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IAM The Institute of Asset Management Certificate Sample Questions (Q84-Q89):

NEW QUESTION # 84
This covers everything the goes into planning, designing and procuring an asset.

A. Dispose
B. Operate
C. Acquire
D. Commission

Answer: C

NEW QUESTION # 85
Which of the following requirements would you expect to find included within an Asset Management Strategy?

A. Project handback to operations
B. Future demand
C. Asset data configuration
D. Asset register
E. Maintenance special tools

Answer: B

Explanation:
Future demandis essential in the strategy, influencing asset lifecycle plans, performance targets, and investment. The other options are implementation-level details, not strategic.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.2.1 - Demand Analysis in Strategy:
"Understanding future demand is essential for developing a resilient and aligned asset management strategy."

NEW QUESTION # 86
Effective asset management can enhance an organization's reputation and its ability to .......?

A. Meet its regulatory and statutory obligations
B. All true
C. Operate safely.
D. Reduce the cost of managing assets over their lives.

Answer: B

NEW QUESTION # 87
Which of these statements is UNTRUE?

A. Asset information is always worth collecting regardless of cost
B. Asset information has maintenance costs as well as collection costs
C. Asset information can be treated as an asset in its own right

Answer: A

Explanation:
Collectingall available asset datawithout consideration ofvalue, relevance, or costleads to waste and inefficiency. Asset data should bejustified by its use in decision-making.
Exact Extract from IAM - Asset Information: Strategy, Management and Governance:
"Information collection should be justified based on decision value. Over-collection can waste resources and impair decision-making clarity."

NEW QUESTION # 88
There are 4 fundamentals in asset management, including ....

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

Answer: B

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 # 89
......

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