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APICS CPIM Exam
Certified in Production and Inventory Management (Page 5 )

Updated On: 30-Jan-2026
Page 5 of 119
PDF with 588 Questions

A calculated extra amount of stock carried and is generally used to protect against quantity uncertainty in known as:

  1. Safety stock
  2. Average stock
  3. Secure stock
  4. All of the above

Answer(s): A



Stockout cost money for which of the following reason?

  1. Back-order costs
  2. Lost costs
  3. Lost customers
  4. All of the above

Answer(s): D



To order exactly what is needed, no more, no less, this rule is called:

  1. lot-for-lot
  2. Fixed-order quantity
  3. Permanent lot
  4. Rigid-order rule

Answer(s): A



As applied to inventories, it is usually found that the relationship between the percentage of items and the percentage of annual dollar usage follows a pattern in which three groups can be defined:
Group A About 50 % of the items account for about 5 % of the dollar usage Group B About 20 % of the items account for about 80 % of the dollar usage Group C About 30 % of the items account for about 15 % of the dollar usage

  1. True
  2. False

Answer(s): B



Inventory investment can be balanced with:

  1. Customer service
  2. Costs associated with changing production levels
  3. Cost of placing orders
  4. All of the above

Answer(s): D



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