VERIFIED AND UPDATED IAM IAM-CERTIFICATE EXAM QUESTIONS AND ANSWERS

Verified and Updated IAM IAM-Certificate Exam Questions and Answers

Verified and Updated IAM IAM-Certificate Exam Questions and Answers

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IAM The Institute of Asset Management Certificate Sample Questions (Q10-Q15):

NEW QUESTION # 10
Which of these statements is UNTRUE?

  • A. Asset information is always worth collecting regardless of cost
  • B. Asset information can be treated as an asset in its own right
  • C. Asset information has maintenance costs as well as collection costs

Answer: A

Explanation:
Collectingall available asset datawithout consideration ofvalue, relevance, or costleads to waste and inefficiency. Asset data should bejustified by its use in decision-making.
Exact Extract from IAM - Asset Information: Strategy, Management and Governance:
"Information collection should be justified based on decision value. Over-collection can waste resources and impair decision-making clarity."


NEW QUESTION # 11
Which of the following phrases describes best the key advantage of asset management over traditional approaches?

  • A. Asset management ensures all asset interventions (e.g., maintenance or renewal intervals) are optimised with respect to risk
  • B. Asset management is primarily concerned with ensuring that resources are optimally used by putting into place effective planning regimes and processes to continually improve staff competence
  • C. Asset management takes an optimised whole-life view of the work required on the asset portfolio to ensure current and future required levels of service are delivered

Answer: C

Explanation:
OptionBaccurately reflects thewhole-life, value-driven perspectivethat distinguishes asset management. A and C are important aspects but do not encompass the full scope and philosophy of asset management as well as B does.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.1 - What Is Asset Management:
"Asset management differs from traditional operations and maintenance by adopting a whole-life view to optimize asset-related activities and value realization."


NEW QUESTION # 12
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

Explanation:
This statement reflects the foundational objective of ISO 55000: to offer asystematic approachto asset management. This includes the integration of leadership, planning, support, operation, performance evaluation, and continual improvement-all contributing to the achievement of organizational objectives through optimized asset performance.
Exact Extract from ISO 55000:2014, Clause 0.2:
"An asset management system provides a structured approach for developing and implementing asset management activities that deliver the organizational objectives."


NEW QUESTION # 13
Which of the following statements is true?

  • A. Good asset management has clear connectivity between an organisation's strategic plan and the value core
  • B. Visible senior level leadership and commitment is insignificant in organisations
  • C. Assurance is the combination of monitoring and auditing
  • D. Assets is not a potential value to an organisation

Answer: C

Explanation:
* Option Ais poorly phrased; it is partially correct but vague in structure.
* Option Bis incorrect as assetsdorepresent potential or actual value.
* Option Cis accurate-assuranceinvolves ongoing monitoring and evaluation to verify systems, processes, and asset behavior meet expectations.
* Option Dcontradicts ISO 55001, which mandates top-level leadership commitment.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.4.4 - Assurance:
"Assurance is achieved through the combination of monitoring, review, and auditing processes that ensure assets, systems, and outcomes are operating as intended."


NEW QUESTION # 14
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 # 15
......

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