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The Institute of Asset Management Certificate 온라인 연습

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Question No : 1


Which of the following is best described as an Asset Management Objective?

정답:
Explanation:
An Asset Management Objective is typically a strategic-level goal, not overly detailed or time-bound. It focuses on intent, such as adopting a methodology or aligning with a principle.
Option B and C are performance targets or KPIs. D is grammatically incorrect.
Exact Extract from ISO 55001: 2014, Clause 6.2 C Asset Management Objectives:
“Objectives shall be consistent with the asset management policy, measurable (if practicable), and aligned with achieving value from assets.”

Question No : 2


What is an Asset Management System as defined by PAS 55?

정답:
Explanation:
The Asset Management System refers to the management framework of policies, processes, and tools that collectively enable the achievement of asset-related objectives―not just IT or data systems.
Exact Extract from PAS 55-1: 2008, Clause 3.3.1:
“Asset management system: The integrated set of processes, plans, and tools that collectively define and drive the asset management activities within the organization.”

Question No : 3


Which statement is INCORRECT?

정답:
Explanation:
The Asset Management Policy is not derived from other policies―it is aligned with them. It expresses high-level intent and governs other plans and strategies, not the reverse.
Exact Extract from ISO 55001: 2014, Clause 5.2 C Asset Management Policy:
“The asset management policy shall be consistent with other relevant organizational policies and aligned with the organization’s strategic plan.”

Question No : 4


What is the correct top-down hierarchy order for the following PAS 55 defined documents?

정답:
Explanation:
According to PAS 55 and ISO 55001, the hierarchy flows from high-level principles and intent (policy) to detailed tactical execution (plans):
PolicyC Organizational intent and principles
StrategyC Long-term approach for achieving objectives
ObjectivesC Specific performance and capability targets
PlansC Scheduled actions to meet objectives
Exact Extract from PAS 55-1: 2008, Section 4.2.1:
“The asset management policy leads into the asset management strategy, from which objectives and
corresponding plans are derived.”

Question No : 5


Asset Management should deliver:

정답:
Explanation:
The primary function of asset management is to ensure that assets contribute to the achievement of strategic objectives, not solely customer service or shareholder return.
Exact Extract from ISO 55000: 2014, Clause 2.3 C Purpose of Asset Management:
“Asset management enables an organization to realize value from assets in the achievement of its organizational objectives.”

Question No : 6


How many elements does the IAM Asset Management Conceptual Model contain?

정답:
Explanation:
The IAM Conceptual Model consists of four primary elements:
WhyC Value
WhatC Strategy and Planning
HowC Life Cycle Delivery Activities
EnablersC People, Processes, Systems
Exact Extract from IAM C Asset Management: An Anatomy (v4), Figure 1 C Conceptual Model:
“The model contains four domains that together define the purpose, processes, and enablers of asset management.”

Question No : 7


Which of these is NOT a key principle of asset management?

정답:
Explanation:
Reducing investment cost is a tactical financial objective, not a principle of asset management. IAM's seven principles include value, alignment, leadership, assurance, lifecycle thinking, risk-based decision-making, and sustainability.
Exact Extract from IAM C Asset Management: An Anatomy (v4), Section 1.4 C Principles of Asset Management:
“Key principles include alignment with business objectives and applying whole-life costing―not cost reduction as a goal in itself.”

Question No : 8


A definition of asset management is:

정답:
Explanation:
The correct and widely accepted definition of asset management―particularly as defined by ISO 55000―is the coordinated activity to realize value from assets through lifecycle management aligned with strategic goals.
Exact Extract from ISO 55000: 2014, Clause 3.3.1 C Asset Management:
“The coordinated activity of an organization to realize value from assets.”

Question No : 9


What is PAS 55?

정답:
Explanation:
PAS 55was developed by the British Standards Institution (BSI) and the IAM in 2004, and became the first public specification for physical asset management systems. It laid the groundwork for ISO 55000.
Exact Extract from IAM C PAS 55 Summary:
“PAS 55: 2008 is a Publicly Available Specification published by BSI for the optimized management of physical assets.”

Question No : 10


How many roles are there in the IAM Competences Framework?

정답:
Explanation:
The IAM Competences Framework defines seven roles that encompass strategic, tactical, and operational functions across asset management. These are intended to cover a range of responsibilities and skills across an organization.
Exact Extract from IAM C Competences Framework (v3):
“The IAM Competences Framework defines seven generic roles: Asset Manager, Strategic Planner, Life Cycle Delivery, Risk Manager, Resource Manager, Information Manager, and Stakeholder Engagement Lead.”

Question No : 11


There are many factors that can drive the decommissioning of assets, except:

정답:
Explanation:
While legislative compliance typically drives asset upgrades or operational adjustments, it does not directly trigger decommissioning. Instead, decommissioning is usually influenced by:
Obsolescence (e.g., technology no longer supported)
Overcapacity (asset redundancy)
Operational cost (prohibitive maintenance or energy expense)
Exact Extract from IAM C Asset Management: An Anatomy (v4), Section 3.4.5 C Life Cycle Stage:
Disposal/Decommissioning:
“Typical drivers include condition, cost of retention, obsolescence, redundancy, and safety concerns.”

Question No : 12


Procurement and delivery of the solution to time, cost and quality targets.
What phase is it?

정답:
Explanation:
The Implementation Phase involves translating approved asset plans into physical or system outputs.
It encompasses procurement, execution, and delivery to specification and budget constraints.
Concept and definition phases precede this stage.
Handover follows this phase and deals with asset operational readiness.
Exact Extract from IAM C Asset Management: An Anatomy (v4), Section 3.4.2 C Life Cycle Stage:
Implementation:
“This phase includes procurement, construction, installation, testing, and commissioning of the asset or solution. It is where time, cost, and quality performance is most closely monitored.”

Question No : 13


Capital Investment Decision-Making comprises the processes to .....

정답:
Explanation:
Capital Investment Decision-Making is a structured process that evaluates investment options, typically considering total lifecycle cost, business value, and risk. While asset replacement may be a consequence, the broader goal is optimization of value creation through new asset deployment.
Exact Extract from IAM C Asset Management: An Anatomy (v4), Section 4.3.3 C Capital Investment Decision-Making:
“This includes identification, evaluation, and prioritization of investment options to create, upgrade or renew assets in alignment with organizational objectives.”

Question No : 14


Characteristics of organisational context that affect what is achievable and worthwhile in asset management fall into three categories:

정답:
Explanation:
The organizational context determines how asset management strategies and objectives are tailored. It includes internal and external factors such as asset complexity, environmental volatility, and the criticality of systems to business continuity.
Exact Extract from ISO 55001: 2014, Clause 4.1 C Understanding the Organization and its Context:
“The organization shall determine external and internal issues relevant to its purpose and that affect its ability to achieve the intended outcomes of its asset management system.”

Question No : 15


What is one of the most important elements of asset management?

정답:
Explanation:
Organizational culture significantly 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 C Asset Management: An Anatomy (v4), Section 5.2 C Organizational Culture:
“Organizational culture defines how people behave within asset management systems. It is essential for effective delivery of policy and strategic intent.”

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