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IAM The Institute of Asset Management Certificate Sample Questions (Q37-Q42):
NEW QUESTION # 37
A vital element underpinning successful asset management, are .....
- A. Competent
- B. A-B-C True
- C. Optimal decision-making
- D. Consistent
Answer: B
Explanation:
All listed elements are essential:
* Competencyensures individuals and teams possess the required knowledge and skills.
* Consistencyin applying standards and procedures ensures repeatable and reliable outcomes.
* Optimal decision-makingbalances cost, risk, and performance to deliver best value.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 5.1 - Asset Management Capabilities:
"Capability in asset management comes from consistent systems, competent people, and informed, optimized decision-making."
NEW QUESTION # 38
What is the correct top-down hierarchy order for the following PAS 55 defined documents?
- A. Asset Management Strategy, Policy, Objectives and Plans
- B. Asset Management Policy, Objectives, Strategy and Plans
- C. Asset Management Policy, Plans, Strategy and Objectives
- D. Asset Management Policy, Strategy, Objectives and Plans
Answer: D
NEW QUESTION # 39
The objectives that the organization wants to achieve from its asset management activities, are ....
- A. the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole
- B. to describe an organisation's long-term approach to managing its assets
- C. A & B False
- D. A & B True
Answer: D
Explanation:
Asset management objectives capture bothstrategic intentandperformance expectations. They serve as the basis for determining investment priorities, risk controls, and lifecycle decisions.
* Arefers to the long-term vision of asset management.
* Bspecifies measurable technical and functional requirements.Both are correct and together form the foundation of asset-centric organizational planning.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.1 - Asset Management Objectives:
"Asset management objectives describe what the organization aims to achieve from managing its assets, including both long-term direction and specific capability and performance outcomes."
NEW QUESTION # 40
What is NOT usually considered in the decision to decommission and dispose of assets?
- A. The environmental impact of disposing of the assets
- B. Legislation regarding disposal of the assets
- C. Alternative uses for the assets
- D. The depreciated value of the assets
- E. The residual value of assets
Answer: D
Explanation:
Depreciated valueis a financial accounting figure and is not a strong indicator of whether an asset should be decommissioned. Operational, legal, and environmental factors carry more weight.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.5 - Disposal:
"Factors include residual value, reuse options, legal compliance, and environmental impact. Financial book value is rarely a deciding factor."
NEW QUESTION # 41
Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:
- A. All above true
- B. Asset systems criticality
- C. Scale and complexity of the asset portfolio
- D. Volatility of the business environment
Answer: A
NEW QUESTION # 42
......
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