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IAM Certification
IAM-Certificate Exam
IAM.IAM-Certificate.v2025-12-23.q55 Dumps

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Question 51

A definition of asset management is:

A.The optimal maintenance an organisation undertakes on its assets
B.The optimal life cycle management of physical assets to sustainably achieve the stated business objectives
C.A clear understanding of the linkages between each stage in the asset lifecycle
D.A grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations

Correct Answer: B

Thecorrect and widely accepted definition of asset management-particularly as defined by ISO 55000- is thecoordinated activityto realizevalue from assetsthroughlifecycle managementaligned with strategic goals.
Exact Extract from ISO 55000:2014, Clause 3.3.1 - Asset Management:
"The coordinated activity of an organization to realize value from assets."

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Question 52

What is the most effective measure when determining the current health of your assets?

A.Condition assessment
B.Demand forecast
C.Maintenance reports
D.Asset age
E.Historical maintenance cost

Correct Answer: A

Acondition assessmentprovides a direct, objective evaluation of asset health-physical wear, functional capability, risk indicators-which is more accurate than indirect or historical metrics.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.2.3 - Condition and Performance Monitoring:
"Condition assessment provides the basis for understanding asset health and supports risk-based decision- making."

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Question 53

The following things are taken into consideration in developing an asset management strategy,except:

A.Consistency
B.Life cycle approach
C.Asset requirements
D.Management needs

Correct Answer: D

When developing anasset management strategy, key elements include:
* Consistencywith the organizational context and policy.
* Alife cycle approach, covering all asset phases.
* Clear understanding ofasset requirementsto meet future demand and performance expectations.
Management needs, while important for operational support, are not a core component of strategic development and are therefore the correct exclusion.
Exact Extract from ISO 55001:2014, Clause 6.2 - Asset Management Objectives and Planning:
"The strategy must consider the asset lifecycle, ensure consistency with organizational objectives, and define asset requirements."

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Question 54

ISO 55001 sets out requirements for an asset management policy which fall into five categories:

A.Consistency, A priori, Commitment, A framework, Communication
B.Consistency, Appropriateness, Commitment, A framework, Communication
C.Consistency, Appropriateness, Maintenance, A framework, Communication
D.Consistency, A priori, Commitment, Balancing, Communication

Correct Answer: B

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Question 55

How many roles are there in the IAM Competences Framework?

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

Correct Answer: C

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."

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