Expert Answers to IAM Exam IAM-Certificate Questions

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IAM Certificate The Institute of Asset Management Certificate

The Institute of Asset Management Certificate

Last Update Aug 8, 2026
Total Questions : 122

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Questions 2

You have been asked to optimise asset investment planning. What is the best source of information for this?

Options:

Tendered costs

Whole-life cost models

Engineering estimates

Suppliers' quotations

Published data

Discussion 0

Questions 3

Which of the following statements is true?

Options:

Good asset management has clear connectivity between an organisation’s strategic plan and the value core

Assets is not a potential value to an organisation

Assurance is the combination of monitoring and auditing

Visible senior level leadership and commitment is insignificant in organisations

Discussion 0

Questions 4

A significant risk of asset failure that will impact service to customers is identified by an asset operator and reported to his line manager. When is the right time to add the risk to the risk register?

Options:

When the risk is identified to the line manager

Before the next scheduled risk review meeting

When the owner of the risk register asks for emerging risks

After the asset has failed and the cause has been investigated

When budget has been allocated to mitigate the risk

Discussion 0

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Questions 5

Which of the following is NOT normally an input to an asset management plan?

Options:

Maintenance schedules

Asset knowledge

Demand forecast