The professional body for whole life management of physical assets

IAM Certificate

This webpage provides:

  • An overview of the IAM’s Certificate Qualification, and the associated formal examination
  • ​Links to related webpages and supporting documents to help you understand the examination requirements, how to enrol, options for preparing, booking a seat at an exam, and what to expect when sitting the exam.
     

Purpose of Certificate: IAM Qualifications are designed to recognise an individual’s knowledge and understanding of asset management. The IAM Certificate is concerned with the fundamental principles of asset management, and is awarded to those who successfully pass the examination ‘Principles of Asset Management’.

Who it’s for: It is more relevant for people who are new to asset management, have some initial experience of working in an asset management role, or who might have worked in asset management for a while and wish to embark on discipline relevant qualifications. It also addresses the requirements of the GFMAM document ‘Competency Specification for an ISO 55001 Asset Management Auditor and Assessor’.

Cost to enrol for the Certificate: £130 / US$200 (£110 / US$180 for paying members of IAM). 
This covers the enrolment process and provides entry to one examination.  If a candidate opts to re-sit an examination, a re-sit fee will be payable on each occasion.

Preparing for the Certificate: It is anticipated that achieving the standard required for the award of a Certificate involves approx. 150 hours of study to prepare for the examination ‘Principles of Asset Management’. The preparation time will depend on a candidate’s prior knowledge and experience. The IAM endorses organisations that deliver training aligned to the syllabus for the Certificate (Find Training Courses).

The Examination: The ‘Principles of Asset Management’ is a 2-hour, invigilated examination, delivered online at approved IAM exam venues. The exam is ‘closed book’, which means that printed reference materials and dictionaries cannot be taken into the examination room. It comprises 60 multiple-choice questions for in 5 compulsory modules.

Title of Examination

Examination Modules

Number of Exam Questions

'Principles of Asset Management'

M1

 Principles of Asset Management

20

M2

 Asset Management Policy, Strategy & Planning

10

M3

 Managing Asset Life Cycle Decisions and Activities

10

M4

 Assessing and Managing Asset Management Risks

10

M5

 Finance and Business Impact

10

 

To be awarded the Certificate, candidates will be assessed on the basis of achieving:

  • an overall score of 65% in aggregate across all five modules; and
  • not less than 50% in each of the five modules.

 

Supporting Documents

If you are interested in achieving the IAM Certificate we recommend you read the Institute of Asset Management Candidate Handbook, which covers:

  • the process to enrol for an examination, and the information you will need to provide
  • finding learning resources and training courses
  • how to book an exam session, and the rules with which you must comply for sitting your exam
  • what happens after an exam - whether you are successful or unsuccessful.
     

Download Candidate Handbook

We also recommend you download and read Guidance for Candidates. This describes elements of the Qualifications in more detail, including:

  • the philosophy behind the qualifications and how they relate to asset management knowledge, understanding and practice;
  • the scope of the individual topics which make up the 5 compulsory modules for the ‘Principles of Asset Management’ examination; and
  • the assessment protocols that are used to determine the award of a Certificate.
 

It is important that prospective candidates understand the scope of the topics covered by the examination modules, in order to determine what further study and training they may need to prepare for an examination.

The Guidance also suggests a minimum reading list to prepare for the exam.

Download Guidance for Candidates

 

The Diploma: Candidates who are awarded the Certificate, can progress to be assessed for the IAM Diploma. To do this they must enrol for the Diploma within five years of being awarded the Certificate, and then pass the examination ‘Advanced Asset Management’.

To find out more about aspects of the IAM’s Qualifications, please use the links below, or the menu options on the left hand side of this page:

IAM Diploma

Enrol for a Qualification

Find training courses

Book an Exam Session

Qualifications Governance


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