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CIPS L3M2 Exam - Topic 4 Question 19 Discussion

Actual exam question for CIPS's L3M2 exam
Question #: 19
Topic #: 4
[All L3M2 Questions]

'The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:

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Suggested Answer: A

Quality.

Specification is fundamental to receiving the right quality.

Standards can be seen as a form of specification intended for recurrent use (Lysons)


by Ciara at Sep 12, 2024, 03:47 PM

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Roxane
3 months ago
Lifetime costing really shines with long life assets.
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Ming
3 months ago
Shelf life is important for inventory decisions.
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Magdalene
3 months ago
Wait, after life? Is that even a thing?
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Lennie
4 months ago
I disagree, short life can be useful too.
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Rickie
4 months ago
Definitely long life assets!
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Kallie
4 months ago
I believe it's definitely about long life assets, since you want to consider costs over the entire period of use.
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Thea
4 months ago
I’m a bit confused; does lifetime costing apply to short life assets too? I need to recall that part.
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Dong
4 months ago
I remember practicing a similar question, and I think the focus was on long-term investments.
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Marguerita
5 months ago
I think lifetime costing is more relevant for assets with a long life, but I'm not entirely sure.
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Billi
5 months ago
Wait, what's the difference between short life and after life? I'm a little confused by the wording of the options here. I'll have to re-read the question and think it through step-by-step.
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Reynalda
5 months ago
Okay, I've got this. Lifetime costing is all about evaluating the total costs over the full lifespan of an asset, so the expected life is a critical factor. I'm pretty confident that the answer is B, long life, since that's when lifetime costing would be most useful.
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Lilli
5 months ago
Hmm, I'm a bit unsure about this one. I know lifetime costing is used for decision-making, but I'm not totally clear on how the expected life of the asset factors into that. I'll have to think this through carefully.
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Carri
5 months ago
This seems like a straightforward question about the purpose of lifetime costing. I'll focus on understanding the key differences between short and long life assets to determine the best answer.
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Cherry
5 months ago
I remember studying about thick clients and how they handle business logic, but I can't recall if that's part of the three-tier architecture.
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Belen
5 months ago
This looks straightforward enough. I'm pretty confident I can solve this one quickly and move on to the next question.
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Felix
10 months ago
B, for sure. Long life assets are where lifetime costing really shines. Gotta consider all those future costs, not just the initial purchase price.
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Kanisha
9 months ago
D) Shelf life
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Kayleigh
9 months ago
C) After life
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Merilyn
9 months ago
B) Long life
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Moon
10 months ago
A) Short life
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Reta
10 months ago
Haha, D. Shelf life? That's a good one. I'll have to remember that one for the next time I'm taking a certification exam.
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Roselle
10 months ago
C? After life? Really? I think the person who wrote this question needs to brush up on their asset management terminology.
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Abraham
10 months ago
D) Shelf life
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Stevie
10 months ago
B) Long life
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Leeann
10 months ago
A) Short life
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Chau
10 months ago
I was going to say A, but now I'm not so sure. Hmm, I'll have to think about this one a bit more.
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Corinne
10 months ago
I'm not sure, but I think it's A) Short life because you need to consider costs over the entire lifespan of the asset.
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Felton
10 months ago
I agree with Whitney, lifetime costing is important for assets with long life.
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Whitney
11 months ago
I think the answer is B) Long life.
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Trevor
11 months ago
Definitely B. Lifetime costing is most useful for assets with a long life, where the ongoing operational and maintenance costs can make a big difference.
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Wai
9 months ago
Shelf life assets may not even be relevant for lifetime costing calculations.
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Beatriz
9 months ago
B) Long life
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Brittney
10 months ago
Short life assets may not benefit as much from lifetime costing analysis.
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Glynda
10 months ago
Long life assets can have significant operational and maintenance costs that need to be considered.
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Olga
10 months ago
A) Short life
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Shala
10 months ago
I agree, lifetime costing is definitely more useful for assets with a long life.
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