[Dec 05, 2024] Latest Questions IAM-Certificate Guide to Prepare Free Practice Tests
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NEW QUESTION # 19
In conducting a demand analysis, there are several elements to consider:
- A. All above true
- B. Historical demand
- C. Drivers for demand and the change in demand over time
- D. Changes in required levels of service and/or products
Answer: A
NEW QUESTION # 20
Successful delivery of the asset management plan(s) relies on integration with other organisational plans in both the development and delivery phases
- A. True
- B. False
Answer: A
NEW QUESTION # 21
Value based on AM is ......
- A. Value creation.
- B. Waste elimination
- C. Value objective
- D. The Assets
Answer: D
NEW QUESTION # 22
A vital element underpinning successful asset management, are .....
- A. Consistent
- B. A-B-C True
- C. Optimal decision-making
- D. Competent
Answer: B
NEW QUESTION # 23
Which statement is INCORRECT?
- A. All above true
- B. The Asset Management Policy should be consistent and aligned with the corporate objectives and strategy
- C. The Asset Management Policy should be consistent and aligned with all other relevant organisational policies
- D. The Asset Management Policy should be derived from all other relevant organisational policies
Answer: D
NEW QUESTION # 24
What is the correct top-down hierarchy order for the following PAS 55 defined documents?
- A. Asset Management Policy, Plans, Strategy and Objectives
- B. Asset Management Strategy, Policy, Objectives and Plans
- C. Asset Management Policy, Strategy, Objectives and Plans
- D. Asset Management Policy, Objectives, Strategy and Plans
Answer: C
NEW QUESTION # 25
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
Answer: A
NEW QUESTION # 26
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. agreed performance / levels of service
- D. Return on Investment (ROI) and/or Return on Net Assets (RONA
Answer: A
NEW QUESTION # 27
Which of the following statements is true:
- A. Corporate objectives drive the activities within the Asset Management system
- B. Corporate objectives are derived from the Asset Management strategy
- C. Corporate objectives should be set by comparing the organisation's performance to its most closest associated peer
Answer: A
NEW QUESTION # 28
What are the main cost elements of a whole-life cost approach?
- A. Asset deterioration and reliability costs
- B. Installation, failure and refurbishment costs
- C. Installation, maintenance and operations, and disposal costs
- D. maintenance, associated financing costs refurbishment, and disposal costs
Answer: C
NEW QUESTION # 29
External stakeholders can influence asset management activities within an organisation by:
- A. Defining the renewal and maintenance policies which govern the creation of the asset management plan
- B. Having the power of veto over what the organisation does
- C. Influencing the Organisational Strategic Plan through structured engagement
Answer: C
NEW QUESTION # 30
What is PAS 55?
- A. A BSI Previously Available Specification for the optimized management of financial assets
- B. A BSI Publically Available Specification for the optimized management of financial assets
- C. A BSI Previously Available Specification for the optimized management of physical assets
- D. A BSI Publically Available Specification for the optimized management of physical assets
Answer: D
NEW QUESTION # 31
There are many factors that can drive the decommissioning of assets, expect:
- A. cost of retaining in service
- B. compliance with changes in legislation
- C. excess of service capacity
- D. obsolete technology
Answer: B
NEW QUESTION # 32
Which of these is NOT a key principle of asset management?
- A. Applying a whole-life perspective
- B. All of above false
- C. Reducing the costs of investments
- D. Linking decisions to the overall business objectives
Answer: C
NEW QUESTION # 33
What is an Asset Management System as defined by PAS 55?
- A. The asset system which organises all data management activities
- B. The management system which organises and drives all asset management activities
- C. The asset information technology system used for collating and analysing asset data
- D. The system by which organisations can manage and influence stakeholder requirements
Answer: B
NEW QUESTION # 34
When undertaking whole-life cost analysis it is important to remember that:
- A. It is impossible to get the right answer unless all the data and information are understood
- B. As many costs as possible should be included in the analysis ensuring these are consistently derived between analyses
- C. The analysis should be completed without reference to other organisational functions to ensure independence
Answer: A
NEW QUESTION # 35
How many roles are there in the IAM Competences Framework?
- A. Five
- B. Seven
- C. Three
- D. Six
Answer: B
NEW QUESTION # 36
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