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IAM IAM-Certificate Exam Syllabus Topics:

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

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IAM The Institute of Asset Management Certificate Sample Questions (Q37-Q42):

NEW QUESTION # 37
According to ISO 55000, assets is .....

A. Processed, organized and structured data
B. Item, thing or entity that has potential or actual value to an organization.
C. A type of investment that represents an ownership share in a company
D. Refers to all the materials available in our environment

Answer: B

NEW QUESTION # 38
For investment, it is important that the risk management processes adequately identify, assess and manage asset-related risks:

A. That align with historic events
B. That do not consider time
C. That vary with time
D. That are fixed in time
E. That match investment periods

Answer: C

Explanation:
Asset-related risks evolve over time, due to condition changes, usage patterns, environmental factors, and technological obsolescence. Therefore, risk assessments must account fordynamic, time-varying risk profiles
, especially in investment planning and forecasting.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5.2 - Risk-Based Decision- Making:
"Risks are not static. Their likelihood and consequence change over time and should be continuously assessed in line with asset lifecycle and investment horizons."

NEW QUESTION # 39
Based on ISO 55000 regarding asset management system, which of the following statements is false!

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

Answer: B

NEW QUESTION # 40
For investment, it is important that the risk management processes adequately identify, assess and manage asset-related risks:

A. That align with historic events
B. That do not consider time
C. That vary with time
D. That are fixed in time
E. That match investment periods

Answer: C

Explanation:
Asset-related risks evolve over time , due to condition changes, usage patterns, environmental factors, and technological obsolescence. Therefore, risk assessments must account for dynamic, time-varying risk profiles , especially in investment planning and forecasting.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5.2 - Risk-Based Decision- Making:
"Risks are not static. Their likelihood and consequence change over time and should be continuously assessed in line with asset lifecycle and investment horizons."

NEW QUESTION # 41
Which of the following is best described as an Asset Management Objective?

A. Risk-based maintenance will deliver an improvement in the failure rate of assets of 10% for no increase in cost by September 2011
B. A risk-based approach to renewal and maintenance will be adopted
C. Risk-based maintenance will be introduced at Depot A in September 2011 with the following work volumes
D. Risk based provide direction for Asset and Non-Asset Class Plannin

Answer: B

NEW QUESTION # 42
......

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