IOFM APS Exam : Accredited Payables Specialist (APS) Certification Exam

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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

Question 1

A three-way match is governed by the invoice, the purchase order, and which of the following?

A. Bank draft
B. Receiving documents
C. Remittance advice
D. P-card statement

Question 2

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

A. Some AP software solutions have been shown to corrupt data during this process
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. Many instances of fraud are enabled by changes in the VMF

Question 3

What does the acronym 'ASP' stand for?

A. Automated secure processing
B. Accrual statement period
C. Application service provider
D. Accounting standards protocol

Question 4

All of the following are examples of key performance indicators (KPIs) EXCEPT:

A. Cost per invoice
B. Invoices paid on time
C. Positive pay
D. Lost discounts

Question 5

The general rule for determining independent contractor status looks at evidence in each of the following categories, EXCEPT:

A. The amount of control the employer has over the worker's finances
B. The degree of control the employer exercises over the worker's work results
C. The type of relationship established between the parties
D. The job title assigned to the worker

Solutions: