Free IAM IAM-Certificate Exam Questions

Become IAM Certified with updated IAM-Certificate exam questions and correct answers

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Total 95 Questions | Updated On: Apr 30, 2025

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Question 1

Assurance is the combination of monitoring and control (of processes and outcomes) to confirm the assets,systems and processes are operating as intended.

A : False

B : True

Answer: A

Question 2

IAM-based decisions produce real savings, where savings develop from,except......

A : Efficiency gains

B : Cost Avoidance

C : Compliment asset

D : Cost Effectiveness

Answer: C

Question 3

Which of the following would you normally expect to include as key components of the Asset ManagementStrategy?

A : Risk registers, statutory/environmental/financial constraints, O&M manuals, detailed work plans

B : Maintenance schedules, stakeholder lists, annual financial reports, asset forecasts

C : Improvement objectives, maintenance schedules, asset forecasts, As-Built drawings

D : Improvement objectives, strategic risks and opportunities,statutory/environmental/financial constraints, asset forecasts

E : Strategic risks, constraints, O&M manuals, As-Built drawings

Answer: D

Question 4

A public transportation company has a fleet of 150 trams. Type A (25 years old), Type B (19 years), Type C(2 years). Expected lifetime is 30 years. Type A and B perform sufficiently but suffer obsolescence and spareparts issues.What would be a feasible action now?

A : Prepare to phase out type A as they are near the end of life

B : Start an asset rationalisation study on type A (and maybe B) to determine the possible end-of-life options

C : Replace type A and B with 80 new type C trams to standardize fleet

D : Prepare an overhaul for type A and B

E : Modify type A and B to maintain service and solve obsolescence

Answer: B

Question 5

What is the purpose of the asset management policy?

A : To determine the asset management objectives including costs, risks and performance, aligned with the organisational objectives.

B : To set a framework of principles for translating the organisation's strategic objectives into asset management objectives and guiding development of the asset management strategy.

C : To describe the long-term approach to the management of physical assets and how organisational objectives are converted into asset management objectives.

D : To address the approach of the asset management organisation to realise the (strategic) asset management plans.

E : To balance the costs and benefits of different renewal maintenance overhaul and disposal interventions in support of the asset management objectives.

Answer: B

Page: 1 / 19

Total 95 Questions | Updated On: Apr 30, 2025

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