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APICS CPIM Exam
Certified in Production and Inventory Management (Page 8 )

Updated On: 30-Jan-2026
Page 8 of 119
PDF with 588 Questions

Which of the following is NOT the method accounting use to cost inventory?

  1. First in first out
  2. Last in first out
  3. Average cost
  4. Analysis cost

Answer(s): D



What uses cost determined before production begins?

  1. Standard cost
  2. Cost of quality
  3. Average cost
  4. Analysis cost

Answer(s): A



When a small number of items often dominate the results achieved in any situation, this is called:

  1. Standard law
  2. Recessive Act
  3. Pareto's law
  4. Petite Act

Answer(s): C



Which costs can be avoided by leveling production, that is, by producing items in slack periods for sale in peak periods?

  1. Capacity-associated control
  2. Production cost
  3. Purchase order cost
  4. Stock-out cost

Answer(s): A



When a quantity of an item equal to the order point quantity is set aside and not touched until all the main stock is used up, this strategy is called:

  1. Two-bin system
  2. Dual system
  3. Two-fold system
  4. Wait-for-next strategy

Answer(s): A



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