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IAM CERTIFICATE EXAM | 121 QUESTIONS | WITH ACTUAL SOLUTIONS!!
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IAM CERTIFICATE EXAM | 121 QUESTIONS | WITH ACTUAL SOLUTIONS!!
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IAM CERTIFICATE EXAM | 121 QUESTIONS |WITH ACTUAL SOLUTIONS!!
What does EBIT stand for? Answer - Earnings before interest and taxes
What does EBITDA stand for? Answer - Earnings before interest, taxes,
depreciation, and amortization
What does EFNMS stand for? Answer - European federation of national
maintenance societies
What does ETA stand for? Answer - Event Tree Analysis
What does FMEA stand for Answer - Failure Modes & Effects Analysis
What does FMECA stand for? Answer - Failure Modes, Effects and Criticality
Analysis
What does FRACAS stand for? Answer - Failure Reporting, Analysis &
Corrective Action System
What does FTA mean? Answer - Fault tree analysis
What does GIS stand for? Answer - Geographic Information System
,What does GFMAM stand for? Answer - Global forum of maintenance & asset
management
What does HAZID stand for? Answer - Hazard identification
What does HAZOP stand for? Answer - Hazard and Operability Study
What does MRA stand for? Answer - Maintenance requirement analysis
What does MTBF stand for? Answer - Mean Time Between Failures
What does MTTR stand for? Answer - mean time to repair
What does NPV stand for? Answer - net present value
What does PDCA stand for? Answer - Plan, Do, Check, Act
What does RAMS stand for? Answer - Reliability, Availability, Maintenance,
Safety
What does RBM stand for? Answer - Risk based maintenance
What does RCM stand for? Answer - Reliability Centred Maintenance
What does ROI stand for? Answer - return on investment
, What does SMART stand for? Answer - Specific, Measurable, Attainable,
Realistic, Time-based
What does SWOT stand for? Answer - strengths, weaknesses, opportunities,
threats
What does Asset management mean? Answer - Coordinated activities of a
organisation to realise value from its assets
What is in the 6 box IAM conceptual model? Answer - Organisation and
people, strategy and planning, Asset management decision making, asset
information, lifecycle delivery, risk and review
What are the 4 'Layers' of asset management Answer - Managing the
organisation, asset management, asset management system, asset portfolio
What is an asset Management System Answer - Set of interrelated or
interacting elements to establish AM Policy, AM Objectives and processes to
achieve those objectives.
What is the organisational strategic plan driven by? Answer - Stakeholders
What are the 4 key stakeholders? Answer - Customers, legislation, investors,
commercial environment
What is the role of the Asset Manager? Answer - To work out how to best
meet the demandsand objectives set my top management for the organisation
- now and in the future
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