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IAM The Institute of Asset Management Certificate Sample Questions:
1. Who should demonstrate leadership in ensuring adequate, periodic review of the suitability, adequacy and effectiveness of the Asset Management System?
A) The Top Management Team
B) The Board Audit Committee
C) An Independent Auditor
D) The Head of Asset Management
E) The Senior Engineer
2. In conducting a demand analysis, there are several elements to consider:
A) Drivers for demand and the change in demand over time
B) Changes in required levels of service and/or products
C) All above true
D) Historical demand
3. Holding equipment spare parts can be expensive. What is the best justification for holding spares?
A) The organization has always held spares
B) When cost of downtime or service losses exceeds cost of holding spares
C) When maintenance is outsourced to a maintainer who doesn't hold spares
D) The Maintenance Manager wants to hold spares
E) When the original equipment manufacturer recommends spares should be held
4. For investment, it is important that the risk management processes adequately identify, assess and manage asset-related risks:
A) That vary with time
B) That match investment periods
C) That are fixed in time
D) That do not consider time
E) That align with historic events
5. Which of these is NOT a key principle of asset management?
A) Linking decisions to the overall business objectives
B) Reducing the costs of investments
C) Applying a whole-life perspective
D) All of above false
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: B |
By Agnes
