[Jan 08, 2025] New Real IAM-Certificate Exam Dumps Questions
Pass Your IAM-Certificate Exam Easily with Accurate The Institute of Asset Management Certificate PDF Questions
NEW QUESTION # 33
IAM based decision produce real saving, where saving develop from, except ......
- A. Compliment asset
- B. Cost Effectiveness
- C. Cost Avoidance
- D. Efficiency gains
Answer: A
NEW QUESTION # 34
A key role of asset management is to assure the delivery of value in line with:
- A. Required residual risk profile
- B. Return on Investment (ROI) and/or Return on Net Assets (RONA.
- C. All True
- D. Agreed performance / levels of service
Answer: C
NEW QUESTION # 35
Asset Management is important because it can help organisations to, except .....?
- A. Minimize the environmental impact of operating the assets
- B. Reduce the capital costs of investing in the asset base
- C. Improve the regulatory performance of the organisation
- D. Increase the potential health impacts of operating the assets
Answer: D
NEW QUESTION # 36
ISO 55001 sets out requirements for an asset management policy which fall into five categories:
- A. Consistency, A priori, Commitment, A framework, Communication
- B. Consistency, Appropriateness, Commitment, A framework, Communication
- C. Consistency, A priori, Commitment, Balancing, Communication
- D. Consistency, Appropriateness, Maintenance, A framework, Communication
Answer: B
NEW QUESTION # 37
Which of these is NOT a key principle of asset management?
- A. Linking decisions to the overall business objectives
- B. Applying a whole-life perspective
- C. All of above false
- D. Reducing the costs of investments
Answer: D
NEW QUESTION # 38
When undertaking whole-life cost analysis it is important to remember that:
- A. As many costs as possible should be included in the analysis ensuring these are consistently derived between analyses
- B. The analysis should be completed without reference to other organisational functions to ensure independence
- C. It is impossible to get the right answer unless all the data and information are understood
Answer: C
NEW QUESTION # 39
Which of these statements is true:
- A. Asset information should be guided by the relevance of the information to the asset management 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: C
NEW QUESTION # 40
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. False
- B. True
Answer: B
NEW QUESTION # 41
ISO 55000 is ......
- A. The international reference standard to sets out the criteria for a quality management system
- B. The international reference standard to sets out the criteria for an environmental management system
- C. The international reference standard for the optimal management of physical assets.
- D. The international reference standard that provides the overview of information security management systems
Answer: C
NEW QUESTION # 42
What is PAS 55?
- A. A BSI Previously Available Specification for the optimized management of physical assets
- B. A BSI Publically Available Specification for the optimized management of physical assets
- C. A BSI Publically Available Specification for the optimized management of financial assets
- D. A BSI Previously Available Specification for the optimized management of financial assets
Answer: B
NEW QUESTION # 43
Which of the following statements is not a management asset?
- A. a substitute for quality management
- B. understanding and managing the risk associated with owning assets
- C. an approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders
- D. a recognition that assets have a life cycle
Answer: A
NEW QUESTION # 44
ISO 55001 defines seven sets of requirements for a management system for asset management, except ...
- A. Defining the Organisational Context
- B. Support for effective management
- C. Multi-level Planning for assets and asset management
- D. Controlling
Answer: D
NEW QUESTION # 45
Which of the following statements is true?
- A. Assets is not a potential value to an organisation
- B. Assurance is the combination of monitoring and auditing
- C. Visible senior level leadership and commitment is insignificant in organisations
- D. Good asset management has clear connectivity between an organisation's strategic plan and the value core
Answer: B
NEW QUESTION # 46
What Is the Asset Life Cycle?
- A. a project management system
- B. a substitute for quality management
- C. All False
- D. a strategic and analytical approach to the management of a business's assets.
Answer: D
NEW QUESTION # 47
The term optimizing describes.
- A. The process of Maintenance the best value compromise between a set of competing factors, in order to support asset management decision-making
- B. The process of establishing the best value compromise between a set of competing factors, in order to support asset management decision-making
- C. The process of review the best value compromise between a set of competing factors, in order to support asset management decision-making
- D. The process of control the best value compromise between a set of competing factors, in order to support asset management decision-making
Answer: B
NEW QUESTION # 48
Based on ISO 55000 regarding asset management system, which of the following statements is false!
- A. Is a regulation to help the organization
- B. Provides a documented foundation for the asset management operation
- C. Is application agnostic
- D. Is not a software
Answer: A
NEW QUESTION # 49
Two widely used approaches to conceptualising value in an organisation are:
- A. The Value Stream and Delivery
- B. The Value Stream and Chain
- C. The Value Net and Delivery
- D. The Value Net and Chain
Answer: B
NEW QUESTION # 50
Which of the following types of information would NOT normally be required for the development of an asset management plan?
- A. Asset Critically
- B. Organisation's share price
- C. Asset Condition
- D. Asset Register
Answer: B
NEW QUESTION # 51
There are many factors that can drive the decommissioning of assets, expect:
- A. obsolete technology
- B. compliance with changes in legislation
- C. excess of service capacity
- D. cost of retaining in service
Answer: B
NEW QUESTION # 52
There are 4 fundamentals in asset management, including ....
- A. Value, Alignment, Leadership and Insurance
- B. Value, Alignment, Proggresive and Assurance
- C. Value, Alignment, Leadership and Assurance
- D. Value, Competitif, Leadership and Assurance
Answer: C
NEW QUESTION # 53
An ISO 55000 asset management system provides the structure, methodology and mechanism to helping asset-intensive organizations deliver on their objectives.
- A. False
- B. True
Answer: B
NEW QUESTION # 54
The purpose of an Asset Information Strategy is to:
- A. Provide the overall framework and plan for asset information which will deliver the organisation's asset information requirements
- B. Specify the requirements for procuring the organisation's asset information system
- C. Collate the standards which define the collection, storage and use of asset information
- D. Calculating the lowest cost options for the entire commercial life of a building
Answer: C
NEW QUESTION # 55
A definition of asset management is:
- A. The optimal maintenance an organisation undertakes on its assets?
- B. The optimal life cycle management of physical assets to sustainably achieve the stated business objectives?
- C. a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations
- D. A clear understanding of the linkages between each stage in the asset lifecycle?
Answer: A
NEW QUESTION # 56
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. False
- B. True
Answer: B
NEW QUESTION # 57
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