FREE PDF 2025 IAM RELIABLE IAM-CERTIFICATE: THE INSTITUTE OF ASSET MANAGEMENT CERTIFICATE NEW REAL EXAM

Free PDF 2025 IAM Reliable IAM-Certificate: The Institute of Asset Management Certificate New Real Exam

Free PDF 2025 IAM Reliable IAM-Certificate: The Institute of Asset Management Certificate New Real Exam

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IAM The Institute of Asset Management Certificate Sample Questions (Q90-Q95):

NEW QUESTION # 90
The term optimizing describes:

  • A. The process of control the best value compromise between a set of competing factors, in order to support asset management decision-making
  • B. The process of review the best value compromise between a set of competing factors, in order to support asset management decision-making
  • C. The process of establishing the best value compromise between a set of competing factors, in order to support asset management decision-making
  • D. The process of Maintenance the best value compromise between a set of competing factors, in order to support asset management decision-making

Answer: C

Explanation:
Optimizingis a core concept in asset management. It refers to establishing a compromise between performance, cost, and risk-across the asset lifecycle. This balancing act is based on data-informed decision- making and scenario analysis.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5 - Decision-Making:
"Optimization is the process of determining the best value compromise between conflicting priorities such as cost, risk, and performance."


NEW QUESTION # 91
A key role of asset management is to assure the delivery of value, in line with,except:

  • A. Agreed performance / levels of service
  • B. Return on Investment (ROI) and/or Return on Net Assets (RONA)
  • C. Required residual risk profile
  • D. Company Profile

Answer: D

Explanation:
TheCompany Profileis a static representation and not a performance or risk-based metric. Asset management aims to deliver value through:
* Meeting service expectations
* Managing risk profiles
* Achieving financial performance measures
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 2.1 - Value:
"The value delivered by asset management is measured through outcomes such as levels of service, risk exposure, and financial returns."


NEW QUESTION # 92
What is an Asset Management System as defined by PAS 55?

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

Answer: A

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 # 93
A change of maintenance contractor for an operational system is being proposed. Which of the following processes should be applied?

  • A. Reliability Engineering Process
  • B. Contingency Planning Process
  • C. Change Request Process
  • D. Spares Provisioning Process
  • E. Maintenance Planning Process

Answer: C

Explanation:
AChange Request Processis required to formally evaluate and approve any change that could impact asset performance, risk, or compliance-such as outsourcing maintenance.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.6.2 - Change Management:
"Changes to asset-related systems, responsibilities, or service providers should follow formal change control processes to assess impact and ensure traceability."


NEW QUESTION # 94
What information is most likely to help in deciding whether to replace an asset rather than repair it?

  • A. Warranty period
  • B. Output of lifecycle cost analysis
  • C. Design life
  • D. Age of the asset
  • E. Up front capital cost

Answer: B

Explanation:
Lifecycle cost analysisprovides a complete financial picture of both options (repair vs. replace). It considers capital, operating, maintenance, and disposal costs-enabling informed decisions.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.5.1 - Lifecycle Costing:
"Lifecycle cost analysis enables decision-making based on total cost of ownership rather than isolated capital or operational expenditure."


NEW QUESTION # 95
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