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IAM The Institute of Asset Management Certificate Sample Questions:

1. Which of the following is typically NOT a capital investment?

A) Asset creation
B) Asset renewal
C) Replacement assets
D) Safety inspections
E) Property acquisition

2. Which of the following phrases describes best the key advantage of asset management over traditional approaches?

A) Asset management is primarily concerned with ensuring that resources are optimally used by putting into place effective planning regimes and processes to continually improve staff competence
B) Asset management ensures all asset interventions (e.g., maintenance or renewal intervals) are optimised with respect to risk
C) Asset management takes an optimised whole-life view of the work required on the asset portfolio to ensure current and future required levels of service are delivered

3. A key role of asset management is to assure the delivery of value, in line with,except:

A) Company Profile
B) Required residual risk profile
C) Return on Investment (ROI) and/or Return on Net Assets (RONA)
D) Agreed performance / levels of service

4. Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:

A) Volatility of the business environment
B) Scale and complexity of the asset portfolio
C) All above true
D) Asset systems criticality

5. Which of the following statements isnota management asset?

A) An approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders
B) Understanding and managing the risk associated with owning assets
C) A substitute for quality management
D) A recognition that assets have a life cycle

Solutions: