrieval functions, the stacker-crane carries out three types of movement : long-travel, lifting and picking.

NEW QUESTION # 90
Which one of the following statements is true about radio frequency identification (RFID)?

A. RFID tags require laser scanning.
B. A passive RFID tag does not use an antenna
C. An active RFID tag does not require a power source
D. Normally passive RFID tags store ID numbers

Answer: D

Explanation:
Radio frequency identification (RFID) are items which use radio technology to identify itself and its location subject to having appropriate hardware and software.
RFID tags are made of three different components: an RFID chip, which is an integrated circuit (IC), an antenna, and a substrate.
A RFID Reader is a device that uses radio-frequency waves to wirelessly transfer data between itself and a RFID tag/label in order to identify, categorize and track assets. When combined with the right RFID software, a RFID reader can identify objects quicker, more accurately, at a reduced overall cost, and at various points of the object's lifecycle.
Passive RFID systems use tags with no internal power source and instead are powered by the electromagnetic energy transmitted from an RFID reader. Passive RFID tags are used for applica-tions such as access control, file tracking, race timing, supply chain management, smart labels, and more.
Active RFID systems have three essential parts - a reader or interrogator, antenna, and a tag. Ac-tive RFID tags possess their own power source - an internal battery that enables them to have ex-tremely long read ranges as well as large memory banks.
Reference:
LO 1, AC 1.2

NEW QUESTION # 91
......

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L4M7 Reliable Exam Vce | Exam L4M7 Collection

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CIPS Whole Life Asset Management Sample Questions (Q86-Q91):

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