There's more...

• IAM is a global service. This means that the roles and policies you create will be available in every region.
• You'll find all the available AWS Managed Policies in the AWS web console. There's quite a few of them so don't be afraid to use the search bar.
• There's a third kind of policy called a Customer Managed Policy. These are policies which are managed by you and will appear in the AWS console amongst the AWS Managed Policies.
• As of February 2017, it is possible to attach an IAM role to an existing/running EC2 instance. This previously wasn't the case and the role could only be assigned at the time the instance launched.
• AWS automatically and periodically rotates the credentials returned by the metadata service.
• It's not always appropriate to use an AWS Managed Policy. For example, if a server needs to write to CloudWatch logs, it may be tempting to assign it the AWS Managed Policy that provides full access. If you do this, however, you'll also be giving the server access to delete log groups and streams. This is almost certainly undesirable. You'll want to inspect the policies before you apply them and defer to an Inline or Customer Managed Policy where appropriate. The principle of least privilege applies here.