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IAM IAM-Certificate Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Managing Asset Life Cycle Decisions and Activities	17%	- Lifecycle Management 1. Reliability and Performance 2. Disposal and Renewal 3. Asset Acquisition 4. Operations and Maintenance
Topic 2: Assessing and Managing Asset Management Risks	17%	- Risk Management 1. Compliance and Assurance 2. Criticality Analysis 3. Risk Assessment 4. Contingency Planning
Topic 3: Finance and Business Impact	17%	- Financial and Business Considerations 1. Business Value 2. Performance Measurement 3. Investment Planning 4. Whole Life Costing
Topic 4: Asset Management Policy, Strategy and Planning	17%	- Strategic Planning 1. Governance 2. Strategic Asset Management Plan 3. Objectives and Planning 4. Asset Management Policy
Topic 5: Principles of Asset Management	33%	- Asset Management Fundamentals 1. Asset Management Objectives 2. Value Realisation 3. Lifecycle Concepts 4. ISO 55000 Principles

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

NEW QUESTION # 83
What is the correct top-down hierarchy order for the following PAS 55 defined documents?

A. Asset Management Policy, Objectives, Strategy and Plans
B. Asset Management Policy, Strategy, Objectives and Plans
C. Asset Management Policy, Plans, Strategy and Objectives
D. Asset Management Strategy, Policy, Objectives and Plans

Answer: B

Explanation:
According toPAS 55 and ISO 55001, the hierarchy flows fromhigh-level principles and intent (policy)to detailed tactical execution (plans):
* Policy- Organizational intent and principles
* Strategy- Long-term approach for achieving objectives
* Objectives- Specific performance and capability targets
* Plans- Scheduled actions to meet objectives
Exact Extract from PAS 55-1:2008, Section 4.2.1:
"The asset management policy leads into the asset management strategy, from which objectives and corresponding plans are derived."

NEW QUESTION # 84
Asset Management is important because it can help organisations to, except .....?

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

Answer: B

NEW QUESTION # 85
Which of the following statements is true?

A. Strategic planning is usually undertaken as part of the overall organisational management
B. Strategic planning explicitly considers the life cycle of the assets and the interdependencies between each of the life cycle stages
C. Strategic planning is the process for establishing asset management objectives and developing the asset management strategy
D. Strategic planning is describes how the organisation will develop and improve its asset management capabilities

Answer: C

Explanation:
Strategic asset management planningis the process of translating the organization's high-level objectives intotangible asset management strategiesand performance targets.
* Option Arefers to capability development (partially true but incomplete).
* Option Bis correct as per ISO 55001 and IAM guidance.
* Option Cis general and non-specific.
* Option Dis relevant, but more operational in scope.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.2 - Strategic Planning:
"Strategic planning links the organization's objectives to asset management objectives, setting out how the organization intends to manage its assets in alignment with these broader goals."

NEW QUESTION # 86
The benefits of an asset management system are...

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

Answer: D

NEW QUESTION # 87
ISO 55001 sets out requirements for an asset management policy which fall into five categories:

A. Consistency, A priori, Commitment, A framework, Communication
B. Consistency, Appropriateness, Commitment, A framework, Communication
C. Consistency, Appropriateness, Maintenance, A framework, Communication
D. Consistency, A priori, Commitment, Balancing, Communication

Answer: B

NEW QUESTION # 88
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