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SMRP Certified Maintenance & Reliability Professional Exam Sample Questions (Q129-Q134):

NEW QUESTION # 129
Which of the following is a disadvantage of the FIFO system?

  • A. Current revenues are distinct from older costs.
  • B. It is more difficult to manipulate.
  • C. It cannot be compared with the matching of cost flow and physical flow by the specific identification system.
  • D. Ending inventory is significantly different than current replacement cost.

Answer: B

Explanation:
One disadvantage of the first-in, first-out (FIFO) system is that it is more difficult to manipulate. That is, because the order in which products enter and leave inventory is predetermined, the business cannot structure imports and exports to increase or decrease inventory levels. Another problem with the FIFO system is that current revenues are matched with older costs, which can create confusion. Also, ending inventory will be roughly the same as current replacement cost, though this is an advantage of the FIFO system. Finally, the specific identification system's method of matching cost flow and physical flow is very similar to the FIFO system.


NEW QUESTION # 130
What is the statistical average and the population standard deviation of the following series of numbers? 1.30, 1.25, 1.50, 1.12, 1.35, 1.38 Options

  • A. Statistical average = 0.128: standard deviation= 1.32
  • B. Statistical average = 1.50; standard deviation= 0.25
  • C. Statistical average = 1.32; standard deviation= 0.128
  • D. Statistical average = 1.32; standard deviation= 1.50

Answer: C


NEW QUESTION # 131
What is a standard methodology to reduce or increase the frequency of a PM inspection?

  • A. Risk Based Inspection (RBI)
  • B. American Petroleum Institute (API)
  • C. American National Standards Institute (ANSI)
  • D. American Society of Mechanical Engineers (ASME)

Answer: A


NEW QUESTION # 132
all internal maintenance labor costs, including benefits and both straight time and overtime, for all direct and indirect maintenance employees

  • A. Maintenance Training Cost (per employee) Formula
  • B. Overall Equipment Effectiveness (OEE) definition
  • C. Total Maintenance Cost As a Percent of Replacement Asset Value (RAV) Formula
  • D. TOTAL INTERNAL MAINTENANCE EMPLOYEE LABOR COSTS

Answer: D


NEW QUESTION # 133
True

  • A. Maintenance Training Cost (per employee) Formula
  • B. Lagging KPIs are the results of a process. (T/F)
  • C. The failure rate of a component/asset can be calculated by knowing:
  • D. Most of the maintenance costs become fixed at what phase?

Answer: B


NEW QUESTION # 134
......

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