IAM Exam Questions with precise solutions ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is least likely to be in a cash flow cost model?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Depreciation costs
||\\//|| ||\\//||
B. Costs of spares and inventory
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Maintenance and operations costs
||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Energy costs
||\\//|| ||\\//||
E. Disposal costs - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is not relevant when you are considering whether to repair or replace
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
a defective asset?
||\\//|| ||\\//|| ||\\//||
A. Cost of repair versus cost of replacement
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Defect history
||\\//|| ||\\//||
C. Asset Management objectives
||\\//|| ||\\//|| ||\\//||
D. Future demand for the assets operation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Historic maintenance costs - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which management functions will make least input to decisions about asset rationalisation?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Human Resources
||\\//|| ||\\//||
B. Engineering
||\\//||
C. Maintenance
||\\//||
D. Finance ||\\//||
E. Operations - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is the most effective procurement strategy?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
,A. Procurement of the most durable assets with the longest life cycles
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Procurement of the least expensive assets available
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Procurement of the solution offering the lowest whole life cost of ownership
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Procurement of the assets with the fewest likely operational interruptions
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Procurement of assets from the tried and tested supply chain - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What asset related risk might be the primary influence underpinning the business case for an
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
asset rationalisation proposal?
||\\//|| ||\\//|| ||\\//||
A. Under-capacity
||\\//||
B. Over-capacity
||\\//||
C. Spares availability
||\\//|| ||\\//||
D. Obsolescence
||\\//||
E. Poor condition - correct answer✔✔D
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What should be the most significant consideration before deploying life cycle decision-making
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
methodologies?
||\\//||
A. The requirements of third-party stakeholders
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. The requirements of the shareholders
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Whether the asset management maturity of the organization enables the benefits to be
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
realised
D. Age of the assets and amount of spend involved
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Size of the organization and number of assets - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
The role of Data Steward (or Custodian) of the asset register should be
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
...?
A. Delegated to every Maintenance Manager in the organisation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
,B. A defined responsibility assigned to relevant individuals without day-to-day responsibility
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
for maintenance activities
||\\//|| ||\\//||
C. A delegated responsibility of all system users
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. A defined responsibility assigned to the Head of IT / IT Director
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A defined responsibility assigned to the head of Finance / Finance Director - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔C
Which of the following is an example of an asset management stewardship measure?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Number of audits completed
||\\//|| ||\\//|| ||\\//|| ||\\//||
B. A company's asset management maturity score
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Number of customer interruptions
||\\//|| ||\\//|| ||\\//|| ||\\//||
D. The average condition of a company's assets
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Costs against budget - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
An Asset Management Policy ...?
||\\//|| ||\\//|| ||\\//|| ||\\//||
A. States the guiding principles that the organization strategic objectives are developed from
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Describes how the organization will deliver its asset management objectives
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Is a short document describing how asset management activities will be implemented,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
with timescales? ||\\//||
D. States SMART objectives as to what the asset management system will deliver over a
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
period of 5-25 years. ||\\//|| ||\\//|| ||\\//||
E. Is a statement to communicate the key asset management principles appropriate to the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
purpose of the organization, will be used to deliver the organisation plan, and provide a
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
framework for setting asset management objectives - correct answer✔✔E ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Verifying that Asset Information systems capturing maintenance and inspection information
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
are operating correctly is best achieved by ...?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Assessing the quality of shift reporting from the operations department
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, B. Sample auditing of maintenance and inspection records and comparing with the physical
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
condition of the assets ||\\//|| ||\\//|| ||\\//||
C. Assessing incident reports for the previous 6 months with respect to predicted
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
performance
D. Reviewing monthly reporting of the inspection department
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Ensuring maintenance reports on failure rates and planned maintenance backlogs are
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
correct - correct answer✔✔B ||\\//|| ||\\//|| ||\\//||
Incorporation of which one of the following activities is good practice when undertaking ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
asset management planning?
||\\//|| ||\\//||
A. Development of asset management policy
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Evaluation of the performance of the asset management system
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Implementation of a new Enterprise Asset Management System
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Setting of corporate goals
||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Outsourcing of asset management training - correct answer✔✔B
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Personal spreadsheets can best support good asset management practice when ...?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. They are used for one-off data analysis tasks without changing data
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. They are used to develop 'local' applications to support work activities
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. They are used to store critical maintenance data for regular local use
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. The are not allowed in an organisation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. They are used as a data store for asset attribute information - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
When developing a new Strategic Asset Management Plan, which of the following pieces of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
information will be most relevant? ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Cost of capital, demand forecasts, competitor analysis
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Historic cost trends, demand forecasts, competitor analysis
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Availability of capital, service performance requirements, historic demand
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is least likely to be in a cash flow cost model?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Depreciation costs
||\\//|| ||\\//||
B. Costs of spares and inventory
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Maintenance and operations costs
||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Energy costs
||\\//|| ||\\//||
E. Disposal costs - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is not relevant when you are considering whether to repair or replace
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
a defective asset?
||\\//|| ||\\//|| ||\\//||
A. Cost of repair versus cost of replacement
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Defect history
||\\//|| ||\\//||
C. Asset Management objectives
||\\//|| ||\\//|| ||\\//||
D. Future demand for the assets operation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Historic maintenance costs - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Which management functions will make least input to decisions about asset rationalisation?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Human Resources
||\\//|| ||\\//||
B. Engineering
||\\//||
C. Maintenance
||\\//||
D. Finance ||\\//||
E. Operations - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//||
Which of the following is the most effective procurement strategy?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
,A. Procurement of the most durable assets with the longest life cycles
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Procurement of the least expensive assets available
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Procurement of the solution offering the lowest whole life cost of ownership
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Procurement of the assets with the fewest likely operational interruptions
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Procurement of assets from the tried and tested supply chain - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What asset related risk might be the primary influence underpinning the business case for an
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
asset rationalisation proposal?
||\\//|| ||\\//|| ||\\//||
A. Under-capacity
||\\//||
B. Over-capacity
||\\//||
C. Spares availability
||\\//|| ||\\//||
D. Obsolescence
||\\//||
E. Poor condition - correct answer✔✔D
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What should be the most significant consideration before deploying life cycle decision-making
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
methodologies?
||\\//||
A. The requirements of third-party stakeholders
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. The requirements of the shareholders
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Whether the asset management maturity of the organization enables the benefits to be
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
realised
D. Age of the assets and amount of spend involved
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Size of the organization and number of assets - correct answer✔✔C
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
The role of Data Steward (or Custodian) of the asset register should be
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
...?
A. Delegated to every Maintenance Manager in the organisation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
,B. A defined responsibility assigned to relevant individuals without day-to-day responsibility
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
for maintenance activities
||\\//|| ||\\//||
C. A delegated responsibility of all system users
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. A defined responsibility assigned to the Head of IT / IT Director
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A defined responsibility assigned to the head of Finance / Finance Director - correct
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔C
Which of the following is an example of an asset management stewardship measure?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Number of audits completed
||\\//|| ||\\//|| ||\\//|| ||\\//||
B. A company's asset management maturity score
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Number of customer interruptions
||\\//|| ||\\//|| ||\\//|| ||\\//||
D. The average condition of a company's assets
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Costs against budget - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
An Asset Management Policy ...?
||\\//|| ||\\//|| ||\\//|| ||\\//||
A. States the guiding principles that the organization strategic objectives are developed from
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Describes how the organization will deliver its asset management objectives
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Is a short document describing how asset management activities will be implemented,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
with timescales? ||\\//||
D. States SMART objectives as to what the asset management system will deliver over a
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
period of 5-25 years. ||\\//|| ||\\//|| ||\\//||
E. Is a statement to communicate the key asset management principles appropriate to the
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
purpose of the organization, will be used to deliver the organisation plan, and provide a
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
framework for setting asset management objectives - correct answer✔✔E ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Verifying that Asset Information systems capturing maintenance and inspection information
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
are operating correctly is best achieved by ...?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Assessing the quality of shift reporting from the operations department
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, B. Sample auditing of maintenance and inspection records and comparing with the physical
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
condition of the assets ||\\//|| ||\\//|| ||\\//||
C. Assessing incident reports for the previous 6 months with respect to predicted
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
performance
D. Reviewing monthly reporting of the inspection department
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Ensuring maintenance reports on failure rates and planned maintenance backlogs are
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
correct - correct answer✔✔B ||\\//|| ||\\//|| ||\\//||
Incorporation of which one of the following activities is good practice when undertaking ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
asset management planning?
||\\//|| ||\\//||
A. Development of asset management policy
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Evaluation of the performance of the asset management system
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Implementation of a new Enterprise Asset Management System
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. Setting of corporate goals
||\\//|| ||\\//|| ||\\//|| ||\\//||
E. Outsourcing of asset management training - correct answer✔✔B
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Personal spreadsheets can best support good asset management practice when ...?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. They are used for one-off data analysis tasks without changing data
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. They are used to develop 'local' applications to support work activities
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. They are used to store critical maintenance data for regular local use
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
D. The are not allowed in an organisation
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
E. They are used as a data store for asset attribute information - correct answer✔✔A
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
When developing a new Strategic Asset Management Plan, which of the following pieces of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
information will be most relevant? ||\\//|| ||\\//|| ||\\//|| ||\\//||
A. Cost of capital, demand forecasts, competitor analysis
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
B. Historic cost trends, demand forecasts, competitor analysis
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
C. Availability of capital, service performance requirements, historic demand
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
