IAM Certificate Practice Exam Questions
1. An Asset Management Policy defines: a) The principles that
a) The principles that should underpin an organiza- should underpin an orga-
tion's Asset Management approach nization's Asset Manage-
b) The Asset Management improvement objectives an ment approach
organization has defined
c) The work plan of Asset Management activities an
organization intends to undertake
d) The long-term time horizon that aligns Asset Man-
agement activities with the organizational strategic
plan
e) How Asset Management activities should shape the
organizational strategic plan
2. What is a good source of guidance for developing an d) ISO 55001
Asset Management Policy?
a) ISO 9001
b) The International Infrastructure Management Man-
ual
c) The organizational strategic plan
d) ISO 55001
e) The IAM Competences Framework
3. An Asset Management Strategy includes: e) The Asset Manage-
a) The principles an organization should follow in its ment improvement objec-
Asset Management approach tives an organization has
b) Details of how key external stakeholders are man- defined
aged by the business
c) The work plan of Asset Management activities an
organization intends to undertake
d) A detailed list of the assets that are deemed busi-
ness or safety critical
, IAM Certificate Practice Exam Questions
e) The Asset Management improvement objectives an
organization has defined
4. Which of the following best describes how an Asset c) It should cover all Asset
Management Strategy should be developed? Management activities but
a) It should treat all Asset Management activities focus on those the organi-
equally zation gives highest prior-
b) It should refer only to the most important Asset ity
Management activities
c) It should cover all Asset Management activities but
focus on those the organization gives highest priority
d) The strategy should describe what Asset Manage-
ment activities might be relevant to the organization
in future
e) The strategy should define origins of its Asset Man-
agement activities
5. Which type of document needs to have clear objectives d) Strategic Asset Man-
or targets, according to ISO 55001? agement Plan (SAMP or
a) Asset Management Policy Asset Management Strate-
b) Maintenance Schedule gy)
c) Work Orders
d) Strategic Asset Management Plan (SAMP or Asset
Management Strategy)
e) Annual Report
6. How is the hierarchy of Asset Management documents c) Line of Sight
in a best practice approach
typically described?
a) Equivalence
b) Joined up thinking
c) Line of Sight
1. An Asset Management Policy defines: a) The principles that
a) The principles that should underpin an organiza- should underpin an orga-
tion's Asset Management approach nization's Asset Manage-
b) The Asset Management improvement objectives an ment approach
organization has defined
c) The work plan of Asset Management activities an
organization intends to undertake
d) The long-term time horizon that aligns Asset Man-
agement activities with the organizational strategic
plan
e) How Asset Management activities should shape the
organizational strategic plan
2. What is a good source of guidance for developing an d) ISO 55001
Asset Management Policy?
a) ISO 9001
b) The International Infrastructure Management Man-
ual
c) The organizational strategic plan
d) ISO 55001
e) The IAM Competences Framework
3. An Asset Management Strategy includes: e) The Asset Manage-
a) The principles an organization should follow in its ment improvement objec-
Asset Management approach tives an organization has
b) Details of how key external stakeholders are man- defined
aged by the business
c) The work plan of Asset Management activities an
organization intends to undertake
d) A detailed list of the assets that are deemed busi-
ness or safety critical
, IAM Certificate Practice Exam Questions
e) The Asset Management improvement objectives an
organization has defined
4. Which of the following best describes how an Asset c) It should cover all Asset
Management Strategy should be developed? Management activities but
a) It should treat all Asset Management activities focus on those the organi-
equally zation gives highest prior-
b) It should refer only to the most important Asset ity
Management activities
c) It should cover all Asset Management activities but
focus on those the organization gives highest priority
d) The strategy should describe what Asset Manage-
ment activities might be relevant to the organization
in future
e) The strategy should define origins of its Asset Man-
agement activities
5. Which type of document needs to have clear objectives d) Strategic Asset Man-
or targets, according to ISO 55001? agement Plan (SAMP or
a) Asset Management Policy Asset Management Strate-
b) Maintenance Schedule gy)
c) Work Orders
d) Strategic Asset Management Plan (SAMP or Asset
Management Strategy)
e) Annual Report
6. How is the hierarchy of Asset Management documents c) Line of Sight
in a best practice approach
typically described?
a) Equivalence
b) Joined up thinking
c) Line of Sight
