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IAM The Institute of Asset Management Certificate Sample Questions (Q39-Q44):

NEW QUESTION # 39
This covers everything the goes into planning, designing and procuring an asset.

A. Operate
B. Dispose
C. Commission
D. Acquire

Answer: D

NEW QUESTION # 40
Value based on AM is ......

A. Value objective
B. Value creation
C. Waste elimination
D. The Assets

Answer: B

Explanation:
Asset Management is inherently value-focused. Its core purpose isto deliver valuethrough assets in alignment with organizational goals. This value is not simply financial-it includes social, environmental, and performance considerations.
* Option Ais correct because value creation is the core tenet.
* Option B(waste elimination) is more aligned with Lean thinking than AM itself.
* Option CandDmisrepresent the concept; value is not based on assets alone, but how assets are managed to generate value.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.4.1 - Principle 1: Value:
"Assets exist to provide value. Asset management does not focus on the assets themselves, but on the value that assets can provide to the organization."

NEW QUESTION # 41
ISO 55001 defines seven sets of requirements for a management system for asset management,except...

A. Multi-level Planning for assets and asset management
B. Defining the Organisational Context
C. Controlling
D. Support for effective management

Answer: C

Explanation:
ISO 55001 outlinesseven requirements:
* Organizational context
* Leadership
* Planning
* Support
* Operation
* Performance evaluation
* Improvement
"Controlling" is not one of the defined system requirements.
Exact Extract from ISO 55001:2014 - Section Headings:
"The standard specifies requirements under seven core sections: Context, Leadership, Planning, Support, Operation, Performance Evaluation, and Improvement."

NEW QUESTION # 42
Which of these statements is true:

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

Answer: C

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 # 43
What Is the Asset Life Cycle?

A. a project management system
B. a substitute for quality management
C. a strategic and analytical approach to the management of a business's assets.
D. All False

Answer: C

NEW QUESTION # 44
......

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IAM-Certificate New Braindumps - Reliable IAM-Certificate Test Sample

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IAM The Institute of Asset Management Certificate Sample Questions (Q39-Q44):

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