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Posted on: 04/03/25

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IAM The Institute of Asset Management Certificate Sample Questions (Q38-Q43):

NEW QUESTION # 38
The purpose of an Asset Information Strategy is to:

  • A. Provide the overall framework and plan for asset information which will deliver the organisation's asset information requirements
  • B. Collate the standards which define the collection, storage and use of asset information
  • C. Calculating the lowest cost options for the entire commercial life of a building
  • D. Specify the requirements for procuring the organisation's asset information system

Answer: B


NEW QUESTION # 39
Value based on AM is ......

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

Answer: D


NEW QUESTION # 40
What is the purpose of whole-life cost analysis?

  • A. To determine the most important costs associated with an asset
  • B. To determine the renewal costs at the end of an asset's life
  • C. To determine the option for a particular decision which has the lowest costs over the life of the asset

Answer: C


NEW QUESTION # 41
According to ISO 55000, assets is .....

  • A. Processed, organized and structured data
  • B. Refers to all the materials available in our environment
  • C. A type of investment that represents an ownership share in a company
  • D. Item, thing or entity that has potential or actual value to an organization.

Answer: D


NEW QUESTION # 42
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 collected on all measurable aspects of an asset's function and performance
  • C. Asset information should be guided by the relevance of the information to the asset management decisions that need to be made about the asset

Answer: A


NEW QUESTION # 43
......

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