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: Jun 04, 2025

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Question 1

The objectives that the organization wants to achieve from its asset management activities, are ....

A : to describe an organisation’s long-term approach to managing its assets

B : the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole

C : A & B True

D : A & B False

Answer: C

Question 2

What is one of the most important elements of asset management?

A : Company profile

B : The control of management risk

C : The role of organisational culture

D : None of above

Answer: C

Question 3

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

Question 4

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 5

What is the most effective measure when determining the current health of your assets?

A : Condition assessment

B : Demand forecast

C : Maintenance reports

D : Asset age

E : Historical maintenance cost

Answer: A

Page: 1 / 19

Total 95 Questions | Updated On: Jun 04, 2025

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