CIPS L4M8 Exam - Topic 3 Question 34 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 34
Topic #: 3

[All L4M8 Questions]

Create a list of tangible, intangible, direct and indirect needs within an organization with which you are familiar.

AExplanation:
Tangible costs are the cost an organization incur acquiring items that can be physically touched and or seen. Examples includes; 1) Capital Purchase 2) Raw materials 3) Sundry items 4) Vehi-cles/transport 5) Utilities
Intangible costs are the cost an organization incurs acquiring something that cannot be physically seen or touched. Examples include; 1) Insurance 2) Marketing 3) Research and development 4) Salaries and/pension 5) Services 6) Training.
Direct costs -- These are costs that an organization incurs acquiring product and services directly attributable/traceable to its production, for example, the cost of labour and materials directly uses to produce the goods/services which the organization sells. In the case of buying and running a Lorry for transport fleet, this would be 1) total cost of acquiring the lorry,) Tooling 3) Operation.
Indirect cost - These are costs that are not directly associated to production, for example, materials and services not used in production, labour/ staff cost not directly attributed to production, such as management, sales and marking, ICT support, rents. In the case of buying and running a Lorry for transport fleet. Examples are; 1) Insurance 2) Disposal.
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by Flo at May 09, 2024, 11:45 AM

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Michell

3 months ago

I think training should be a tangible need too, right?

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Karrie

3 months ago

Intangible costs like marketing can make or break a company!

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Lenora

3 months ago

Wait, are indirect costs really that significant?

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Lera

4 months ago

Totally agree, direct costs are crucial for budgeting!

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Juan

4 months ago

Tangible costs include vehicles and utilities.

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Rolande

4 months ago

I feel confident about tangible needs, but I struggle with intangible ones. I hope I can recall some good examples during the exam!

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Tambra

4 months ago

We had a practice question on this last week, and I think I got the definitions mixed up. I need to double-check what counts as indirect costs.

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Tambra

4 months ago

I think direct costs are easier to identify, like materials and labor, but indirect costs always confuse me a bit.

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Carissa

5 months ago

I remember we discussed tangible and intangible needs in class, but I’m not sure if I can list enough examples for each category.

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Kasandra

5 months ago

This is a good opportunity to demonstrate my understanding of these concepts. I'll make sure to include a variety of examples for each type of need to show my depth of knowledge on the topic.

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Micaela

5 months ago

Okay, I think I've got a good strategy here. I'll make four separate lists - one for tangible needs, one for intangible, one for direct, and one for indirect. That way I can be sure I cover all the bases and provide clear, organized responses.

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Agustin

5 months ago

Hmm, I'm a little unsure how to approach this. Do we need to provide specific examples for each type of need, or just list the categories? I want to make sure I fully understand the question before I start writing.

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Chan

5 months ago

This seems like a straightforward question, just need to list out the different types of needs within the organization. I'll start by thinking of some tangible and intangible needs, then direct and indirect ones.

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Tyra

5 months ago

This seems like a straightforward question about deploying Office 365 ProPlus to devices using Windows Autopilot. I think the key is to understand the options available for distributing the software.

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Ellsworth

5 months ago

Okay, let me re-read the question. I'm leaning towards B - Subscribed catalog, but I want to double-check the other options just to be sure.

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Nieves

5 months ago

Okay, let me see here. The UiPath Robotic Enterprise Framework template - I'm guessing it's probably used as a starting point for automations, but I'm not entirely sure.

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Telma

5 months ago

Hmm, I'm a bit unsure about how to approach this. I'll need to review my notes on AON diagrams and float calculations.

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Cherry

9 months ago

Okay, let's see if I can keep all these categories straight. Tangible costs are the physical stuff, intangible are the invisible ones, direct are the production-related, and indirect are the support costs. Got it!

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