When assessing risks, which of the following is a valid statement?

• A.Risks can be assessed by calculating the product of their probability and frequency
• B.Risks can be assessed by calculating the product of their consequences and occurrence
• C.Risks can be assessed by calculating the product of their Mean Time Between Failure and Mean Time To Repair
• D.Risks can be assessed by calculating the product of their possibility and Mean Time Between Failure
• E.Risks can be assessed by calculating the product of their probability and consequences

Comment: *

Name: *

Email: *

Verification: *

Which statement is INCORRECT?

• A.The Asset Management Policy should be consistent and aligned with the corporate objectives and strategy
• B.All above true
• C.The Asset Management Policy should be derived from all other relevant organisational policies
• D.The Asset Management Policy should be consistent and aligned with all other relevant organisational policies

Comment: *

Name: *

Email: *

Verification: *

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

• A.Company profile
• B.None of above
• C.The role of organisational culture
• D.The control of management risk

Comment: *

Name: *

Email: *

Verification: *

An asset management plan specifies...

• A.Objectives, stakeholders, strategy alignment, and risk mitigation
• B.Activities, resources, costs, timeframes, and responsibilities to meet AM objectives
• C.Capability development, system design, and risk mitigation
• D.Long-term asset management approach and conversion of organizational goals
• E.Framework for translating strategy into AM objectives

Comment: *

Name: *

Email: *

Verification: *

In what year did the term "asset management" start to be used?

• A.1980
• B.1981
• C.1982
• D.1983

Comment: *

Name: *

Email: *

Verification: *