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IOFM Accredited Payables Specialist (APS) Certification : APS Exam
About IOFM Accredited Payables Specialist (APS) Certification : APS Exam
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IOFM APS Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Payments | |
| Tax and Regulatory | |
| Vendor Master File | |
| Invoices | |
| Technology and Automation | |
| T&E (Travel and Expense) | |
| Internal Controls |
IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
Question #1
Where circumstances do not permit implementing ideal controls, an organization should put in place the next- best alternative, commonly referred to as:
- A. Compensating controls
- B. Secondary controls
- C. Interim controls
- D. Stop-gap controls
Correct Answer: A 🗳️
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Question #2
Which of the following techniques is NOT recommended to help protect confidential data?
- A. Save reports to a portable USB drive and give that to the requestor instead of emailing them
- B. When leaving your work area even briefly, lock your computer down
- C. Shred unneeded paper documents or put them in a secure disposal container
- D. When approached at your desk, turn off your monitor and turn papers face down
Correct Answer: A 🗳️
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Question #3
Which of the following are potential red flags for T&E expenses that fall outside of policy?
- A. II and III only (Cab fares; Weekend stays)
- B. I and III only (Charges for airline upgrades; Weekend stays)
- C. II only (Cab fares)
- D. I only (Charges for airline upgrades)
Correct Answer: B 🗳️
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Question #4
Which AP function is typically NOT considered a good candidate for business process outsourcing (BPO)?
- A. Check printing
- B. Utility payments
- C. Invoice imaging
- D. Performance monitoring
Correct Answer: D 🗳️
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Question #5
In which ways can the accounts payable specialist benefit the organization as a whole? I. Meet the organization's commitments; II. Communicate to management barriers to performance; III. Maintain positive relationships with suppliers.
- A. I and II only
- B. II and III only
- C. I, II, and III
- D. I and III only
Correct Answer: C 🗳️
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