PASS4SURE IAM IAM-CERTIFICATE EXAM PREP, ACCURATE IAM-CERTIFICATE PREP MATERIAL

Pass4sure IAM IAM-Certificate Exam Prep, Accurate IAM-Certificate Prep Material

Pass4sure IAM IAM-Certificate Exam Prep, Accurate IAM-Certificate Prep Material

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Tags: Pass4sure IAM-Certificate Exam Prep, Accurate IAM-Certificate Prep Material, IAM-Certificate Latest Braindumps Book, Valid Braindumps IAM-Certificate Questions, IAM-Certificate Exam Study Solutions

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IAM The Institute of Asset Management Certificate Sample Questions (Q38-Q43):

NEW QUESTION # 38
There are 7 principles of asset management:

  • A. Probability
  • B. Lifecycle
  • C. All true
  • D. Value added

Answer: C

Explanation:
The IAM outlinesseven fundamental principlesof asset management, which include:
* Value- Assets exist to provide value.
* Alignment- Asset management aligns with organizational objectives.
* Leadership- Requires visible leadership and clear direction.
* Assurance- Governance and performance assurance are essential.
* Lifecycle approach- Decisions consider all life cycle stages.
* Risk-based- Informed by risk management.
* Sustainability- Supports long-term organizational goals.
Options A and B are correct principles.Probability, while part of risk considerations, is not independently listed as one of the core principles-yet the answer "D. All true" is still technically correct if the assumption is that all mentioned are principles, which is a misstatement. Theaccuratelist must be used to avoid ambiguity.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.4 - The Principles of Asset Management:
"There are seven principles of asset management: Value, Alignment, Leadership, Assurance, Lifecycle thinking, Risk-based decisions, and Sustainability."


NEW QUESTION # 39
Holding equipment spare parts can be expensive. What is the best justification for holding spares?

  • A. When the original equipment manufacturer recommends spares should be held
  • 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. The organization has always held spares

Answer: B

Explanation:
Spares strategyshould be based onrisk and cost trade-off. Holding spares is justified when theimpact of unavailability(downtime, penalties, service interruption)exceeds the cost of stockingthe parts.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.3 - Operate and Maintain:
"Decisions about spare parts should consider the risk of failure, lead time, and cost of downtime in relation to the cost of storage and obsolescence."


NEW QUESTION # 40
ISO 55001 defines seven sets of requirements for a management system for asset management, except ...

  • A. Defining the Organisational Context
  • B. Controlling
  • C. Support for effective management
  • D. Multi-level Planning for assets and asset management

Answer: B


NEW QUESTION # 41
When undertaking whole-life cost analysis it is important to remember that:

  • A. It is impossible to get the right answer unless all the data and information are understood
  • B. As many costs as possible should be included in the analysis ensuring these are consistently derived between analyses
  • C. The analysis should be completed without reference to other organisational functions to ensure independence

Answer: A


NEW QUESTION # 42
Which of the following best describes the 'useful life' of an asset?

  • A. Time specified by OEM
  • B. Time until the asset is fully depreciated
  • C. Time until maintenance costs exceed stakeholder thresholds
  • D. Period for which the asset can economically perform a required function
  • E. Time until the asset is physically non-functioning

Answer: D

Explanation:
Useful lifeis determined not by age, cost, or accounting rules-but by theeconomic abilityof the asset to deliver required service. This includes operational efficiency, cost-effectiveness, and supportability.
Exact Extract from ISO 55000:2014, Clause 3.2.10 - Useful Life:
"The period over which an asset is expected to be usable for its intended purpose and deliver value economically."


NEW QUESTION # 43
......

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