Managing Asset Lifecycles Question and Answers

Question 1

What procedure is advised for handling assets that are inactive permanently?

Accepted Answer

Create Parent Asset to store all Inactive Assets

Answer

Leave as is

Answer

Delete them

Answer

None of the Above

Question 2

True or False: When the In-Service indicator is unchecked, the Asset's downtime will start to be tracked, and data will be recorded for reporting.

Accepted Answer

True

Answer

False

Question 3

True/False: The Asset History tab's Work Orders sub-tab contains the Asset's Work Order History.

Accepted Answer

True

Answer

False

Question 4

What factors affect records of location changes for Assets?

Accepted Answer

Repair Center change

Answer

Shop change

Answer

Asset Type change

Answer

Classification change

Question 5

What feature(s) can be activated by setting an asset to "Out of Service"?

Accepted Answer

All of the above

Answer

Conditional Formatting

Answer

Scheduled Reporting

Answer

Events and Alerts

Question 6

True or False: When an asset is taken out of service, a transaction is documented.

Accepted Answer

True

Answer

False

Question 7

Which of the following fields must be filled out when declaring an asset out of service?

Accepted Answer

Shutdown Date/Time

Answer

Approval

Answer

Sub-Status