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[General] IAM-Certificate Practice Exam Questions & Valid IAM-Certificate Exam Simulat

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【General】 IAM-Certificate Practice Exam Questions & Valid IAM-Certificate Exam Simulat

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IAM The Institute of Asset Management Certificate Sample Questions (Q56-Q61):NEW QUESTION # 56
A key role of asset management is to assure the delivery of value, in line with, except :
  • A. Required residual risk profile
  • B. Company Profile
  • C. agreed performance / levels of service
  • D. Return on Investment (ROI) and/or Return on Net Assets (RONA
Answer: B

NEW QUESTION # 57
In conducting a demand analysis, there are several elements to consider:
  • A. Historical demand
  • B. All above true
  • C. Drivers for demand and the change in demand over time
  • D. Changes in required levels of service and/or products
Answer: B

NEW QUESTION # 58
The contents of an asset management policy can include:
  • A. Mandated requirements, AM principles, roles and responsibilities, strategy framework, and commitment to continuous improvement
  • B. Mandated requirements, roles and responsibilities, AM principles, strategy framework, and AMP details
  • C. The mandated requirements, roles and responsibilities, key departments, framework for strategy, and review frequency
  • D. Mandated requirements, AM principles, roles and responsibilities, key risks, and review frequency
  • E. The requirements of key stakeholders, roles and responsibilities, AM principles, framework for strategy and objectives, and review frequency
Answer: A
Explanation:
Option D covers all key elements described in ISO 55001: compliance, alignment, clarity of roles, continuous improvement, and a basis for strategic and tactical planning.
Exact Extract from ISO 55001:2014, Clause 5.2:
"The policy should include: appropriateness, commitment to compliance and improvement, framework for setting objectives, and alignment with strategy."

NEW QUESTION # 59
What is the correct top-down hierarchy order for the following PAS 55 defined documents?
  • A. Asset Management Policy, Plans, Strategy and Objectives
  • B. Asset Management Strategy, Policy, Objectives and Plans
  • C. Asset Management Policy, Strategy, Objectives and Plans
  • D. Asset Management Policy, Objectives, Strategy and Plans
Answer: C

NEW QUESTION # 60
Two widely used approaches to conceptualising value in an organisation are:
  • A. The Value Net and Delivery
  • B. The Value Stream and Delivery
  • C. The Value Net and Chain
  • D. The Value Stream and Chain
Answer: D
Explanation:
Organizations often use theValue StreamandValue Chainmodels to understand and maximize how value is created and delivered across asset-related activities:
* TheValue Chainfocuses on high-level stages in business processes.
* TheValue Streamprovides a more detailed view of flow through specific processes, identifying non- value-adding steps.
These models support performance optimization, resource allocation, and investment planning in asset- intensive environments.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 2.1 - Value in Asset Management:
"Value Stream and Value Chain models are common frameworks to analyze how value is created, delivered, and sustained in asset management systems."

NEW QUESTION # 61
......
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