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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. All of the following items are typically addressed in an organization's vendor setup guidelines except:

A) Whether or not the vendor outsources its order fulfillment process
B) The conventions for the way letters and abbreviations must be entered
C) Verification that the vendor is not already in the system
D) Validating that the person who requested the new vendor is authorized to do so

2. The acronym "VAT" stands for:

A) Value assessed tax
B) Value added tax
C) Variable added tax
D) Variable assessed tax

3. Regarding documents required to complete a three-way match, which is typically the most difficult to obtain in a timely manner?

A) E-invoice
B) Receiving report
C) Expense report
D) P-card statement

4. Which of the following statements best describes the meaning of data integrity?

A) The data was encrypted using an algorithm
B) The data comes with a digital signature
C) The data has been tested for accuracy
D) The data has not been altered

5. Fixed assets include which of the following? I. Accounts receivable; II. Furniture and fixtures; III. Inventory.

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

Solutions: