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IAM The Institute of Asset Management Certificate Sample Questions (Q30-Q35):

NEW QUESTION # 30
ISO 55000 is ......

A. The international reference standard to sets out the criteria for a quality management system
B. The international reference standard that provides the overview of information security management systems
C. The international reference standard for the optimal management of physical assets.
D. The international reference standard to sets out the criteria for an environmental management system

Answer: C

Explanation:
ISO 55000 is a part of the ISO 55000 series (including ISO 55001 and ISO 55002), which serves as the international standard for asset management. It outlines the principles, terminology, and benefits of implementing an asset management system. It is not related to quality, environmental, or information security management systems, which are governed by ISO 9001, ISO 14001, and ISO 27001 respectively.
Exact Extract from ISO 55000 - Asset Management - Overview, Principles and Terminology:
"This International Standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management." (ISO 55000:2014, Clause 1 - Scope)

NEW QUESTION # 31
A key role of asset management is to assure the delivery of value in line with:

A. All True
B. Required residual risk profile
C. Return on Investment (ROI) and/or Return on Net Assets (RONA.
D. Agreed performance / levels of service

Answer: A

NEW QUESTION # 32
What is good practice to be included in an asset management policy?

A. A statement of commitment to comply with regulations, a list of the top risks to the organisation, principles guiding the development of the asset management strategy and objectives.
B. A statement of commitment to comply with regulations, a commitment to continuous improvement, and the asset management strategy.
C. A statement of commitment to comply with regulations, budget for the next five years, a commitment to continuous improvement, principles guiding the development of the asset management strategy and objectives.
D. A statement of commitment to comply with regulations, a commitment to continuous improvement, a detailed plan of the work for the following year.
E. A statement of commitment to comply with regulations, a commitment to continuous improvement, and principles guiding the development of the asset management strategy and objectives.

Answer: E

Explanation:
An effectiveAsset Management Policyoutlines the organization's high-level intent and principles regarding asset management. It doesnot include specific budgetary or operational detailslike annual plans.
Exact Extract from ISO 55001:2014, Clause 5.2 - Asset Management Policy:
"Shall include a commitment to satisfy applicable legal requirements, continual improvement, and provide a framework for setting asset management objectives and strategy."

NEW QUESTION # 33
Capital Investment Decision-Making comprises the processes to .....

A. Decreasing the capability of assets
B. All false
C. The replacement of modal at the end of their useful life
D. Evaluate and analyse options for the creation of new assets

Answer: D

Explanation:
Capital Investment Decision-Making is a structured process that evaluatesinvestment options, typically considering total lifecycle cost, business value, and risk. While asset replacement may be a consequence, the broader goal is optimization of value creation through new asset deployment.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.3 - Capital Investment Decision-Making:
"This includes identification, evaluation, and prioritization of investment options to create, upgrade or renew assets in alignment with organizational objectives."

NEW QUESTION # 34
Which of these statements is true:

A. Asset information should be guided by the relevance of the information to the assetmanagement decisions that need to be made about the asset
B. Asset information should be collected on all measurable aspects of an asset's function and performance
C. Asset information requirements should be derived according to the requirements set out in the IT department's procurement specification

Answer: A

Explanation:
Information collection must bepurpose-driven, not exhaustive or IT-defined. IAM emphasizes the"fitness- for-purpose"principle: collect only the data required to inform decision-making.
Exact Extract from IAM - Asset Information: Strategy, Management and Governance:
"Information requirements must be defined based on decision-making needs, not system capability or departmental standards."

NEW QUESTION # 35
......

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Pass IAM-Certificate Guide & IAM-Certificate Accurate Study Material

IAM-Certificate Accurate Study Material - IAM-Certificate Exam Topic

IAM The Institute of Asset Management Certificate Sample Questions (Q30-Q35):

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