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IAM IAM-Certificate Exam Syllabus Topics:

Section	Weight	Objectives
Asset Management Policy, Strategy and Planning	17%	- Strategic Planning 1. Asset Management Policy 2. Objectives and Planning 3. Governance 4. Strategic Asset Management Plan
Principles of Asset Management	33%	- Asset Management Fundamentals 1. Asset Management Objectives 2. ISO 55000 Principles 3. Lifecycle Concepts 4. Value Realisation
Managing Asset Life Cycle Decisions and Activities	17%	- Lifecycle Management 1. Asset Acquisition 2. Operations and Maintenance 3. Reliability and Performance 4. Disposal and Renewal
Assessing and Managing Asset Management Risks	17%	- Risk Management 1. Risk Assessment 2. Compliance and Assurance 3. Criticality Analysis 4. Contingency Planning
Finance and Business Impact	17%	- Financial and Business Considerations 1. Investment Planning 2. Whole Life Costing 3. Business Value 4. Performance Measurement

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IAM The Institute of Asset Management Certificate Sample Questions (Q17-Q22):

NEW QUESTION # 17
When developing a new Strategic Asset Management Plan, which of the following pieces of information will be most relevant?

A. Historic cost trends, demand forecasts, cost of capital
B. Availability of finance, demand forecasts, risk appetite
C. Availability of capital, service performance requirements, historic demand
D. Cost of capital, demand forecasts, competitor analysis
E. Availability of finance, demand forecasts, maintenance schedules

Answer: B

Explanation:
AStrategic Asset Management Plan (SAMP)aligns long-term organizational objectives with asset strategy.
Key inputs includeavailable financial resources,demand forecasts, and theorganization's risk appetite- which determines how aggressively or conservatively assets will be managed.
Exact Extract from ISO 55002:2018, Clause 5.1 - Strategic Planning:
"Inputs to the strategic asset management plan include: demand forecasts, financial constraints, and organizational risk management approach."

NEW QUESTION # 18
The asset management strategy will:

A. consider what customers will want and how to limit rate of change to what they need
B. consider how to discourage customers from increasing demand in the future
C. consider how previous customer requirements were assessed and what this tells us about the future
D. consider how to encourage customers to increase demand in the future
E. consider how and why current and future customer requirements are assessed

Answer: E

Explanation:
The correct answer is D . IAM's strategic planning guidance explains that strategic asset management planning includes how the organization addresses the outputs from demand analysis in order to establish asset management objectives and develop the asset management strategy. IAM's Demand Analysis guidance says organizations should understand, analyze, and forecast demand to support strategic planning activities .
That means the asset management strategy should consider how and why current and future customer requirements are assessed , not try to manipulate demand in a simplistic way or focus only on past requirements. The strategic issue is the method and rationale for assessing customer and demand requirements so that asset strategies can align with service outcomes.

NEW QUESTION # 19
ISO 55000 is ......

A. The international reference standard to sets out the criteria for a quality management system
B. The international reference standard to sets out the criteria for an environmental management system
C. The international reference standard for the optimal management of physical assets.
D. The international reference standard that provides the overview of information security management systems

Answer: C

Explanation:
ISO 55000 is a part of the ISO 55000 series (including ISO 55001 and ISO 55002), which serves as the international standard for asset management. It outlines the principles, terminology, and benefits of implementing an asset management system. It is not related to quality, environmental, or information security management systems, which are governed by ISO 9001, ISO 14001, and ISO 27001 respectively.
Exact Extract from ISO 55000 - Asset Management - Overview, Principles and Terminology:
"This International Standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management." (ISO 55000:2014, Clause 1 - Scope)

NEW QUESTION # 20
The comparison between Lean and Asset Management, are ......

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

Answer: C

NEW QUESTION # 21
A definition of asset management is:

A. The optimal life cycle management of physical assets to sustainably achieve the stated business objectives
B. A clear understanding of the linkages between each stage in the asset lifecycle
C. The optimal maintenance an organisation undertakes on its assets
D. A grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations

Answer: A

Explanation:
Thecorrect and widely accepted definition of asset management-particularly as defined by ISO 55000- is thecoordinated activityto realizevalue from assetsthroughlifecycle managementaligned with strategic goals.
Exact Extract from ISO 55000:2014, Clause 3.3.1 - Asset Management:
"The coordinated activity of an organization to realize value from assets."

NEW QUESTION # 22
......

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