ACE YOUR EXAM PREPARATION WITH VCE4PLUS IAM-CERTIFICATE PRACTICE TEST

Ace Your Exam Preparation with VCE4Plus IAM-Certificate Practice Test

Ace Your Exam Preparation with VCE4Plus IAM-Certificate Practice Test

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IAM The Institute of Asset Management Certificate Sample Questions (Q62-Q67):

NEW QUESTION # 62
The comparison between Lean and Asset Management, are ......

  • A. All about Asset, People, System
  • B. All about Security System
  • C. All about Value, Risk, Maintenance
  • D. All about Purpose, Process, People

Answer: D


NEW QUESTION # 63
Asset Management is explicitly focused on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

  • A. True
  • B. False

Answer: A

Explanation:
Comprehensive and Detailed in Depth Explanation along with Exact Extract from IAM's five subject areas:
This statement reflects the fundamental definition of asset management. The discipline isgoal-oriented and ensures that activities across the asset lifecycle are aligned to the organization's objectives.
Extract from IAM Document - Asset Management: An Anatomy (v4):
"Asset management is the coordinated activity of an organization to realize value from assets in support of its organizational objectives." (Section 1.1 - Definition of Asset Management)


NEW QUESTION # 64
According to ISO 55000, assets are .....

  • A. Item, thing or entity that has potential or actual value to an organization
  • B. Processed, organized and structured data
  • C. A type of investment that represents an ownership share in a company
  • D. Refers to all the materials available in our environment

Answer: A

Explanation:
ISO 55000 provides a clear and inclusive definition of anassetthat moves beyond the traditional financial concept. It includesanything that can deliver valueto an organization, either now or in the future. This may be physical, intangible, or financial.
* Arefers to equity investments-not the scope of ISO 55000.
* BandDare unrelated to asset management as defined in this standard.
* Cmatches the ISO definition verbatim.
Exact Extract from ISO 55000:2014, Clause 3.2.1 - Definition of Asset:
"An asset is an item, thing or entity that has potential or actual value to an organization."


NEW QUESTION # 65
There are 4 fundamentals in asset management, including ....

  • A. Value, Alignment, Leadership and Insurance
  • B. Value, Alignment, Proggresive and Assurance
  • C. Value, Competitif, Leadership and Assurance
  • D. Value, Alignment, Leadership and Assurance

Answer: D

Explanation:
Thefour fundamentals of asset management, as defined by the Institute of Asset Management, are:
* Value- Assets exist to provide value.
* Alignment- Asset management should align with organizational goals.
* Leadership- Strong governance and direction are essential.
* Assurance- Monitoring and evaluating performance for confidence in delivery.
This framework enables a structured approach to managing assets in a way that supports strategic and operational effectiveness.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.2 - Fundamentals of Asset Management:
"The four fundamentals of asset management are: Value, Alignment, Leadership, and Assurance."


NEW QUESTION # 66
Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:

  • A. Scale and complexity of the asset portfolio
  • B. All above true
  • C. Volatility of the business environment
  • D. Asset systems criticality

Answer: B


NEW QUESTION # 67
......

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