VALID IAM-CERTIFICATE EXAM NOTES | IAM-CERTIFICATE VALID VCE

Valid IAM-Certificate Exam Notes | IAM-Certificate Valid Vce

Valid IAM-Certificate Exam Notes | IAM-Certificate Valid Vce

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IAM The Institute of Asset Management Certificate Sample Questions (Q17-Q22):

NEW QUESTION # 17
What is the correct top-down hierarchy order for the following PAS 55 defined documents?

  • A. Asset Management Policy, Strategy, Objectives and Plans
  • B. Asset Management Policy, Objectives, Strategy and Plans
  • C. Asset Management Policy, Plans, Strategy and Objectives
  • D. Asset Management Strategy, Policy, Objectives and Plans

Answer: A

Explanation:
According toPAS 55 and ISO 55001, the hierarchy flows fromhigh-level principles and intent (policy)to detailed tactical execution (plans):
* Policy- Organizational intent and principles
* Strategy- Long-term approach for achieving objectives
* Objectives- Specific performance and capability targets
* Plans- Scheduled actions to meet objectives
Exact Extract from PAS 55-1:2008, Section 4.2.1:
"The asset management policy leads into the asset management strategy, from which objectives and corresponding plans are derived."


NEW QUESTION # 18
Procurement and delivery of the solution to time, cost and quality targets. What phase is it?

  • A. Concept phase
  • B. Implementation phase
  • C. Definition phase
  • D. Handover and closeout phase

Answer: B


NEW QUESTION # 19
When undertaking whole-life cost analysis it is important to remember that:

  • A. The analysis should be completed without reference to other organisational functions to ensure independence
  • B. It is impossible to get the right answer unless all the data and information are understood
  • C. As many costs as possible should be included in the analysis ensuring these are consistently derived between analyses

Answer: B


NEW QUESTION # 20
When developing a new Strategic Asset Management Plan, which of the following pieces of information will be most relevant?

  • A. Availability of finance, demand forecasts, risk appetite
  • B. Cost of capital, demand forecasts, competitor analysis
  • C. Historic cost trends, demand forecasts, cost of capital
  • D. Availability of capital, service performance requirements, historic demand
  • E. Availability of finance, demand forecasts, maintenance schedules

Answer: A

Explanation:
AStrategic Asset Management Plan (SAMP)aligns long-term organizational objectives with asset strategy.
Key inputs includeavailable financial resources,demand forecasts, and theorganization's risk appetite- which determines how aggressively or conservatively assets will be managed.
Exact Extract from ISO 55002:2018, Clause 5.1 - Strategic Planning:
"Inputs to the strategic asset management plan include: demand forecasts, financial constraints, and organizational risk management approach."


NEW QUESTION # 21
The benefits of an asset management system are...

  • A. Formalizes asset management
  • B. Bring best practices into the organization
  • C. Establish roles and responsibilities
  • D. A-B-C are true

Answer: D

Explanation:
An asset management system, especially when aligned with ISO 55000, delivers comprehensive business benefits, including structured role clarity, procedural discipline, and the integration of industry best practices.
This leads to more transparent governance, accountability, and performance management across the asset lifecycle.
* Ais true: It transforms informal practices into formal procedures.
* Bis true: Clearly defines roles and governance responsibilities.
* Cis true: Embeds global best practices via systematic frameworks.
Exact Extract from ISO 55000:2014, Clause 3.4:
"An asset management system enables an organization to achieve its asset management objectives and derive value from its assets... It formalizes roles and responsibilities and incorporates recognized practices."


NEW QUESTION # 22
......

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