Summer Special 60% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: bestdeal

Free CIPS L4M7 Practice Exam with Questions & Answers | Set: 6

Questions 51

A major investment bank is planning to purchase a complex banking system that will interface with multiple applications at varying times of the day. Before deploying the system, there are various levels of testing that must be performed through joint testing between the in-house team and off-shore testing consultants. The testing will be performed in a resource-constrained shared environment and managed by the on-shore development team. The costs for testing are generally classified as...?

Options:
A.

Insurance

B.

Maintenance costs

C.

Acquisition costs

D.

Purchase prices

CIPS L4M7 Premium Access
Questions 52

Under a Hire Purchase Agreement, ownership is transferred to the hirer...

Options:
A.

At the beginning of the contract

B.

When all instalments have been paid

C.

When half the instalments have been paid

D.

If the items are damaged by the hirer

Questions 53

Which of the following is another name for scheduled (routine) maintenance?

Options:
A.

Preventative maintenance

B.

Predictive maintenance

C.

Run to breakdown

D.

Corrective maintenance

Questions 54

Which of the following is the Japanese word for ‘billboard’ or ‘signboard’?

Options:
A.

Muda

B.

Kaizen

C.

Poka-Yoke

D.

Kanban

Questions 55

Which of the following costs does the EOQ minimise?

Options:
A.

Total cost of safety stock

B.

Total cost of ordering inventory

C.

Total cost of annual inventory cost

D.

Total cost of carrying stock

Questions 56

PPC Refinery (UK) must close down an out-of-date refinery which has very poor environmental performance. The refinery is very sophisticated with many technically complicated machineries, lubricants, coolants and other chemical substances. Decommissioning the refinery is highly risky and hazardous. To manage the decommissioning process well, PPC project team must know these machineries and substances in details. Which document can provide the technical details on the refinery?

Options:
A.

Original specifications

B.

Non-disclosure agreement

C.

Code of Conduct

D.

Corporate social responsibility policy

Questions 57

The amount of inventory available at the start of an accounting period is known as...?

Options:
A.

Buffer stock

B.

Work-in-progress

C.

Opening stock

D.

Closing stock

Questions 58

A manufacturer has discovered that some of the stock in its storeroom is obsolete and now wishes to take the appropriate action. Should the manufacturer write the stock off?

Options:
A.

No, the best approach would be to leave the stock where it is

B.

Yes, as it has no value it must be written off

C.

Yes, this will increase the sales for the period

D.

No, it should be included with the closing stock

Exam Code: L4M7
Certification Provider: CIPS
Exam Name: Whole Life Asset Management
Last Update: Jul 15, 2025
Questions: 255

CIPS Free Exams

CIPS Free Exams
Access free CIPS exam study guides and practice tests at Examstrack. Ensure your success with top-notch preparation resources at Examstrack.