IOFM Accredited Payables Specialist (APS) Certification : APS

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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

Question #1
Which of the following are reasons an employee should keep and submit T&E receipts, even if using a corporate travel card?

A. I and II only (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones)
B. I and III only (There may be additional expenses for items paid out-of-pocket; The card information may not include the sufficient level of detail needed for approval)
C. II and III only (Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)
D. I, II, and III (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)

Question #2
What is one benefit of entering a commodity code in a user-defined field when setting up a newvendor?

A. It automatically generates a price comparison to other similar vendors
B. It enables procurement to use the data for spend analysis
C. It indicates which team member created the new record
D. It prevents a duplicate vendor from being entered

Question #3
Assigning a user name and password is one method of:

A. Security lockdown
B. Data authentication
C. Robotic process automation
D. Optical character recognition

Question #4
Evaluated Receipt Settlement (ERS) requires which of the following?

A. PO, Receipt, and Invoice
B. PO and Receipt
C. Receipt and Invoice
D. PO and Invoice

Question #5
To minimize fraud risk before adding a new vendor to the master vendor file, you should do which of the following? I. Check the vendor against government sanction lists; II. See if the vendor's address matches any of the organization's locations; III. Verify the vendor's business registration.

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

Solutions: