Simulate the real exam

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IAM The Institute of Asset Management Certificate Sample Questions:

1. Which of the following is the LEAST important factor when considering the decommissioning of assets?

A) Obsolescence and lack of spare parts
B) Reduction in demand
C) New technology in the market place
D) Changes to legislation
E) Changes in performance levels to deliver the objectives for the organization

2. ISO 55001 defines seven sets of requirements for a management system for asset management,except...

A) Multi-level Planning for assets and asset management
B) Support for effective management
C) Defining the Organisational Context
D) Controlling

3. How is risk best quantified within an ISO 55001 compliant Asset Management System?

A) Risk is quantified as a product of asset criticality and unavailability
B) Risk is quantified by defining boundaries of acceptable risk
C) Risk identification processes quantify risk
D) It is not possible to quantify risk
E) Risk is quantified by multiplying event probability by event consequences

4. Which of the following statements isnota management asset?

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

5. To successfully establish, operate and improve asset management within an organisation, it is essential that leadership, and commitment, is demonstrated by all levels of management - from senior executives to supervisors.

A) True
B) False

Solutions: