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2025 Efficient IAM IAM-Certificate: Latest The Institute of Asset Management Certificate Dumps Questions

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IAM The Institute of Asset Management Certificate Sample Questions (Q11-Q16):

NEW QUESTION # 11
The purpose of an Asset Information Strategy is to:

A. Collate the standards which define the collection, storage and use of asset information
B. Specify the requirements for procuring the organisation's asset information system
C. Provide the overall framework and plan for asset information which will deliver the organisation's asset information requirements
D. Calculating the lowest cost options for the entire commercial life of a building

Answer: C

Explanation:
TheAsset Information Strategydefines how asset data is governed, managed, and utilized across its lifecycle.
It supports quality, accessibility, and traceability of information.
Exact Extract from IAM - Asset Information Strategy:
"The strategy provides the plan and framework that supports the effective management and use of asset information aligned to asset management objectives."

NEW QUESTION # 12
Two widely used approaches to conceptualising value in an organisation are:

A. The Value Net and Chain
B. The Value Stream and Chain
C. The Value Net and Delivery
D. The Value Stream and Delivery

Answer: B

Explanation:
Organizations often use theValue StreamandValue Chainmodels to understand and maximize how value is created and delivered across asset-related activities:
* TheValue Chainfocuses on high-level stages in business processes.
* TheValue Streamprovides a more detailed view of flow through specific processes, identifying non- value-adding steps.
These models support performance optimization, resource allocation, and investment planning in asset- intensive environments.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 2.1 - Value in Asset Management:
"Value Stream and Value Chain models are common frameworks to analyze how value is created, delivered, and sustained in asset management systems."

NEW QUESTION # 13
How many roles are there in the IAM Competences Framework?

A. Three
B. Seven
C. Five
D. Six

Answer: B

Explanation:
The IAMCompetences Frameworkdefinesseven rolesthat 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 - 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."

NEW QUESTION # 14
What is NOT usually considered in the decision to decommission and dispose of assets?

A. The depreciated value of the assets
B. The residual value of assets
C. Legislation regarding disposal of the assets
D. Alternative uses for the assets
E. The environmental impact of disposing of the assets

Answer: A

Explanation:
Depreciated valueis a financial accounting figure and is not a strong indicator of whether an asset should be decommissioned. Operational, legal, and environmental factors carry more weight.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.5 - Disposal:
"Factors include residual value, reuse options, legal compliance, and environmental impact. Financial book value is rarely a deciding factor."

NEW QUESTION # 15
A policy is best defined as...

A. Temporary endeavor to create unique output
B. Action plans to attain objectives
C. Overarching objectives setting context and direction
D. Intentions and direction as formally expressed by top management
E. Activities to create value for customers

Answer: D

Explanation:
Apolicyis a formal statement of intent from senior leadership, expressing organizational direction, intent, and principles.
Exact Extract from ISO 55000:2014, Clause 3.1.7 - Definition of Policy:
"Policy: Intentions and direction of an organization, as formally expressed by its top management."

NEW QUESTION # 16
......

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