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Ans. AWS Identity And Access Management (IAM) is a webservice provided by AWS platform that provides access control capabilities (authentication and authorization) to AWS resources.
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Ans. Job function provides a mechanism to bundle together all Policies that might be required to perform a particular job like Database Administrator , Billing Administrator etc and hence facilitates granting higher level permissions.
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Ans. effect means whether the effect of this Policy is to allow or deny, action means the type of action ( read , write ) and service, and resource is the resource where this should apply.
For example - If we want to have a Policy of providing read access on S3 ,
effect will be "allow"
action will be "s3:GetObject"
resource will be "arn:aws:s3:::examplebucket/*"
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