CIPS L4M7 : CIPS Whole Life Asset Management

  • Exam Code: L4M7
  • Exam Name: CIPS Whole Life Asset Management
  • Updated: Oct 24, 2026     Q & A: 297 Questions and Answers

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CIPS L4M7 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Hidden costs – global sourcing, risks associated with extended supply chain
  • Cross functional support – ensure access to data
Topic 2
  • Environmental standards for packaging
  • Materials handling equipment
Topic 3
  • Ensure senior management support
  • Use best estimates of values available
  • Identify the contributing elements to end-of-life costs
Topic 4
  • Understand the key elements of effective inventory control
  • Factors that influence stores and warehouse layout
Topic 5
  • Differentiate between the different classifications of inventory
  • Identify techniques associated with inventory control
Topic 6
  • Discuss options to reduce costs whilst mitigating any negative impact on service levels
  • Location of stores and warehouses
Topic 7
  • Contrast the impact of the use of different warehousing equipment
  • Understand methods for the storage and movement of inventory
Topic 8
  • Explain the use of product coding in inventory operations
  • Order tracking technologies

Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/whole-life-asset-management

CIPS Whole Life Asset Management Sample Questions:

Question #1

Which of the following is a description of a distribution centre?

  • A. A building which is rented to tenants, usually on a short-term month-by-month basis
  • B. A large metal box of a standard design and size used for the transport of goods by road, rail, sea, or air
  • C. A large building for storing things before they are sold, used, or sent out to shops
  • D. A building that offers value-added services like product mixing, order fulfilment, cross-docking, and packaging
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #2

Which of the following is commonly used in larger warehouses to transfer larger volumes of stock in box, tote or pallet forms along a fixed path?

  • A. Reach trucks
  • B. Vacuum lifters
  • C. Stacker cranes
  • D. Roller conveyors
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #3

Which of the following supply chain activities can distort data for forecasting inventory?
1. Sales promotions by the marketing department
2. Over-ordering by customers
3. Increase in stock movements in the warehouse
4. Volatile logistic and container prices

  • A. 1 and 4
  • B. 1 and 2
  • C. 5 and 4
  • D. 2 and 3
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #4

The optimum balance in the standard ISO 18602:2013 (Packaging and the environment - Optimi-zation of the packaging system) considers which of the following factors?
1. Environmental impact of losses due to lack of packaging
2. The process for packaging design, including material selection
3. Procedures and requirements for packaging that are suitable for organic recycling
4. Environmental impact of excess packaging

  • A. 1 and 3 only
  • B. 1 and 4 only
  • C. 2 and 4 only
  • D. 2 and 3 only
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

What is the difference between fixed and variable costs?

  • A. Fixed costs do vary with the volume of business Variable costs do not vary with the volume of business
  • B. Fixed costs include items such as labour overtime and direct materials while variable costs do not
  • C. Fixed costs do not vary with the volume of business. Variable costs do vary with the volume of business
  • D. Variable costs include items such as building rental and insurance costs while fixed costs do not
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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