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IAM IAM-Certificate Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Principles of Asset Management33%- Asset Management Fundamentals
  • 1. ISO 55000 Principles
  • 2. Asset Management Objectives
  • 3. Lifecycle Concepts
  • 4. Value Realisation
Topic 2: Managing Asset Life Cycle Decisions and Activities17%- Lifecycle Management
  • 1. Reliability and Performance
  • 2. Operations and Maintenance
  • 3. Disposal and Renewal
  • 4. Asset Acquisition
Topic 3: Assessing and Managing Asset Management Risks17%- Risk Management
  • 1. Compliance and Assurance
  • 2. Risk Assessment
  • 3. Criticality Analysis
  • 4. Contingency Planning
Topic 4: Finance and Business Impact17%- Financial and Business Considerations
  • 1. Business Value
  • 2. Whole Life Costing
  • 3. Investment Planning
  • 4. Performance Measurement
Topic 5: Asset Management Policy, Strategy and Planning17%- Strategic Planning
  • 1. Objectives and Planning
  • 2. Asset Management Policy
  • 3. Strategic Asset Management Plan
  • 4. Governance

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IAM The Institute of Asset Management Certificate Sample Questions (Q91-Q96):

NEW QUESTION # 91
What is the correct top-down hierarchy order for the following PAS 55 defined documents?

Answer: A


NEW QUESTION # 92
A vital element underpinning successful asset management, are .....

Answer: C

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 # 93
Where can a standardised Risk Matrix be found for use within Asset Management Systems aligned to the ISO
55000 series of standards?

Answer: B

Explanation:
The correct answer is B . There is no single standard risk matrix prescribed by the ISO 55000 series for all organizations. ISO 55002 guidance indicates that when addressing risk in asset management, the organization should determine its risk assessment criteria and decision-making criteria in light of stakeholder input, policy, and the organization's own risk attitude. That means the matrix, scales, and thresholds are organization-specific, not universal.
This is fully consistent with IAM/GFMAM practice, because asset management decisions are made within the organization's own context, objectives, risk tolerability, asset portfolio, and stakeholder requirements. A generic matrix found online may be useful as an example, but it is not an ISO 55000 standard matrix. Neither ISO 55002 nor the GFMAM Landscape provides a single mandatory matrix for all asset-management systems.


NEW QUESTION # 94
Which of the following is best described as an Asset Management Objective?

Answer: A


NEW QUESTION # 95
What is one of the most important elements of asset management ?

Answer: B


NEW QUESTION # 96
......

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