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IAM The Institute of Asset Management Certificate Sample Questions (Q93-Q98):

NEW QUESTION # 93
In what year did the term "asset management" start to be used!

A. 0
B. 1
C. 2
D. 3

Answer: C

NEW QUESTION # 94
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

Explanation:
Organizationalculturesignificantly impacts how asset management systems are implemented and sustained.
Engagement, collaboration, and shared values influence decision-making, risk tolerance, and accountability.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 5.2 - Organizational Culture:
"Organizational culture defines how people behave within asset management systems. It is essential for effective delivery of policy and strategic intent."

NEW QUESTION # 95
Which of the following statements is not a management asset?

A. a recognition that assets have a life cycle
B. a substitute for quality management
C. an approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders
D. understanding and managing the risk associated with owning assets

Answer: B

NEW QUESTION # 96
ISO 55000 is ......

A. The international reference standard that provides the overview of information security management systems
B. The international reference standard to sets out the criteria for a quality management system
C. The international reference standard to sets out the criteria for an environmental management system
D. The international reference standard for the optimal management of physical assets.

Answer: D

Explanation:
ISO 55000 is a part of the ISO 55000 series (including ISO 55001 and ISO 55002), which serves as the international standard for asset management. It outlines the principles, terminology, and benefits of implementing an asset management system. It is not related to quality, environmental, or information security management systems, which are governed by ISO 9001, ISO 14001, and ISO 27001 respectively.
Exact Extract from ISO 55000 - Asset Management - Overview, Principles and Terminology:
"This International Standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management." (ISO 55000:2014, Clause 1 - Scope)

NEW QUESTION # 97
The objectives that the organization wants to achieve from its asset management activities, are ....

A. the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole
B. A&B False
C. to describes an organisation's long-term approach to managing its assets.
D. A&B True

Answer: D

NEW QUESTION # 98
......

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Carl Rogers Carl Rogers

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