Practice IAM-Certificate Exam Online

Question 1

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

Answer: A

Question 2

IAM-based decisions produce real savings, where savings develop from,except......

A : Efficiency gains

B : Cost Avoidance

C : Compliment asset

D : Cost Effectiveness

Answer: C

Question 3

Assurance is the combination of monitoring and control (of processes and outcomes) to confirm the assets,

systems and processes are operating as intended.

A : False

B : True

Answer: A

Question 4

A public transportation company has a fleet of 150 trams. Type A (25 years old), Type B (19 years), Type C

(2 years). Expected lifetime is 30 years. Type A and B perform sufficiently but suffer obsolescence and spare

parts issues.

What would be a feasible action now?

A : Prepare to phase out type A as they are near the end of life

B : Start an asset rationalisation study on type A (and maybe B) to determine the possible end-of-life options

C : Replace type A and B with 80 new type C trams to standardize fleet

D : Prepare an overhaul for type A and B

E : Modify type A and B to maintain service and solve obsolescence

Answer: B

Question 5

The objectives that the organization wants to achieve from its asset management activities, are ....

A : to describe an organisation’s long-term approach to managing its assets

B : the future capability and performance requirements of assets, asset systems and the asset portfolio as a whole

C : A & B True

D : A & B False

Answer: C

Name:	The Institute of Asset Management Certificate
Exam Code:	IAM-Certificate
Certification:	IAM Certificate
Vendor:	IAM
Total Questions:	95
Last Updated:	May 10, 2026

IAM IAM-Certificate Answers