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IAM The Institute of Asset Management Certificate Sample Questions (Q48-Q53):

NEW QUESTION # 48
The benefits of an asset management system are...

A. Formalizes asset management
B. Bring best practices into the organization
C. A-B-C are true
D. Establish roles and responsiblities

Answer: C

NEW QUESTION # 49
Asset Management is important because it can help organisations to, except .....?

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

Answer: A

NEW QUESTION # 50
Which of these statements is true:

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

Answer: C

NEW QUESTION # 51
Which of the following phrases describes best the key advantage of asset management over traditional approaches?

A. Asset management takes an optimised whole-life view of the work required on the asset portfolio to ensure current and future required levels of service are delivered
B. Asset management is primarily concerned with ensuring that resources are optimally used by putting into place effective planning regimes and processes to continually improve staff competence
C. Asset management ensures all asset interventions (for example maintenance or renewal intervals) are optimised with respect to risk

Answer: B

NEW QUESTION # 52
The comparison between Lean and Asset Management, are ......

A. All about Purpose, Process, People
B. All about Value, Risk, Maintenance
C. All about Security System
D. All about Asset, People, System

Answer: A

NEW QUESTION # 53
......

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