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IAM The Institute of Asset Management Certificate Sample Questions (Q12-Q17):

NEW QUESTION # 12
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 # 13
Which of these statements is true:

A. Asset information should be guided by the relevance of the information to the assetmanagement 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: A

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 # 14
What is the correct top-down hierarchy order for the following PAS 55 defined documents?

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

Answer: D

NEW QUESTION # 15
Which of the following statements is true?

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

Answer: D

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 # 16
Which of these is NOT a key principle of asset management?

A. Linking decisions to the overall business objectives
B. Reducing the costs of investments
C. All of above false
D. Applying a whole-life perspective

Answer: B

NEW QUESTION # 17
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