CMRP Asset Management and Life Cycle 3

Question 1

What is 'condition-based replacement' as an asset management strategy?

Accepted Answer

Replacing an asset when condition monitoring data indicates it has degraded to a predefined threshold

Answer

Condition-based replacement uses actual asset condition data to trigger replacement decisions, avoiding both premature disposal and running assets to catastrophic failure.

Question 2

Which term describes the documented minimum performance standard an asset must meet to fulfill its required function?

Accepted Answer

Performance standard

Answer

A performance standard defines the specific functional capability (output, speed, quality, safety) that an asset must achieve to be considered fit for service.

Question 3

In asset management, what does the acronym CAPEX stand for?

Accepted Answer

Capital expenditure

Answer

CAPEX (capital expenditure) refers to funds spent to acquire, upgrade, or extend the life of a physical asset, typically capitalized on the balance sheet.

Question 4

What is the primary benefit of integrating a CMMS with an enterprise resource planning (ERP) system?

Accepted Answer

Seamless sharing of work order, inventory, and cost data across maintenance and financial systems

Answer

CMMS–ERP integration allows maintenance costs, parts consumption, and asset data to flow directly into financial and supply chain systems, improving accuracy and reducing manual entry.

Question 5

Which strategy involves replacing groups of components simultaneously, even if only one has failed, to reduce total downtime?

Accepted Answer

Block replacement

Answer

Block replacement replaces all components in a group at the same time (e.g., all bearings in a pump train) to take advantage of a single planned outage.

CMRP - Certified Maintenance and Reliability Professional Practice Test

CMRP - Certified Maintenance and Reliability Professional Practice Test

CMRP Asset Management and Life Cycle 3