IAM-CERTIFICATE HIGH QUALITY & EXAM IAM-CERTIFICATE BOOTCAMP

IAM-Certificate High Quality & Exam IAM-Certificate Bootcamp

IAM-Certificate High Quality & Exam IAM-Certificate Bootcamp

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IAM The Institute of Asset Management Certificate Sample Questions (Q87-Q92):

NEW QUESTION # 87
ISO 55000 is ......

  • A. The international reference standard that provides the overview of information security management systems
  • B. The international reference standard for the optimal management of physical assets.
  • C. The international reference standard to sets out the criteria for a quality management system
  • D. The international reference standard to sets out the criteria for an environmental management system

Answer: B

Explanation:
ISO 55000 is a part of the ISO 55000 series (including ISO 55001 and ISO 55002), which serves as the international standard for asset management. It outlines the principles, terminology, and benefits of implementing an asset management system. It is not related to quality, environmental, or information security management systems, which are governed by ISO 9001, ISO 14001, and ISO 27001 respectively.
Exact Extract from ISO 55000 - Asset Management - Overview, Principles and Terminology:
"This International Standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management." (ISO 55000:2014, Clause 1 - Scope)


NEW QUESTION # 88
Which of the following is best described as an Asset Management Objective?

  • A. Risk-based maintenance will be introduced at Depot A in September 2011 with the following work volumes
  • B. A risk-based approach to renewal and maintenance will be adopted
  • C. Risk based provide direction for Asset and Non-Asset Class Plannin
  • D. Risk-based maintenance will deliver an improvement in the failure rate of assets of 10% for no increase in cost by September 2011

Answer: B


NEW QUESTION # 89
What is NOT usually considered in the decision to decommission and dispose of assets?

  • A. The residual value of assets
  • B. The depreciated value of the assets
  • C. Alternative uses for the assets
  • D. The environmental impact of disposing of the assets
  • E. Legislation regarding disposal of the assets

Answer: B

Explanation:
Depreciated valueis a financial accounting figure and is not a strong indicator of whether an asset should be decommissioned. Operational, legal, and environmental factors carry more weight.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.5 - Disposal:
"Factors include residual value, reuse options, legal compliance, and environmental impact. Financial book value is rarely a deciding factor."


NEW QUESTION # 90
A definition of asset management is:

  • A. The optimal life cycle management of physical assets to sustainably achieve the stated business objectives
  • B. The optimal maintenance an organisation undertakes on its assets
  • C. A clear understanding of the linkages between each stage in the asset lifecycle
  • D. A grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations

Answer: A

Explanation:
Thecorrect and widely accepted definition of asset management-particularly as defined by ISO 55000- is thecoordinated activityto realizevalue from assetsthroughlifecycle managementaligned with strategic goals.
Exact Extract from ISO 55000:2014, Clause 3.3.1 - Asset Management:
"The coordinated activity of an organization to realize value from assets."


NEW QUESTION # 91
Which of these statements is true:

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

Answer: B

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 # 92
......

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