Free IAM IAM-Certificate Exam Questions

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

Page: 1 / 25

Total 123 Questions | Updated On: Jun 15, 2026

Add To Cart

Question 1

Where would you expect an organisation to set out its intentions with regard to delivering a sustainable capital investment plan?

A : Strategic Asset Management Plan (SAMP)

B : Asset management communications plan

C : Asset management audit reports

D : Sustainability statements

E : Sustainability benchmarks

Answer: A

Question 2

Which of the following best describes the 'useful life' of an asset?

A : The period of time until maintenance costs of an asset are exceeding boundaries specified by stakeholders

B : The period of time until an asset is physically non-functioning

C : The number of years until an asset is fully depreciated and has reached an economic value of 'zero' in the asset register

D : The amount of time specified by the original equipment manufacturer

E : The period of time for which the asset can economically perform a required function

Answer: E

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

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 / 25

Total 123 Questions | Updated On: Jun 15, 2026

Add To Cart