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IAM The Institute of Asset Management Certificate Sample Questions (Q64-Q69):

NEW QUESTION # 64
Which of the following statements is true:

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

Answer: B

NEW QUESTION # 65
Which of these statements is true:

A. Asset information should be guided by the relevance of the information to the asset management decisions that need to be made about the asset
B. Asset information requirements should be derived according to the requirements set out in the IT department's procurement specification
C. Asset information should be collected on all measurable aspects of an asset's function and performance

Answer: B

NEW QUESTION # 66
According to ISO 55000, assets are .....

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

Answer: B

Explanation:
ISO 55000 provides a clear and inclusive definition of anassetthat moves beyond the traditional financial concept. It includesanything that can deliver valueto an organization, either now or in the future. This may be physical, intangible, or financial.
* Arefers to equity investments-not the scope of ISO 55000.
* BandDare unrelated to asset management as defined in this standard.
* Cmatches the ISO definition verbatim.
Exact Extract from ISO 55000:2014, Clause 3.2.1 - Definition of Asset:
"An asset is an item, thing or entity that has potential or actual value to an organization."

NEW QUESTION # 67
Capital Investment Decision-Making comprises the processes to .....

A. All false
B. Decreasing the capability of assets
C. Evaluate and analyse options for the creation of new assets
D. The replacement of modal at the end of their useful life

Answer: C

Explanation:
Capital Investment Decision-Making is a structured process that evaluatesinvestment options, typically considering total lifecycle cost, business value, and risk. While asset replacement may be a consequence, the broader goal is optimization of value creation through new asset deployment.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.3 - Capital Investment Decision-Making:
"This includes identification, evaluation, and prioritization of investment options to create, upgrade or renew assets in alignment with organizational objectives."

NEW QUESTION # 68
External stakeholders can influence asset management activities within an organisation by:

A. Influencing the Organisational Strategic Plan through structured engagement
B. Defining the renewal and maintenance policies which govern the creation of the asset management plan
C. Having the power of veto over what the organisation does

Answer: A

NEW QUESTION # 69
......

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