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IAM IAM-Certificate Exam Syllabus Topics:

Section	Weight	Objectives
Asset Management Policy, Strategy & Planning	17%	- Tactical and operational planning - Policy development and alignment - Alignment with organizational goals - Strategic asset management plans
Assessing and Managing Asset Management Risks	17%	- Risk treatment and control - Risk identification, analysis and evaluation - Risk concepts and framework - Risk reporting and review
Managing Asset Life Cycle Decisions and Activities	17%	- Investment and replacement decisions - Life cycle stages and activities - Operation, maintenance and disposal - Performance monitoring and improvement
Finance and Business Impact	17%	- Budgeting and funding - Costs, benefits and value creation - Business continuity and impact assessment - Asset valuation and accounting
Principles of Asset Management	33%	- Concepts and definitions - Roles and responsibilities - ISO 55000 series overview - Value and objectives of asset management

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IAM The Institute of Asset Management Certificate Sample Questions (Q70-Q75):

NEW QUESTION # 70
Which of the following statements is true?

A. Visible senior level leadership and commitment is insignificant in organisations
B. Assurance is the combination of monitoring and auditing
C. Assets is not a potential value to an organisation
D. Good asset management has clear connectivity between an organisation's strategic plan and the value core

Answer: B

NEW QUESTION # 71
The purpose of an Asset Information Strategy is to:

A. Calculating the lowest cost options for the entire commercial life of a building
B. Collate the standards which define the collection, storage and use of asset information
C. Provide the overall framework and plan for asset information which will deliver the organisation's asset information requirements
D. Specify the requirements for procuring the organisation's asset information system

Answer: B

NEW QUESTION # 72
(Exposure to) the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility, is the definition of .......

A. Risk
B. Cost
C. Value
D. Asset

Answer: A

NEW QUESTION # 73
Asset Management is explicitly focussed on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

A. True
B. False

Answer: A

NEW QUESTION # 74
When assessing risks, which of the following is a valid statement?

A. Risks can be assessed by calculating the product of their probability and consequences
B. Risks can be assessed by calculating the product of their consequences and occurrence
C. Risks can be assessed by calculating the product of their Mean Time Between Failure and Mean Time To Repair
D. Risks can be assessed by calculating the product of their possibility and Mean Time Between Failure
E. Risks can be assessed by calculating the product of their probability and frequency

Answer: A

Explanation:
Again, the recognized method for risk evaluation aligns with ISO 31000 and ISO 55000:
Risk = Probability × Consequence
This is used across risk matrices, risk registers, and decision frameworks.
Exact Extract from IAM - Risk Management in Asset Management:
"The basic formula for quantifying risk is: Risk = Likelihood × Consequence."

NEW QUESTION # 75
......

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