Free IFMA CFM Practice Exam with Questions & Answers | Set: 7

The economic life of an asset is the period during which it remains cost-effective to operate and maintain, minimizing total ownership costs.

Economic life (D) is determined by evaluating operating expenses, maintenance costs, depreciation, and efficiency. At this stage, the asset provides maximum value before its costs exceed its benefits.

Ownership life (A) refers to the entire period of possession, which may extend beyond its optimal cost-effective period.

Useful life (B) is the estimated time an asset can be functionally used, but this does not always align with cost efficiency.

End of life (C) marks when an asset is no longer usable, often requiring costly disposal or replacement.

The Facility Manager is responsible for implementing the Strategic Facility Plan (SFP), ensuring alignment with corporate goals while managing infrastructure, operations, and services.

Strategic Facility Planning (SFP) involves:

Assessing current and future space needs

Aligning facility operations with organizational objectives

Ensuring compliance with budget constraints and regulations

Coordinating with vendors, contractors, and internal stakeholders

Why the other options are incorrect:

(A) Operations Managers oversee daily functions but do not handle long-term strategy.

(C) Chief Financial Officers (CFOs) focus on financial oversight rather than facility execution.

(D) Chief Operations Officers (COOs) have a broader corporate scope, not direct facility management responsibilities.

Facility managers bridge strategic planning with operational execution, ensuring that facility assets support business continuity and efficiency​.

Knowing an employee's strengths (B) is the most effective way to delegate tasks efficiently and ensure productivity.

Effective delegation involves:

Assigning tasks based on competencies

Maximizing productivity and efficiency

Supporting employee development

Why not other options?

(A) Work style may vary but does not define capability.

(C) Accomplishments reflect past performance, not current ability.

(D) Preferences are important but should not override role suitability.

The first step in renovation planning is to perform a gap analysis, which identifies:

Current conditions vs. required functional space needs.

Deficiencies in space utilization, design, or infrastructure.

Necessary upgrades to align with business objectives.

Why the other options are incorrect:

(A) Space programming analysis is important but follows the gap analysis.

(C) Engaging an architect comes after identifying space needs and functional gaps.

(D) Feasibility studies assess project viability but are conducted after defining requirements​.

Work request prioritization in facility management should focus on:

Criticality – The impact on operations and safety if the issue is not addressed.

Safety – The risk level to occupants and property.

Complexity – The effort and resources required to complete the request.

Prioritizing critical and safety-related tasks ensures that high-risk issues are addressed first, minimizing downtime and liability. Cost (Options A, C, D) is a secondary factor, as urgent safety issues must be resolved regardless of cost​.

Stakeholders in facility management services for a multi-location client include all parties affected by the contractual agreement and service delivery. The correct choice encompasses internal, indirect, and external stakeholders who have a vested interest in the outcomes.

Key stakeholders in this scenario include:

Client’s customers – Their experience is directly impacted by facility conditions.

Internal stakeholders – Client’s corporate team responsible for overseeing retail operations.

Indirect stakeholders – Mall landlords and other entities affected by shared infrastructure.

Service providers and partners – Contractors and staff providing maintenance, security, and cleaning services.

Why the other options are incorrect:

(A) Other companies in the mall are indirectly related but not primary stakeholders.

(C) Staff and visitors at each store are important but do not represent all key stakeholders.

(D) Internal managers overseeing similar contracts are relevant, but they do not encompass the full scope of stakeholders.

Effective stakeholder engagement is critical for ensuring service continuity and optimizing costs while maintaining quality​.

Since the shopping center’s exterior design was pre-approved by the local planning board, modifications cannot be made without compliance (Option A).

Why Option A is Correct?

The master plan ensures aesthetic and architectural uniformity for the shopping center.

The tenant’s request violates the approved design standards and would need official planning approval.

IFMA’s Real Estate & Property Management Core Competency emphasizes that FM professionals must enforce lease terms and municipal zoning requirements.

Why Other Options Are Incorrect?

Option B: Even if an architect designs modifications, they must still conform to the master plan.

Option C: The tenant cannot make modifications simply by funding them; approval is required.

A skills gap analysis (Option C) is the most effective method for developing a succession plan because it identifies competencies needed for leadership roles and helps design training programs.

Why Option C is Correct?

A skills gap analysis evaluates the current capabilities of employees and highlights areas for development.

This process helps align training programs with the competencies required for leadership positions.

IFMA’s Human Factors & Leadership Core Competency emphasizes proactive succession planning to ensure leadership continuity.

Why Other Options Are Incorrect?

Option A (Interviews about promotion interest): Interest alone does not determine readiness or capability for leadership roles.

Option B (Reviewing staff goals and objectives): While useful, this does not provide the full picture of skills deficiencies and training needs.

A Building Automation System (BAS) is an intelligent network of controllers and sensors that:

Monitors and automates HVAC, lighting, security, and other systems.

Uses two-way communication for real-time adjustments and analysis.

Enhances energy efficiency and reduces operational costs.

Options B and D are incorrect as modern BAS systems use two-way communication. Option C includes some BAS functions but does not fully describe BAS as an automation system​.

A comprehensive security program consists of personnel, physical devices, and procedures (D).

Personnel: Security staff, employees trained in safety protocols.

Physical devices: Cameras, alarms, access control.

Procedures: Policies, response plans, emergency drills.

Why not other options?

(A) Law enforcement is external, not an internal part of the security program.

(B) Similar issue—law enforcement is not directly managed by facilities.

(C) Executive management engagement is important but not a core security element.