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L4M7 Exam Dumps - Whole Life Asset Management

Question # 4

An electricity company charges its customers monthly fee for access and a usage fee for consump-tion of electricity. Which pricing structure is the company using?

A.

Fixed pricing

B.

Multi-part pricing

C.

Dynamic pricing

D.

Freemium Pricing

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Question # 5

A manager who is concerned about the environmental impact of packaging should do which of the following?

A.

Adopt international environmental packaging standards

B.

Try to reduce the costs of packaging

C.

Purchase the packaging materials in bulk

D.

Not use the packaging materials at all

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Question # 6

Which of the following are most likely to be the purposes of packing and packaging?

1. To bring the product cost down

2. To protect the product

3. To improve the product recognition

4. To test the product durability

A.

1 and 2 only

B.

3 and 4 only

C.

2 and 3 only

D.

1 and 4 only

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Question # 7

XYZ Ltd organises a meeting in order to decide on the safety stock level of a strategic material which is used in XYZ latest product - DMD. To do this, they must forecast the future demand for this new product. In the meeting, external consultants are invited to join with cross-functional team. Each person of the group anonymously replies to questionnaires and subsequently receives feedback in the form of a statistical representation of the "group response," after which the process repeats itself. The goal is to reduce the range of responses and arrive at something closer to expert consensus. XYZ Ltd is using which forecasting method?

A.

Objective forecasting technique

B.

Delphi method

C.

Holt-Winters seasonal method

D.

Time series analysis

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Question # 8

What is meant by the term ‘obsolete stock’?

A.

Stock which has become outdated

B.

Low value/low risk stock

C.

Damaged stock

D.

Stock which has been stolen

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Question # 9

Resevoir Inc runs several oil refineries across the country. These refineries require heavy invest-ment, particularly in maintenance, repair and operating (MRO) inventory. But the inventory turno-ver rate of these MRO items are low, while some items have expired date, which increases the risks of obsolescence. Which of the following methods can address the issues of these MRO items?

A.

Forrester effect

B.

Just in case

C.

Larger safety stock

D.

Vendor-owned stock

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Question # 10

"Open stock plus purchases minus closing stock" is the formula of which of the following?

A.

Inventory

B.

Revenue

C.

Cost of goods sold

D.

Liability

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Question # 11

Which of the following allow an organisation to have more flexible space for storage by leveraging the facilities of other parties? Select TWO that apply.

A.

Eliminating dead stock or inventory

B.

Temporary warehousing

C.

Installing double-deep pallet racking

D.

Consignment stocking

E.

Adopting carousel-type storage

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Question # 12

An organisation always obtains negative cash flow regarding removal and disposal of assets. Is this statement true?

A.

No, the organisation may recover the value of the assets by reselling it

B.

Yes, the organisation incurs high maintenance cost during the disposal processes

C.

Yes, some assets require enormous decommissioning costs

D.

No, disposal of assets always bring positive cash flow to the organisation

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Question # 13

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?

A.

ISO 22000 family

B.

ISO 9000 family

C.

ISO 14000 family

D.

ISO 27000 family

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Question # 14

XYZ Inc opens a tender to purchase new forklift trucks for their new established warehouse. In the final round, there are two suppliers remain who offer two different bids. Supplier A's bid has high initial investment. After calculating the net present value, the NPV in year five is positive. On the other hand, supplier B's bid has low purchase price, with the NPV in year five is negative. If the NPV is the sole selection criterion, XYZ Inc should select the bid which has...?

A.

Positive NPV

B.

The lowest NPV

C.

Zero NPV

D.

Negative NPV

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Question # 15

A retailer wants to improve its service level in inventory management from 95% to 97%. Which of the following is the best course of action?

A.

Increasing safety stock

B.

Expanding replenishment lead time

C.

Decreasing safety stock

D.

Holding more cycle stock

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Question # 16

Extra units that are held in inventory to reduce the risks of stock-out are called...?

A.

Just-in-time

B.

Reorder point

C.

Safety stock

D.

Demand variance

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Question # 17

Which of the following statements is true of just-in-time (JIT) purchasing?

A.

In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales

B.

Only disadvantage of JIT purchasing is the higher level carrying and inspection costs

C.

JIT purchasing is guided solely by the EOQ model because that model emphasizes the tradeoff between relevant carrying and ordering costs

D.

In JIT purchasing, the optimal safety-stock level is the quantity of safety stock that minimizes the sum of annual relevant stockout and carrying costs

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Question # 18

Company XYZ is a candy manufacturer. Company XYZ makes a batch of 1,000 Christmas candy canes that are no longer edible after December 31. Company XYZ is able to sell 750 canes of the batch, but the other 250 are sitting in the warehouse. December 31 comes, and these candy canes is no longer sell-able. The batch of 250 candy canes belongs to which type of inventory?

A.

Obsolete inventory

B.

Buffer stock

C.

Redundant inventory

D.

Stockout

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Question # 19

The purchase-order lead time is the...?

A.

Period between receiving a customer order and producing the products

B.

Time needed to correct errors in the defective products

C.

Period between placing an order and its delivery

D.

Period between receiving a customer order and delivering the items

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Question # 20

XYZ Ltd is looking for new office space overseas. To keep the overhead expense minimal, it chooses leasing rather than purchasing new office. In leasing contract, which of the following costs are most likely to be attributable to the lessee?

1. Disposal costs

2. Rentals

3. Operating costs

4. Vendor selection costs

A.

2, 3 and 4

B.

1, 2 and 3

C.

1, 3 and 4

D.

1, 2 and 4

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