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IAM The Institute of Asset Management Certificate Sample Questions (Q82-Q87):
NEW QUESTION # 82
What Is the Asset Life Cycle?
- A. All False
- B. a strategic and analytical approach to the management of a business's assets.
- C. a substitute for quality management
- D. a project management system
Answer: B
NEW QUESTION # 83
In conducting a demand analysis, there are several elements to consider:
- A. All above true
- B. Changes in required levels of service and/or products
- C. Drivers for demand and the change in demand over time
- D. Historical demand
Answer: A
NEW QUESTION # 84
According to ISO 55000, assets is .....
- A. A type of investment that represents an ownership share in a company
- B. Refers to all the materials available in our environment
- C. Item, thing or entity that has potential or actual value to an organization.
- D. Processed, organized and structured data
Answer: C
NEW QUESTION # 85
Which of the following is the LEAST important factor when considering the decommissioning of assets?
- A. Obsolescence and lack of spare parts
- B. Reduction in demand
- C. New technology in the market place
- D. Changes to legislation
- E. Changes in performance levels to deliver the objectives for the organization
Answer: E
Explanation:
While performance degradation is important, it is typicallymanaged operationally.Obsolescence, legal requirements, and demand changesare more critical decommissioning drivers due to their irreversible or non-negotiable nature.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.5 - Disposal:
"Key triggers for asset disposal include: obsolescence, unavailability of parts, legislative change, and declining demand."
NEW QUESTION # 86
IAM-based decisions produce real savings, where savings develop from,except......
- A. Cost Avoidance
- B. Cost Effectiveness
- C. Efficiency gains
- D. Compliment asset
Answer: D
Explanation:
IAM-compliant practices help generate organizational savings by improving efficiency, reducing unnecessary costs, and enabling cost-effective decision-making. These outcomes are typically derived from structured planning and lifecycle optimization.
* Efficiency Gains: Streamlining processes to use fewer resources.
* Cost Avoidance: Proactively preventing unnecessary expenditure through better decisions.
* Cost Effectiveness: Choosing actions that yield the best return on investment.
Compliment Assetis not a relevant financial or asset management term-it appears to be a typographical or conceptual error and is therefore the correct answer to identify as invalid.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 2.2 - The Benefits of Asset Management:
"Benefits include cost reduction, efficiency gains, increased asset performance, and risk-informed cost avoidance."
NEW QUESTION # 87
......
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