Pra-Exam 2 IAM CERTIFICATE

1. Which of the following statements is not a management asset !

• A) a recognition that assets have a life cycle

• B) an approach that looks to get the best out of the assets for the benefit of the organisation and/or its stakeholders

• C) understanding and managing the risk associated with owning assets

• D) a substitute for quality management

2. Asset Management is important because it can help organisations to, except .....

• A) Reduce the capital costs of investing in the asset base

• B) Increase the potential health impacts of operating the assets

• C) Minimise the environmental impact of operating the assets

• D) Improve the regulatory performance of the organisation

3. Asset Management is explicitly focussed on helping organisations to achieve their defined objectives and to determine the optimal blend of activities based on these objectives.

• A) True

• B) False

4. Which are included in the asset life cycle :

• A) Acquire - Corporate- Operate - Dispose

• B) Acquire - Commision - Operate - Diaspora

• C) Acquire - Commision - Operate - Dispose

• D) Acquire - Commision - Performance- Dispose

5. This covers everything the goes into planning, designing and procuring an asset.

• A) Acquire

• B) Commision

• C) Operate

• D) Dispose

6. What Is the Asset Life Cycle?

• A) a strategic and analytical approach to the management of a business’s assets.

• B) a project management system

• C) a substitute for quality management

• D) All False

7. There are 7 principles of asset management :

• A) Value added

• B) Lifecycle

• C) Probability

• D) All true

8. AM based decision produce real saving, where saving develop from, except ......

• A) Efficiency gains

• B) Cost Avoidance

• C) Compliment asset

• D) Cost Effectiveness

9. The comparison between Lean and Asset Management, are ......

• A) All about Value, Risk, Maintenance

• B) All about Purpose, Process, People

• C) All about Asset, People, System

• D) All about Security System

10. Value based on AM is ......

• A) Value creation.

• B) Waste elimination

• C) Value objective

• D) The Assets