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Reference: https://theiam.org/professional-development/qualifications/iam-certificate/
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IAM The Institute of Asset Management Certificate Sample Questions:
Where would you expect an organisation to set out its intentions with regard to delivering a sustainable capital investment plan?
- A. Strategic Asset Management Plan (SAMP)
- B. Asset management audit reports
- C. Sustainability benchmarks
- D. Asset management communications plan
- E. Sustainability statements
Correct Answer: A 🗳️
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Holding equipment spare parts can be expensive. What is the best justification for holding spares?
- A. The organization has always held spares
- B. When the original equipment manufacturer recommends spares should be held
- C. When maintenance is outsourced to a maintainer who doesn't hold spares
- D. The Maintenance Manager wants to hold spares
- E. When cost of downtime or service losses exceeds cost of holding spares
Correct Answer: E 🗳️
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What information is most likely to help in deciding whether to replace an asset rather than repair it?
- A. Up front capital cost
- B. Design life
- C. Output of lifecycle cost analysis
- D. Warranty period
- E. Age of the asset
Correct Answer: C 🗳️
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There are 4 fundamentals in asset management, including ....
- A. Value, Alignment, Leadership and Assurance
- B. Value, Alignment, Proggresive and Assurance
- C. Value, Competitif, Leadership and Assurance
- D. Value, Alignment, Leadership and Insurance
Correct Answer: A 🗳️
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What is the correct top-down hierarchy order for the following PAS 55 defined documents?
- A. Asset Management Policy, Strategy, Objectives and Plans
- B. Asset Management Strategy, Policy, Objectives and Plans
- C. Asset Management Policy, Plans, Strategy and Objectives
- D. Asset Management Policy, Objectives, Strategy and Plans
Correct Answer: A 🗳️
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