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New Guide IAM-Certificate Files, Download IAM-Certificate Pdf

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IAM The Institute of Asset Management Certificate Sample Questions (Q67-Q72):

NEW QUESTION # 67
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 # 68
The objectives that the organization wants to achieve from its asset management activities, are ....

A. A & B True
B. the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole
C. A & B False
D. to describe an organisation's long-term approach to managing its assets

Answer: A

Explanation:
Asset management objectives capture bothstrategic intentandperformance expectations. They serve as the basis for determining investment priorities, risk controls, and lifecycle decisions.
* Arefers to the long-term vision of asset management.
* Bspecifies measurable technical and functional requirements.Both are correct and together form the foundation of asset-centric organizational planning.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.1 - Asset Management Objectives:
"Asset management objectives describe what the organization aims to achieve from managing its assets, including both long-term direction and specific capability and performance outcomes."

NEW QUESTION # 69
A public transportation company has a fleet of 150 trams. Type A (25 years old), Type B (19 years), Type C (2 years). Expected lifetime is 30 years. Type A and B perform sufficiently but suffer obsolescence and spare parts issues.
What would be a feasible action now?

A. Modify type A and B to maintain service and solve obsolescence
B. Replace type A and B with 80 new type C trams to standardize fleet
C. Prepare to phase out type A as they are near the end of life
D. Start an asset rationalisation study on type A (and maybe B) to determine the possible end-of-life options
E. Prepare an overhaul for type A and B

Answer: D

Explanation:
Anasset rationalisation studyevaluates all options-life extension, replacement, disposal-based on lifecycle cost, performance, and risk. This is thestrategically prudent stepbefore committing to major capital outlay.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5.3 - Optimisation and Decision-Making:
"Rationalisation studies support investment decisions by examining value-for-money across options, including retention, replacement, or decommissioning."

NEW QUESTION # 70
What is good practice to be included in an asset management policy?

A. A statement of commitment to comply with regulations, a commitment to continuous improvement, and the asset management strategy.
B. 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.
C. A statement of commitment to comply with regulations, a commitment to continuous improvement, a detailed plan of the work for the following year.
D. 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.
E. 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.

Answer: B

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 # 71
There are 7 principles of asset management :

A. All true
B. Value added
C. Lifecycle
D. Probability

Answer: A

NEW QUESTION # 72
......

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