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IAM The Institute of Asset Management Certificate Sample Questions (Q30-Q35):

NEW QUESTION # 30
What is an Asset Management System as defined by PAS 55?

A. The system by which organisations can manage and influence stakeholder requirements
B. The asset system which organises all data management activities
C. The management system which organises and drives all asset management activities
D. The asset information technology system used for collating and analysing asset data

Answer: C

Explanation:
TheAsset Management Systemrefers to themanagement frameworkof policies, processes, and tools that collectively enable the achievement of asset-related objectives-not just IT or data systems.
Exact Extract from PAS 55-1:2008, Clause 3.3.1:
"Asset management system: The integrated set of processes, plans, and tools that collectively define and drive the asset management activities within the organization."

NEW QUESTION # 31
Which of these statements is true:

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

Answer: A

NEW QUESTION # 32
There are many factors that can drive the decommissioning of assets, expect:

A. excess of service capacity
B. compliance with changes in legislation
C. obsolete technology
D. cost of retaining in service

Answer: B

NEW QUESTION # 33
In conducting a demand analysis, there are several elements to consider:

A. Historical demand
B. Drivers for demand and the change in demand over time
C. All above true
D. Changes in required levels of service and/or products

Answer: C

NEW QUESTION # 34
Which of the following statements is not a management asset?

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

Answer: D

NEW QUESTION # 35
......

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