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IAM The Institute of Asset Management Certificate Sample Questions (Q60-Q65):
NEW QUESTION # 60
Which are included in the asset life cycle :
- A. Acquire - Corporate- Operate - Dispose
- B. Acquire - Commission - Operate - Dispose
- C. Acquire - Commission - Performance- Dispose
- D. Acquire - Commission - Operate - Diaspora
Answer: B
NEW QUESTION # 61
Investment proposals should align with the delivery of...
- A. Strategic Objectives
- B. The CEO's personal objectives
- C. Key Performance Indicators
- D. Departmental Objectives
- E. Company Values
Answer: A
Explanation:
All investment decisions in asset management shouldclearly support strategic objectivesto ensure value alignment, budget justification, and long-term relevance.
Exact Extract from ISO 55001:2014, Clause 6.2 - AM Objectives and Planning:
"Asset management objectives and investment plans must align with the organization's strategic objectives."
NEW QUESTION # 62
What Is the Asset Life Cycle?
- A. a strategic and analytical approach to the management of a business's assets.
- B. a project management system
- C. All False
- D. a substitute for quality management
Answer: A
NEW QUESTION # 63
Who should demonstrate leadership in ensuring adequate, periodic review of the suitability, adequacy and effectiveness of the Asset Management System?
- A. An Independent Auditor
- B. The Top Management Team
- C. The Senior Engineer
- D. The Board Audit Committee
- E. The Head of Asset Management
Answer: B
Explanation:
ISO 55001 requires top managementto regularly evaluate the asset management system's effectiveness.
Leadership and review responsibilitiescannot be delegated externally.
Exact Extract from ISO 55001:2014, Clause 9.3 - Management Review:
"Top management shall review the organization's asset management system at planned intervals to ensure its continuing suitability, adequacy and effectiveness."
NEW QUESTION # 64
Based on ISO 55000 regarding asset management system, which of the following statements is false!
- A. Is not a software
- B. Is application agnostic
- C. Provides a documented foundation for the asset management operation
- D. Is a regulation to help the organization
Answer: D
NEW QUESTION # 65
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