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IAM The Institute of Asset Management Certificate Sample Questions (Q72-Q77):

NEW QUESTION # 72
In conducting a demand analysis, there are several elements to consider:

A. Historical demand
B. Changes in required levels of service and/or products
C. Drivers for demand and the change in demand over time
D. All above true

Answer: D

Explanation:
Ademand analysiswithin asset management evaluates how and why asset usage requirements may change.
This includes:
* Historical Demand- to establish trends and baselines.
* Drivers for Change- such as population growth, regulation, or technology.
* Service Level Requirements- what performance levels or capacities are expected in the future.
All listed options are integral for projecting future asset requirements and aligning lifecycle strategies accordingly.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 4.2.1 - Demand Analysis:
"Demand analysis includes reviewing historical demand, identifying drivers for future changes, and forecasting changes in required levels of service and output."

NEW QUESTION # 73
Two widely used approaches to conceptualising value in an organisation are:

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

Answer: B

NEW QUESTION # 74
Effective asset management can enhance an organization's reputation and its ability to .......?

A. All true
B. Reduce the cost of managing assets over their lives.
C. Meet its regulatory and statutory obligations
D. Operate safely.

Answer: A

Explanation:
Effective asset managementis a driver for multiple benefits, including operational excellence, regulatory compliance, stakeholder trust, and cost control. These outcomes are explicitly stated as the goals of adopting ISO 55000 principles.
* Safe operations result from well-maintained and risk-managed assets.
* Cost optimization is achieved through lifecycle planning.
* Regulatory compliance is improved via standardized governance processes.
Exact Extract from ISO 55000:2014, Clause 2.4 - Benefits of Asset Management:
"Effective asset management supports the realization of value from assets and can contribute to improved financial performance, informed asset investment decisions, managed risk, and demonstrated regulatory compliance."

NEW QUESTION # 75
Asset Management is explicitly focused on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

A. True
B. False

Answer: A

Explanation:
Comprehensive and Detailed in Depth Explanation along with Exact Extract from IAM's five subject areas:
This statement reflects the fundamental definition of asset management. The discipline isgoal-oriented and ensures that activities across the asset lifecycle are aligned to the organization's objectives.
Extract from IAM Document - Asset Management: An Anatomy (v4):
"Asset management is the coordinated activity of an organization to realize value from assets in support of its organizational objectives." (Section 1.1 - Definition of Asset Management)

NEW QUESTION # 76
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 probability and consequences
E. Risks can be assessed by calculating the product of their possibility and Mean Time Between Failure

Answer: D

Explanation:
Again, the recognized method for risk evaluation aligns with ISO 31000 and ISO 55000:
Risk = Probability × Consequence
This is used across risk matrices, risk registers, and decision frameworks.
Exact Extract from IAM - Risk Management in Asset Management:
"The basic formula for quantifying risk is: Risk = Likelihood × Consequence."

NEW QUESTION # 77
......

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100% Pass Perfect IAM-Certificate - The Institute of Asset Management Certificate Reliable Test Testking

IAM-Certificate Real Dumps | IAM-Certificate Valid Exam Registration

IAM The Institute of Asset Management Certificate Sample Questions (Q72-Q77):

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