Question 1

Determining the optimal replacement time for spares (spare parts) with an unacceptable interval, needs to account for:

Options :

A : The depreciated value of the equipment.

B : The value of money changing over time.

C : The interest charges for capital expenditures.

D : The cost of borrowing versus interest lost on operating funds.

Answer: B

Question 2

When developing and presenting a new strategic plan to stakeholders, which of the following is the most important?

Options :

A : Implementation timetable

B : Gaining the trust of stakeholders

C : Craft (trade) flexibility

D : Establishment of a common goal

Answer: B

Question 3

Process measures are leading indicators that offer an indication of task performance with a lead time to manage for successful results. All of the following are examples of leading indicators except:

Options :

A : % planned maintenance.

B : Asset Availability.

C : planner to craft workers ratio.

D : % rework.

Answer: B

Question 4

For a reliability engineer, identify the appropriate key performance indicator below that he/she should receive (Le„ that they can best influence or control and are accountable for):

Options :

A : % rework (perform the same work on a piece of equipment in a short interval).

B : Equipment utilization rate.

C : Shift stream factor and production rate.

D : Mean Time Between Failures (MTBF).

Answer: A

Question 5

In lean Manufacturing environment which formula most accurately defines profit?

Options :

A : (Price-Cost-Waste)/Volume

B : Profit = Price - Cost

C : Profit = (Price-Cost)/Volume

D : Profit = (price-cost) X volume

Answer: A

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