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IAM The Institute of Asset Management Certificate Sample Questions (Q94-Q99):

NEW QUESTION # 94
In conducting a demand analysis, there are several elements to consider:

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

Answer: B

NEW QUESTION # 95
Which of the following would you normally expect to include as key components of the Asset Management Strategy?

A. Improvement objectives, strategic risks and opportunities,statutory/environmental/financial constraints, asset forecasts
B. Risk registers, statutory/environmental/financial constraints, O&M manuals, detailed work plans
C. Strategic risks, constraints, O&M manuals, As-Built drawings
D. Improvement objectives, maintenance schedules, asset forecasts, As-Built drawings
E. Maintenance schedules, stakeholder lists, annual financial reports, asset forecasts

Answer: A

Explanation:
AnAsset Management Strategyshould link strategic goals to asset activities, addressing risks, constraints, future demands, and organizational improvements. Manuals and drawings belong more appropriately in asset management plans.
Exact Extract from ISO 55002:2018, Annex A - Asset Management Strategy Guidance:
"Should include: strategic objectives, long-term risks and opportunities, compliance constraints, demand forecasts."

NEW QUESTION # 96
The purpose of an Asset Information Strategy is to:

A. Calculating the lowest cost options for the entire commercial life of a building
B. Collate the standards which define the collection, storage and use of asset information
C. Specify the requirements for procuring the organisation's asset information system
D. Provide the overall framework and plan for asset information which will deliver the organisation's asset information requirements

Answer: D

Explanation:
TheAsset Information Strategydefines how asset data is governed, managed, and utilized across its lifecycle.
It supports quality, accessibility, and traceability of information.
Exact Extract from IAM - Asset Information Strategy:
"The strategy provides the plan and framework that supports the effective management and use of asset information aligned to asset management objectives."

NEW QUESTION # 97
Which of the following is most likely to reduce a company's income?

A. Interest rates
B. Capital investment in new assets
C. Poor asset condition
D. Ageing assets
E. Increased number of asset failures that affect service levels

Answer: E

Explanation:
Frequent asset failures result indisruption, penalties, customer dissatisfaction, andlost revenue. This has a direct impact on incomemore than long-term financial or condition-based issues.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 2.2 - Business Impact of AM:
"Poor reliability or failure of assets directly affects service levels and revenues, leading to reputational and financial consequences."

NEW QUESTION # 98
Which of the following is typically NOT a capital investment?

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

Answer: A

Explanation:
Capital investmentrefers to spending on assets that will deliver value over the long term, typically involving creation, acquisition, renewal, or enhancementof assets.Safety inspections, however, are anoperational expense (Opex)and part of regular maintenance and compliance activities.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.3 - Capital Investment Decision-Making:
"Capital investment includes asset creation, acquisition, or major renewal. Routine inspections and maintenance activities are operational expenditures."

NEW QUESTION # 99
......

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IAM IAM-Certificate Reliable Practice Materials & Test IAM-Certificate Answers

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IAM The Institute of Asset Management Certificate Sample Questions (Q94-Q99):

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