IAM CERTIFICATE LATEST
PRACTICE EXAM
Which of the following is NOT normally an input to an Asset
Management plan?
a) Asset knowledge
b) Maintenance schedules
c) Demand forecast
d) Corporate objectives
e) Asset Management Objectives
b) Maintenance schedules
In Contingency Planning, the plan can be said to be ready when the
three P's are fully optimized.
They are?
a) Process, Plant and Performance
b) Plant, People and Performance
c) Policy, Performance and Plant
d) People, Plant and Process
e) People, Plant and Policy
d) People, Plant and Process
What is the main purpose of Systems Engineering in asset creation?
a) To ensure that the system is maintained to manufacturers
recommended standards
b) To test systems entering service ensuring reliability targets are
met
c) To ensure that business requirements are translated into technical
requirements in system specifications
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1
, IAM CERTIFICATE LATEST
PRACTICE EXAM
d) To be available to respond to faults and system failures
e) To train maintenance engineers and other technical specialists
involved in supporting the systems
c) To ensure that business requirements are translated into technical
requirements in system specifications
Which of the following statements is true about Asset Management
organizations contracting
out work?
a) Organizations can transfer accountability for asset risks with an
appropriate contract in place
b) Organizations should never contract out Asset Management
activities
c) It is unnecessary for organizations to consider the competence of
existing staff when deciding what work to contract out
d) Contractors should be ISO 55001 accredited to reduce risk to the
client organization
e) The organization shall always ensure it retains control of such
work
e) The organization shall always ensure it retains control of such work
A typical qualitative method for assessing and comparing risks uses
what dimensions?
a) Probability and failure frequency
b) Failure frequency and severity
c) Severity and consequence
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PAGE
2
PRACTICE EXAM
Which of the following is NOT normally an input to an Asset
Management plan?
a) Asset knowledge
b) Maintenance schedules
c) Demand forecast
d) Corporate objectives
e) Asset Management Objectives
b) Maintenance schedules
In Contingency Planning, the plan can be said to be ready when the
three P's are fully optimized.
They are?
a) Process, Plant and Performance
b) Plant, People and Performance
c) Policy, Performance and Plant
d) People, Plant and Process
e) People, Plant and Policy
d) People, Plant and Process
What is the main purpose of Systems Engineering in asset creation?
a) To ensure that the system is maintained to manufacturers
recommended standards
b) To test systems entering service ensuring reliability targets are
met
c) To ensure that business requirements are translated into technical
requirements in system specifications
END OF
PAGE
1
, IAM CERTIFICATE LATEST
PRACTICE EXAM
d) To be available to respond to faults and system failures
e) To train maintenance engineers and other technical specialists
involved in supporting the systems
c) To ensure that business requirements are translated into technical
requirements in system specifications
Which of the following statements is true about Asset Management
organizations contracting
out work?
a) Organizations can transfer accountability for asset risks with an
appropriate contract in place
b) Organizations should never contract out Asset Management
activities
c) It is unnecessary for organizations to consider the competence of
existing staff when deciding what work to contract out
d) Contractors should be ISO 55001 accredited to reduce risk to the
client organization
e) The organization shall always ensure it retains control of such
work
e) The organization shall always ensure it retains control of such work
A typical qualitative method for assessing and comparing risks uses
what dimensions?
a) Probability and failure frequency
b) Failure frequency and severity
c) Severity and consequence
END OF
PAGE
2
