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IAM IAM-Certificate Exam Syllabus Topics:

Section	Objectives
Topic 1: Asset Management Strategy and Planning	- Organizational Objectives and Alignment - Asset Management Planning and Policy
Topic 2: Asset Management Fundamentals	- Value, Risk, and Cost Concepts - Introduction to Asset Management Principles
Topic 3: Asset Management Decision-Making	- Risk-Based Decision Processes - Lifecycle Costing and Optimization
Topic 4: Asset Lifecycle Management	- Disposal and Decommissioning - Operation, Maintenance, and Renewal - Asset Creation and Acquisition
Topic 5: Organizational Context and Improvement	- Asset Management Governance - Continuous Improvement and Performance Evaluation
Topic 6: Asset Information and Data Management	- Asset Information Systems - Data Quality and Governance

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IAM The Institute of Asset Management Certificate Sample Questions (Q83-Q88):

NEW QUESTION # 83
Ignoring the time-based value of money, in Whole Life Cost Modelling, annualised costs are:

A. The sum of the costs in the Create, Operate, Maintain and Disposal phases
B. The sum of the maintenance and operating costs divided by the service life of the asset in years
C. The annual costs to operate and maintain the asset
D. The annual capital investment costs in the create and mid-life upgrade phases
E. The life cycle costs divided by the service life of the asset in years

Answer: E

Explanation:
Annualised cost is a financial technique used todistribute lifecycle costs evenly over the asset's useful life.
It provides a normalized basis for comparison of alternatives.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5.1 - Whole-Life Costing:
"Annualised lifecycle cost = Total lifecycle cost / Estimated service life. This method allows direct comparison between asset options with different expected lives."

NEW QUESTION # 84
Which of the following statements is true:

A. Corporate objectives drive the activities within the Asset Management system
B. Corporate objectives are derived from the Asset Management strategy
C. Corporate objectives should be set by comparing the organisation's performance to its most closest associated peer

Answer: A

NEW QUESTION # 85
Who should demonstrate leadership in ensuring adequate, periodic review of the suitability, adequacy and effectiveness of the Asset Management System?

A. The Head of Asset Management
B. The Top Management Team
C. An Independent Auditor
D. The Board Audit Committee
E. The Senior Engineer

Answer: B

Explanation:
ISO 55001 requires top managementto regularly evaluate the asset management system's effectiveness.
Leadership and review responsibilitiescannot be delegated externally.
Exact Extract from ISO 55001:2014, Clause 9.3 - Management Review:
"Top management shall review the organization's asset management system at planned intervals to ensure its continuing suitability, adequacy and effectiveness."

NEW QUESTION # 86
This covers everything the goes into planning, designing and procuring an asset.

A. Acquire
B. Operate
C. Dispose
D. Commission

Answer: A

NEW QUESTION # 87
Based on ISO 55000 regarding asset management system, which of the following statements is false!

A. Is not a software
B. Provides a documented foundation for the asset management operation
C. Is application agnostic
D. Is a regulation to help the organization

Answer: D

NEW QUESTION # 88
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