CIPS Diploma L4M7 (Core): Whole-Life Asset Management

Course Overview
This core module in the Diploma in Procurement and Supply is designed to help students thoroughly prepare for their CIPS exam. The practice questions are developed based on the official CIPS Book (Copyright ©CIPS 2023), with updates to the current version in progress. Each question comes with a detailed explanation, including references to the relevant page number and paragraph, ensuring a comprehensive learning experience.

Key Benefits of This Course
Students enrolling in this course will gain the following advantages:

• 143 unique, carefully crafted questions.
• 6 practice tests in total, including:
  • 5 practice tests based on Learning Outcomes (83 questions).
  • 1 full mock exam (60 questions).
• Self-assessment tools to track your progress and readiness.
• Proportionate coverage of all Learning Outcomes, ensuring a balanced understanding of each topic.
• Meticulous explanations for every question, with clear references to the CIPS study material.
• Designed to help you pass your CIPS exam on your first attempt.
• Updated content, aligned with the latest syllabus.

Learning Outcomes
Upon completing this module, learners will be able to explain methods of inventory management, perform inventory analysis, and understand the concept of whole-life asset management. This includes the full lifecycle of a product or service, from inception to disposal, covering aspects like purchase, hire, lease, maintenance, operation, utilities, training, and final disposal. For procurement professionals, these elements are crucial when evaluating whether to buy, rent, or lease equipment.

This course is especially suited for those responsible for the whole-life management of assets, enabling learners to analyze inventory movement and control methods, and grasp the concept of whole-life asset cost.

Comprehensive Practice Questions
The questions are designed to enhance learners’ understanding of key concepts in whole-life asset management. They provide a thorough grasp of inventory control methods and the total cost of ownership. Upon completing the practice tests, learners will be able to:

• Analyze, interpret, and evaluate relevant information related to asset management.
• Gain a well-rounded awareness of different perspectives and approaches in procurement and supply.
• Prepare for real-world questions they may face in the CIPS exam.

Practice Test Experience
After completing each of the six practice tests, learners will be able to assess their preparation level. The questions follow the official CIPS exam format, giving participants a realistic experience of what to expect in the actual exam.

Once a test is completed, participants will receive immediate feedback on their scores, helping them understand their preparation level for each Learning Outcome. Each question is accompanied by detailed explanations—sometimes including graphs, charts, tables, or links—to clarify the reasoning behind the correct answer. The explanations also reference the relevant page and Learning Outcome from the CIPS Module Book to facilitate easy cross-referencing.

Disclaimer
These practice tests are created solely for exam preparation and to help MCIPS candidates better understand the concepts covered in the CIPS Study Guide. The questions and answers provided do not necessarily represent the official views of CIPS. It is recommended that participants review the CIPS Study Guide before making any decisions. These tests are a supplementary tool and are not a substitute for the official CIPS Study Guide.