Study with IAM-Certificate Actual Test Questions
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Updated: Sep 04, 2025
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IAM The Institute of Asset Management Certificate Sample Questions:
1. Capital Investment Decision-Making comprises the processes to .....
A) All false
B) The replacement of modal at the end of their useful life
C) Evaluate and analyse options for the creation of new assets
D) Decreasing the capability of assets
2. ISO 55000 is ......
A) The international reference standard to sets out the criteria for a quality management system
B) The international reference standard to sets out the criteria for an environmental management system
C) The international reference standard that provides the overview of information security management systems
D) The international reference standard for the optimal management of physical assets.
3. Vou ate presenting an 'Introduction lo good Asset Management' workshop. A member of the audience asks you to draw a simple diagram that best describes the three main parameters Involved in good practice Risk Management. Which of the following diagrams are you most likely to draw?
A) 
B) 
C) 
D) 
E) 
4. Which of these statements is true:
A) Asset information should be collected on all measurable aspects of an asset's function and performance
B) Asset information requirements should be derived according to the requirements set out in the IT department's procurement specification
C) Asset information should be guided by the relevance of the information to the assetmanagement decisions that need to be made about the asset
5. What are the main cost elements of a whole-life cost approach?
A) Installation, failure and refurbishment costs
B) Maintenance, associated financing costs, refurbishment, and disposal costs
C) Asset deterioration and reliability costs
D) Installation, maintenance and operations, and disposal costs
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: E | Question # 4 Answer: C | Question # 5 Answer: D |
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