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IAM EXAM QUESTIONS AND ANSWERS 2025
Which of the following is least likely to be in a cash flow
cost model?
A. Depreciation costs
B. Costs of spares and inventory
C. Maintenance and operations costs
D. Energy costs
E. Disposal costs - ....ANSWER ....✔✔ A
Which of the following is not relevant when you are
considering whether to repair or replace a defective
asset?
A. Cost of repair versus cost of replacement
B. Defect history
C. Asset Management objectives
D. Future demand for the assets operation
E. Historic maintenance costs - ....ANSWER ....✔✔ C
Which management functions will make least input to
decisions about asset rationalisation?
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A. Human Resources
B. Engineering
C. Maintenance
D. Finance
E. Operations - ....ANSWER ....✔✔ A
Which of the following is the most effective procurement
strategy?
A. Procurement of the most durable assets with the
longest life cycles
B. Procurement of the least expensive assets available
C. Procurement of the solution offering the lowest whole
life cost of ownership
D. Procurement of the assets with the fewest likely
operational interruptions
E. Procurement of assets from the tried and tested
supply chain - ....ANSWER ....✔✔ C
What asset related risk might be the primary influence
underpinning the business case for an asset
rationalisation proposal?
A. Under-capacity
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B. Over-capacity
C. Spares availability
D. Obsolescence
E. Poor condition - ....ANSWER ....✔✔ D
What should be the most significant consideration
before deploying life cycle decision-making
methodologies?
A. The requirements of third-party stakeholders
B. The requirements of the shareholders
C. Whether the asset management maturity of the
organization enables the benefits to be realised
D. Age of the assets and amount of spend involved
E. Size of the organization and number of assets -
....ANSWER ....✔✔ C
The role of Data Steward (or Custodian) of the asset
register should be
...?
A. Delegated to every Maintenance Manager in the
organisation
B. A defined responsibility assigned to relevant
individuals without day-to-day responsibility for
maintenance activities
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C. A delegated responsibility of all system users
D. A defined responsibility assigned to the Head of IT /
IT Director
A defined responsibility assigned to the head of Finance
/ Finance Director - ....ANSWER ....✔✔ C
Which of the following is an example of an asset
management stewardship measure?
A. Number of audits completed
B. A company's asset management maturity score
C. Number of customer interruptions
D. The average condition of a company's assets
E. Costs against budget - ....ANSWER ....✔✔ A
An Asset Management Policy ...?
A. States the guiding principles that the organization
strategic objectives are developed from
B. Describes how the organization will deliver its asset
management objectives
C. Is a short document describing how asset
management activities will be implemented, with
timescales?
IAM EXAM QUESTIONS AND ANSWERS 2025
Which of the following is least likely to be in a cash flow
cost model?
A. Depreciation costs
B. Costs of spares and inventory
C. Maintenance and operations costs
D. Energy costs
E. Disposal costs - ....ANSWER ....✔✔ A
Which of the following is not relevant when you are
considering whether to repair or replace a defective
asset?
A. Cost of repair versus cost of replacement
B. Defect history
C. Asset Management objectives
D. Future demand for the assets operation
E. Historic maintenance costs - ....ANSWER ....✔✔ C
Which management functions will make least input to
decisions about asset rationalisation?
,2|Page
A. Human Resources
B. Engineering
C. Maintenance
D. Finance
E. Operations - ....ANSWER ....✔✔ A
Which of the following is the most effective procurement
strategy?
A. Procurement of the most durable assets with the
longest life cycles
B. Procurement of the least expensive assets available
C. Procurement of the solution offering the lowest whole
life cost of ownership
D. Procurement of the assets with the fewest likely
operational interruptions
E. Procurement of assets from the tried and tested
supply chain - ....ANSWER ....✔✔ C
What asset related risk might be the primary influence
underpinning the business case for an asset
rationalisation proposal?
A. Under-capacity
,3|Page
B. Over-capacity
C. Spares availability
D. Obsolescence
E. Poor condition - ....ANSWER ....✔✔ D
What should be the most significant consideration
before deploying life cycle decision-making
methodologies?
A. The requirements of third-party stakeholders
B. The requirements of the shareholders
C. Whether the asset management maturity of the
organization enables the benefits to be realised
D. Age of the assets and amount of spend involved
E. Size of the organization and number of assets -
....ANSWER ....✔✔ C
The role of Data Steward (or Custodian) of the asset
register should be
...?
A. Delegated to every Maintenance Manager in the
organisation
B. A defined responsibility assigned to relevant
individuals without day-to-day responsibility for
maintenance activities
, 4|Page
C. A delegated responsibility of all system users
D. A defined responsibility assigned to the Head of IT /
IT Director
A defined responsibility assigned to the head of Finance
/ Finance Director - ....ANSWER ....✔✔ C
Which of the following is an example of an asset
management stewardship measure?
A. Number of audits completed
B. A company's asset management maturity score
C. Number of customer interruptions
D. The average condition of a company's assets
E. Costs against budget - ....ANSWER ....✔✔ A
An Asset Management Policy ...?
A. States the guiding principles that the organization
strategic objectives are developed from
B. Describes how the organization will deliver its asset
management objectives
C. Is a short document describing how asset
management activities will be implemented, with
timescales?
