Asset Management Study Guide 2026
Everything you need to pass the Asset Management exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 Asset Management Exam Format at a Glance
📚 Asset Management Topics to Study (36)
✍️ Sample Asset Management Questions & Answers
1. What is 'deferred maintenance' in asset management?
Deferred maintenance refers to maintenance tasks that have been delayed or postponed past their recommended schedule, creating a backlog that can increase failure risk and costs over time.
2. What does 'license harvesting' mean in Software Asset Management?
License harvesting recovers software licenses assigned to users who no longer need them, reducing procurement costs by redeploying those entitlements.
3. What does LCCA stand for in infrastructure asset management?
Life Cycle Cost Analysis (LCCA) evaluates total costs — acquisition, operation, maintenance, and disposal — over an asset's full life to support investment decisions.
4. In the ISO 55001 Plan-Do-Check-Act (PDCA) cycle, which activities fall under the 'Check' phase?
The 'Check' phase (Clause 9) involves monitoring, measurement, analysis, internal audits, and management review to evaluate system performance.
5. Which ISO 55001 clause requires organizations to identify and plan for risks and opportunities that could affect achievement of asset management objectives?
Clause 6 (Planning) requires the organization to address risks and opportunities and establish asset management objectives and plans.
6. ASC 360 (US GAAP) requires impairment testing for long-lived assets when which condition exists?
ASC 360 triggers impairment review when events or changes in circumstances indicate the carrying amount may not be recoverable.