FREE IAM-CERTIFICATE STUDY MATERIAL - RELIABLE IAM-CERTIFICATE PRACTICE QUESTIONS

Free IAM-Certificate Study Material - Reliable IAM-Certificate Practice Questions

Free IAM-Certificate Study Material - Reliable IAM-Certificate Practice Questions

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Tags: Free IAM-Certificate Study Material, Reliable IAM-Certificate Practice Questions, IAM-Certificate Exam Questions And Answers, New IAM-Certificate Mock Exam, IAM-Certificate Reliable Test Labs

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IAM The Institute of Asset Management Certificate Sample Questions (Q21-Q26):

NEW QUESTION # 21
ISO 55001 sets out requirements for an asset management policy which fall into five categories:

  • A. Consistency, Appropriateness, Commitment, A framework, Communication
  • B. Consistency, A priori, Commitment, A framework, Communication
  • C. Consistency, A priori, Commitment, Balancing, Communication
  • D. Consistency, Appropriateness, Maintenance, A framework, Communication

Answer: A

Explanation:
ISO 55001 specifies the key elements that must be addressed in an organization's asset management policy.
These include:
* Consistencywith the organizational strategic plan
* Appropriatenessto the size and nature of the organization
* Commitmentto continual improvement and compliance
* Frameworkfor setting asset management objectives
* Communicationof the policy throughout the organization
This combination ensures the policy aligns operational activities with strategic outcomes.
Exact Extract from ISO 55001:2014, Clause 5.2 - Asset Management Policy:
"The asset management policy shall:
a) be consistent with the organizational strategic plan;
b) be appropriate to the nature and scale of the organization's assets; c) include a commitment to satisfy applicable legal requirements and continual improvement; d) provide a framework for setting asset management objectives; e) be communicated within the organization."


NEW QUESTION # 22
Investment proposals should align with the delivery of...

  • A. Key Performance Indicators
  • B. The CEO's personal objectives
  • C. Strategic Objectives
  • D. Departmental Objectives
  • E. Company Values

Answer: C

Explanation:
All investment decisions in asset management shouldclearly support strategic objectivesto ensure value alignment, budget justification, and long-term relevance.
Exact Extract from ISO 55001:2014, Clause 6.2 - AM Objectives and Planning:
"Asset management objectives and investment plans must align with the organization's strategic objectives."


NEW QUESTION # 23
Which of the following statements is true !

  • A. Strategic planning is usually undertaken as part of the overall organisational management
  • B. Strategic planning is describes how the organisation will develop and improve its asset management capabilities
  • C. Strategic planning is the process for establishing asset management objectives and developing the asset management strategy
  • D. Strategic planning explicitly considers the life cycle of the assets and the interdependencies between each of the life cycle stages

Answer: C


NEW QUESTION # 24
How many elements does the IAM Asset Management Conceptual Model contain?

  • A. Seven
  • B. Four
  • C. Six
  • D. Five

Answer: B


NEW QUESTION # 25
Value based on AM is ......

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

Answer: D


NEW QUESTION # 26
......

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