BEST Verified IAM IAM-Certificate Exam Questions (2024)
The Best Practice Test Preparation for the IAM-Certificate Certification Exam
NEW QUESTION # 14
Capital Investment Decision-Making comprises the processes to .....
- A. Decreasing the capability of assets
- B. evaluate and analyse options for the creation of new assets
- C. All false
- D. The replacement of modal at the end of their useful life
Answer: B
NEW QUESTION # 15
How many elements does the IAM Asset Management Conceptual Model contain?
- A. Four
- B. Seven
- C. Six
- D. Five
Answer: A
NEW QUESTION # 16
(Exposure to) the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility, is the definition of .......
- A. Cost
- B. Asset
- C. Risk
- D. Value
Answer: C
NEW QUESTION # 17
ISO 55001 defines seven sets of requirements for a management system for asset management, except ...
- A. Defining the Organisational Context
- B. Controlling
- C. Multi-level Planning for assets and asset management
- D. Support for effective management
Answer: B
NEW QUESTION # 18
Which of the following statements is not a management asset?
- A. a substitute for quality management
- B. a recognition that assets have a life cycle
- C. an approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders
- D. understanding and managing the risk associated with owning assets
Answer: A
NEW QUESTION # 19
To successfully establish, operate and improve asset management within an organisation, it is essential that leadership, and commitment, is demonstrated by all levels of management - from senior executives to supervisors.
- A. True
- B. False
Answer: A
NEW QUESTION # 20
There are 4 fundamentals in asset management, including ....
- A. Value, Alignment, Leadership and Assurance
- B. Value, Competitif, Leadership and Assurance
- C. Value, Alignment, Proggresive and Assurance
- D. Value, Alignment, Leadership and Insurance
Answer: A
NEW QUESTION # 21
Which statement is INCORRECT?
- A. The Asset Management Policy should be consistent and aligned with the corporate objectives and strategy
- B. All above true
- C. The Asset Management Policy should be consistent and aligned with all other relevant organisational policies
- D. The Asset Management Policy should be derived from all other relevant organisational policies
Answer: D
NEW QUESTION # 22
Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:
- A. All above true
- B. Asset systems criticality
- C. Scale and complexity of the asset portfolio
- D. Volatility of the business environment
Answer: A
NEW QUESTION # 23
Asset Management is explicitly focussed on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.
- A. True
- B. False
Answer: A
NEW QUESTION # 24
What is the correct top-down hierarchy order for the following PAS 55 defined documents?
- A. Asset Management Policy, Plans, Strategy and Objectives
- B. Asset Management Policy, Strategy, Objectives and Plans
- C. Asset Management Policy, Objectives, Strategy and Plans
- D. Asset Management Strategy, Policy, Objectives and Plans
Answer: B
NEW QUESTION # 25
According to ISO 55000, assets is .....
- A. Refers to all the materials available in our environment
- B. Item, thing or entity that has potential or actual value to an organization.
- C. A type of investment that represents an ownership share in a company
- D. Processed, organized and structured data
Answer: B
NEW QUESTION # 26
The following things are taken into consideration in developing an asset management strategy, except :
- A. Management needs
- B. Life cycle approach
- C. Consistency
- D. Asset requirements
Answer: A
NEW QUESTION # 27
Successful delivery of the asset management plan(s) relies on integration with other organisational plans in both the development and delivery phases
- A. True
- B. False
Answer: A
NEW QUESTION # 28
What is the purpose of whole-life cost analysis?
- A. To determine the most important costs associated with an asset
- B. To determine the renewal costs at the end of an asset's life
- C. To determine the option for a particular decision which has the lowest costs over the life of the asset
Answer: C
NEW QUESTION # 29
Which of the following types of information would NOT normally be required for the development of an asset management plan?
- A. Asset Register
- B. Asset Critically
- C. Asset Condition
- D. Organisation's share price
Answer: D
NEW QUESTION # 30
How many roles are there in the IAM Competences Framework?
- A. Three
- B. Seven
- C. Six
- D. Five
Answer: B
NEW QUESTION # 31
Which of the following statements is true?
- A. Visible senior level leadership and commitment is insignificant in organisations
- B. Assurance is the combination of monitoring and auditing
- C. Good asset management has clear connectivity between an organisation's strategic plan and the value core
- D. Assets is not a potential value to an organisation
Answer: B
NEW QUESTION # 32
This covers everything the goes into planning, designing and procuring an asset.
- A. Dispose
- B. Acquire
- C. Commission
- D. Operate
Answer: B
NEW QUESTION # 33
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