IAM-CERTIFICATE LATEST DUMPS QUESTIONS - IAM-CERTIFICATE LATEST MOCK TEST

IAM-Certificate Latest Dumps Questions - IAM-Certificate Latest Mock Test

IAM-Certificate Latest Dumps Questions - IAM-Certificate Latest Mock Test

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2025 High-quality IAM-Certificate: The Institute of Asset Management Certificate Latest Dumps Questions

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IAM The Institute of Asset Management Certificate Sample Questions (Q29-Q34):

NEW QUESTION # 29
The following things are taken into consideration in developing an asset management strategy,except:

  • A. Consistency
  • B. Life cycle approach
  • C. Asset requirements
  • D. Management needs

Answer: D

Explanation:
When developing anasset management strategy, key elements include:
* Consistencywith the organizational context and policy.
* Alife cycle approach, covering all asset phases.
* Clear understanding ofasset requirementsto meet future demand and performance expectations.
Management needs, while important for operational support, are not a core component of strategic development and are therefore the correct exclusion.
Exact Extract from ISO 55001:2014, Clause 6.2 - Asset Management Objectives and Planning:
"The strategy must consider the asset lifecycle, ensure consistency with organizational objectives, and define asset requirements."


NEW QUESTION # 30
Which of these statements is true:

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

Answer: A

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 # 31
In what year did the term "asset management" start to be used?

  • A. 0
  • B. 1
  • C. 2
  • D. 3

Answer: A

Explanation:
The term "asset management" began emerging formally in theearly 1980s, particularly within infrastructure sectors. The IAM recognizes 1980 as the foundational point when structured approaches began to evolve around lifecycle and value-centric practices.
Reference from IAM historical insights:
"The structured use of the term 'asset management' began in the 1980s, focusing initially on infrastructure and utility sectors before becoming more universally adopted." (Source: IAM Historical Overview, Introduction to Asset Management)


NEW QUESTION # 32
Asset Management is important because it can help organisations to,except.....?

  • A. Reduce the capital costs of investing in the asset base
  • B. Minimize the environmental impact of operating the assets
  • C. Increase the potential health impacts of operating the assets
  • D. Improve the regulatory performance of the organisation

Answer: C

Explanation:
Comprehensive and Detailed in Depth Explanation along with Exact Extract from IAM's five subject areas:
Asset Management promotes safer, more efficient, and more sustainable operations. Increasing negative health impacts contradicts IAM goals.
* Option Ais valid-effective asset management reduces CAPEX through optimized planning.
* Option Caligns with environmental sustainability principles.
* Option Drefers to compliance, a key governance and risk management objective.
Extract from IAM Document - Asset Management: An Anatomy (v4):
"It enables organizations to manage risk, improve safety and reliability, reduce costs, and enhance environmental and regulatory compliance." (Section 2.2 - The Benefits of Asset Management)


NEW QUESTION # 33
What is an Asset Management System as defined by PAS 55?

  • A. The management system which organises and drives all asset management activities
  • B. The asset information technology system used for collating and analysing asset data
  • C. The asset system which organises all data management activities
  • D. The system by which organisations can manage and influence stakeholder requirements

Answer: A


NEW QUESTION # 34
......

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