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Getting the CIPS Whole Life Asset Management (L4M7) certification is the way to go if you're planning to get into CIPS or want to start earning money quickly. Success in the CIPS Whole Life Asset Management (L4M7) exam of this credential plays an essential role in the validation of your skills so that you can crack an interview or get a promotion in an CIPS company. Many people are attempting the CIPS L4M7 test nowadays because its importance is growing rapidly.

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CIPS Whole Life Asset Management Sample Questions (Q269-Q274):

NEW QUESTION # 269
Which type of codes can a barcode laser scanner (linear scanner) read?

Answer: B

Explanation:
One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spac-ings of parallel lines. These include some of the most traditional and well-recognized barcode types, such as the UPC and EAN codes. 1D barcodes are also commonly referred to as linear barcodes.
Two-dimensional (2D) barcodes look like squares or rectangles that contain many small, individual dots. QR codes, Data matrix and Aztec codes are examples of 2D barcodes Numerical code contains all numbers, no letters There are two different scan engine types (laser scanner versus imager) for interpreting the infor-mation provided in the barcode. Many companies producing the technology capable of reading the barcode data uses the term "scanning" regardless of the type of scan engine used. For the purposes of these FAQs, we are trying to draw a clearer distinction for you.
Linear (1D) codes can be scanned with a traditional laser scanner. A laser scan engine uses a laser and mirror to create the bar that scans the information. 1D barcode scanners will only interpret the linear barcode scanning technology. 1D barcode scanners are typically less expensive since the type of encryptions they can decode is limited.
Diagram Description automatically generated

LO 1, AC 1.2


NEW QUESTION # 270
Among different types of costs associated with inventory, the costs of obtaining purchase approvals are...?

Answer: B

Explanation:
Direct and indirect costs of holding inventory include the following:
- Acquisition costs: preparing the requisition, supplier selection and approvals, time and costs of the procurement process, etc.
- Holding costs
- Costs of stockouts
LO 2, AC 2.2


NEW QUESTION # 271
RFID, or Radio Frequency Identification, is fast emerging as a major commercial technology. Like every new technology, it has advantages and disadvantages. An advantage of using RFID is that ...

Answer: C

Explanation:
RFID technology offers higher security compared to barcodes, as tags are harder to replicate. RFID also enables wireless scanning, without line-of-sight, and can store more information than barcodes. This enhances asset tracking and security, essential in whole-life asset management for tracking valuable assets and reducing losses due to theft or misplacement.


NEW QUESTION # 272
Which of the following are holding costs? Select THREE that apply.
* Shipping costs
* Marketing fees
* Damaged goods
* Storage space
* Insurance costs
* Legal fees

Answer: A

Explanation:
Holding costs include expenses associated with storing inventory. These typically comprise:
* Damaged goods: Losses due to items being stored improperly or deteriorating over time.
* Storage space: Costs of renting or maintaining warehouse space.
* Insurance: Fees for insuring stored items against potential risks.
These costs are integral to whole-life asset management, as they impact overall inventory and storage expenses.


NEW QUESTION # 273
The Four Counties hospital in Norway is experiencing financial pressures. The procurement team is looking for the best approach to procure patient equipment that is critical and is often required at very short notice.
Which of the following techniques would allow the hospital to access the stock at short notice, but without paying for it until it is used?

Answer: C


NEW QUESTION # 274
......

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