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IAM The Institute of Asset Management Certificate Sample Questions (Q19-Q24):

NEW QUESTION # 19
A key role of asset management is to assure the delivery of value in line with:

A. Agreed performance / levels of service
B. Return on Investment (ROI) and/or Return on Net Assets (RONA.
C. Required residual risk profile
D. All True

Answer: D

NEW QUESTION # 20
External stakeholders can influence asset management activities within an organisation by:

A. Having the power of veto over what the organisation does
B. Defining the renewal and maintenance policies which govern the creation of the asset management plan
C. Influencing the Organisational Strategic Plan through structured engagement

Answer: C

NEW QUESTION # 21
What are the main cost elements of a whole-life cost approach?

A. Installation, maintenance and operations, and disposal costs
B. maintenance, associated financing costs refurbishment, and disposal costs
C. Installation, failure and refurbishment costs
D. Asset deterioration and reliability costs

Answer: A

NEW QUESTION # 22
ISO 55001 sets out requirements for an asset management policy which fall into five categories:

A. Consistency, A priori, Commitment, Balancing, Communication
B. Consistency, Appropriateness, Commitment, A framework, Communication
C. Consistency, Appropriateness, Maintenance, A framework, Communication
D. Consistency, A priori, Commitment, A framework, Communication

Answer: B

NEW QUESTION # 23
The concept of 'line of sight' means .....

A. Asset Manager involved in asset management
B. Top Management involved in asset management
C. Stake holders involved in asset management
D. everyone who touches or influences what happens to an asset is involved in asset management

Answer: D

NEW QUESTION # 24
......

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