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SMRP Certified Maintenance & Reliability Professional Exam Sample Questions (Q55-Q60):

NEW QUESTION # 55
Which inventory system requires regular physical inventory counts?

A. Neither periodic nor perpetual
B. Both periodic and perpetual
C. Perpetual
D. Periodic

Answer: B

Explanation:
Both the periodic and the perpetual inventory systems require regular physical inventory counts. In the periodic inventory system, the physical count occurs at the end of the accounting period. It is necessary for the calculation of cost of goods sold and the matching of physical count to inventory balance. The perpetual inventory system requires a physical count to identify inaccuracies in the perpetual records.
Employee theft and shoplifting can result in inventory inaccuracies.

NEW QUESTION # 56
When a sale is designated FOB shipping point, who owns the merchandise while it is in transit?

A. The seller
B. The purchaser
C. None of the above
D. The shipping company

Answer: B

Explanation:
When a sale is designated FOB (free on board) shipping point,
the purchaser owns the merchandise while it is in transit FOB shipping point means that the purchaser assumes ownership and becomes responsible for shipping costs when the merchandise is picked up from the seller. Therefore, while it is in transit, the purchaser is considered to own the merchandise.

NEW QUESTION # 57
The number of units produced during a designated time period.

A. Availability Formula
B. TOTAL INTERNAL MAINTENANCE EMPLOYEE LABOR COSTS
C. Standard Units Produced
D. Total Units Produced

Answer: D

NEW QUESTION # 58
Grouping of data into families and eliminating statistical outliers from a statistical alarm calculation:

A. Must be performed to assure proper calculation of statistical alarms.
B. Can be dealt with by using the percent offset method.
C. Is not necessary as the standard deviation process corrects for all deviations.
D. Will only affect the bad data, but not affect the good data.

Answer: A

NEW QUESTION # 59
The number of units produced during a designated time period. → Availability Formula

A. True
B. False

Answer: B

NEW QUESTION # 60
......

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SMRP Certified Maintenance & Reliability Professional Exam Sample Questions (Q55-Q60):

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