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IAM Test IAM-Certificate Dumps: The Institute of Asset Management Certificate - ValidDumps Help you Pass Once

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First-hand IAM Test IAM-Certificate Dumps - IAM-Certificate The Institute of Asset Management Certificate

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IAM The Institute of Asset Management Certificate Sample Questions (Q43-Q48):

NEW QUESTION # 43
Which of the following is typically NOT a capital investment?

A. Replacement assets
B. Property acquisition
C. Asset creation
D. Safety inspections
E. Asset renewal

Answer: D

Explanation:
Capital investmentrefers to spending on assets that will deliver value over the long term, typically involving creation, acquisition, renewal, or enhancementof assets.Safety inspections, however, are anoperational expense (Opex)and part of regular maintenance and compliance activities.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.3.3 - Capital Investment Decision-Making:
"Capital investment includes asset creation, acquisition, or major renewal. Routine inspections and maintenance activities are operational expenditures."

NEW QUESTION # 44
Which of the following is NOT a key requirement with regard to an asset management policy?

A. It provides for continual improvement
B. It is consistent with the organizational strategic plan
C. It is appropriate for the type of organization
D. It is fully detailed on every aspect
E. It commits the organization to compliance with relevant laws

Answer: D

Explanation:
Theasset management policyis a high-level document, and thereforenot meant to be fully detailed. It outlines intent and framework, not implementation specifics.
Exact Extract from ISO 55001:2014, Clause 5.2:
"Shall be appropriate to the organization and provide a framework for objectives. It does not include detailed implementation plans."

NEW QUESTION # 45
Which of the following statements is true?

A. Good asset management has clear connectivity between an organisation's strategic plan and the value core
B. Assets is not a potential value to an organisation
C. Assurance is the combination of monitoring and auditing
D. Visible senior level leadership and commitment is insignificant in organisations

Answer: C

Explanation:
* Option Ais poorly phrased; it is partially correct but vague in structure.
* Option Bis incorrect as assetsdorepresent potential or actual value.
* Option Cis accurate-assuranceinvolves ongoing monitoring and evaluation to verify systems, processes, and asset behavior meet expectations.
* Option Dcontradicts ISO 55001, which mandates top-level leadership commitment.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 1.4.4 - Assurance:
"Assurance is achieved through the combination of monitoring, review, and auditing processes that ensure assets, systems, and outcomes are operating as intended."

NEW QUESTION # 46
What is the correct top-down hierarchy order for the following PAS 55 defined documents?

A. Asset Management Policy, Objectives, Strategy and Plans
B. Asset Management Policy, Plans, Strategy and Objectives
C. Asset Management Strategy, Policy, Objectives and Plans
D. Asset Management Policy, Strategy, Objectives and Plans

Answer: D

NEW QUESTION # 47
Which of the following statements is true:

A. Corporate objectives should be set by comparing the organisation's performance to its most closest associated peer
B. Corporate objectives drive the activities within the Asset Management system
C. Corporate objectives are derived from the Asset Management strategy

Answer: B

Explanation:
Theflow of alignmentis from top-levelcorporate objectives#AM strategy#AM objectives#plans and activities. The reverse (A) is incorrect. C may be a benchmarking approach but is not a guiding principle.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.1 - Strategic Alignment:
"Asset management must be aligned with corporate objectives and not the other way around. Organizational priorities set the direction for asset-related strategies."

NEW QUESTION # 48
......

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