IOFM Accredited Payables Specialist (APS) Certification : APS

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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Which of the following are data security concerns?

A) II and III only (Who is accessing the data; For what purpose the data is being used)
B) I and III only (What data is being accessed; For what purpose the data is being used)
C) I and II only (What data is being accessed; Who is accessing the data)
D) I, II, and III (What data is being accessed; Who is accessing the data; For what purpose the data is being used)

2. What is one reason special care must be taken when making changes to the vendor master file?

A) Many instances of fraud are enabled by changes in the VMF
B) Internal audit generally oversees this process and they must be consulted first
C) This task is generally performed by those who have little training on data entry
D) Some AP software solutions have been shown to corrupt data during this process

3. Which of the following AP department procedures would reduce the number of vendor calls to the AP department?

A) I, II, and III (Provide access to a supplier portal, Assigning specific individuals to interact with specific vendors, Including as much information as possible on the remittance advice)
B) I and II only (Provide access to a supplier portal, Assigning specific individuals to interact with specific vendors)
C) II and III only (Assigning specific individuals to interact with specific vendors, Including as much information as possible on the remittance advice)
D) I and III only (Provide access to a supplier portal, Including as much information as possible on the remittance advice)

4. Which of the following IRS documents addresses travel & entertainment (T&E) expenses?

A) Notice 1009
B) Advisory 972
C) Publication 463
D) Form 1046

5. Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III.
States.

A) II and III only
B) I and III only
C) III only
D) I, II, and III

Solutions: