CIPS L4M7 Exam Dumps

Get All Whole Life Asset Management Exam Questions with Validated Answers

L4M7 Pack
Vendor: CIPS
Exam Code: L4M7
Exam Name: Whole Life Asset Management
Exam Questions: 255
Last Updated: January 9, 2026
Related Certifications: Level 4 Diploma in Procurement and Supply
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Free CIPS L4M7 Exam Actual Questions

Question No. 1

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

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Correct Answer: D

Warehouse dock is a feature of warehouse design - used for unloading and loading vehicles. It is crucial to carefully design where they are externally located in a facility and choose the best type of dock depending on the available space.

In many cases efficient and effective loading and unloading is achieved by a dock design that places the loading and unloading vehicle' rear platform at the same height as the warehouse floor.

Slopes in docking areas must always be as small as possible: the gentler the slope, the less chance of errors and accidents. If a warehouse is going to be used by large volume vehicles, such as high cubes, it may be necessary to install special devices, such as hydraulically adjustable docks or ground level lift platforms.

Current trends indicate that vehicles that are longer and wider and have a greater volume will be increasingly common. Therefore, when planning the location of the docks, it would be useful to ensure that there is a large area for the approach, manoeuvring and build-up of large vehicles.

One option to increase the efficiency of the docks is to combine reception and dispatch into a single area (dual use). This solution drastically reduces costs and, above all, increases the use of handling equipment and personnel. However, if this is justified by the volume of material flows, there can also be separate access points for each function (some for reception and others for dispatch - 'sole use').


- Warehouse docking areas - Interlake

- CIPS study guide page 13

LO 1, AC 1.1

Question No. 2

What term describes a method used to account for inventory, where the oldest produced items are recorded as sold first?

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Correct Answer: B

Question No. 3

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.

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Correct Answer: A, B

The costs of stockouts - the costs of being out of inventory - include:

- Loss of production output

- Costs of idle time and of fixed overheads spread over a reduced level of output

- Costs of any action taken to deal with the stockout, such as buying from another stockist at an enhanced price, switching production, obtaining substitute materials

- Loss of customer goodwill due to the inability to supply or late delivery.

(Procurement and Supply Chain management - 9th Edition, K. Lysons and B. Farrington, 2016)

LO 2, AC 2.2


Question No. 4

A hospital is purchasing a new software product that will advise nurses when to give medications to hospitalised patients. This is a mobile application that will be used on tablets carried by the nurses. The software is being developed and tested by a company that specialises in mobile medical applications. This software will interface with existing hospital software that orders the medications from the pharmacy. Which acceptance test activity will be required to check whether the new software integrates well with current IT system?

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Correct Answer: D

In the scenario, one of the requirements for the new software is that the new one will interface with current system. Compatibility testing would be the most appropriate test here.

There are also other acceptance tests that are mentioned in L4M7 study guide:

- Health and safety test aims at establishing new health and safety routines, providing guidance notices and documentation and ensuring designed-in safety in operation.

- Stress testing (sometimes called torture testing) is a form of deliberately intense or thorough testing used to determine the stability of a given system, critical infrastructure or entity. It involves testing beyond normal operational capacity, often to a breaking point, in order to observe the results.

- A dry run (or a practice run) is a testing process where the effects of a possible failure are inten-tionally mitigated. For example, an aerospace company may conduct a 'dry run' test of a jet's new pilot ejection seat while the jet is parked on the ground, rather than while it is in flight.

The usage of 'dry run' in acceptance procedures (for example in the so-called FAT = factory ac-ceptance testing) is meant as following: the factory -- which is a subcontractor -- must perform a complete test of the system it has to deliver before the actual acceptance by customer.


LO 3, AC 3.1

Question No. 5

A local hospital has a highly complex piece of medical equipment delivering proton beam therapy that only one supplier in the world manufactures. Owing to the specialist nature of the equipment, the patient waiting list is extremely long. It is therefore essential that the equipment failure downtime is kept to an absolute minimum, as it would have a negative impact on patient treatment delays. Due to the complex nature and essential need of the equipment to be in continual use, which of the following packages will offer the most protection in ensuring reliability and reduced downtime arising from equipment failures throughout its lifetime?

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Correct Answer: B

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