Asset Management Digital and IT Asset Management 2 — Questions and Answers
Question 1: Which standard provides requirements for an asset management system and is applicable to organizations managing physical, financial, and IT assets?
- ISO 9001
- ISO 55001 (Correct answer)
- ISO 27001
- ISO 14001
Correct answer: ISO 55001
ISO 55001 specifies requirements for an asset management system, helping organizations achieve value from their assets.
Question 2: In ITAM, 'end-of-life' (EOL) management involves:
- Employee retirement planning
- Planning and executing the secure decommissioning or disposal of retired IT assets (Correct answer)
- Software version rollback procedures
- Network failover configuration
Correct answer: Planning and executing the secure decommissioning or disposal of retired IT assets
EOL management ensures retired IT assets are securely wiped, properly disposed of, and removed from asset records to avoid security and compliance risks.
Question 3: What is the primary purpose of IT asset discovery tools in an ITAM program?
- Generate financial reports
- Automatically detect and inventory hardware and software across the network (Correct answer)
- Monitor network bandwidth
- Deploy software updates
Correct answer: Automatically detect and inventory hardware and software across the network
Asset discovery tools scan the network to automatically identify, catalog, and track all connected hardware and installed software.
Question 4: Which US law requires public companies to maintain adequate internal controls over financial reporting, including IT asset records?
- HIPAA
- Sarbanes-Oxley Act (SOX) (Correct answer)
- Gramm-Leach-Bliley Act
- Federal Information Security Modernization Act
Correct answer: Sarbanes-Oxley Act (SOX)
SOX Section 404 requires management and auditors to assess internal controls over financial reporting, encompassing IT systems and asset records.
Question 5: Cloud asset management differs from traditional ITAM primarily because:
- Cloud assets have no cost
- Cloud resources are dynamically provisioned and can change rapidly, requiring automated tracking (Correct answer)
- Cloud assets cannot be inventoried
- Traditional ITAM covers more asset types
Correct answer: Cloud resources are dynamically provisioned and can change rapidly, requiring automated tracking
Cloud environments spin resources up and down dynamically, making automated discovery and real-time tracking essential for accurate cloud ITAM.
Question 6: What does 'license harvesting' mean in Software Asset Management?
- Purchasing new software licenses in bulk
- Reclaiming unused software licenses from inactive users for redeployment (Correct answer)
- Downloading software from vendor portals
- Renewing expiring license agreements
Correct answer: Reclaiming unused software licenses from inactive users for redeployment
License harvesting recovers software licenses assigned to users who no longer need them, reducing procurement costs by redeploying those entitlements.
Asset Management Digital and IT Asset Management 2
Which standard provides requirements for an asset management system and is applicable to organizations managing physical, financial, and IT assets?