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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Good vendor master file practices include each of the following, EXCEPT:

A) Blocking inactive vendors after a certain period
B) Having a vendor verification program
C) Finding and consolidating duplicate vendors
D) Deleting and re-entering vendors that move

2. In the U.S., what type of information is HIPAA designed to protect?

A) Corporate whistleblower identities
B) External auditor findings
C) Private medical records
D) Electronic banking information

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

A) II and III only (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) I and III only (Provide access to a supplier portal, Including as much information as possible on the remittance advice)
D) 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)

4. 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, II, and III
B) II and III only
C) I and II only
D) I and III only

5. The Sarbanes-Oxley statute in the U.S. requires public companies to: I. Establish controls over accounts payable hiring; II. Use a recognized framework to design and test controls over financial reporting; III. Ensure that the company CFO is a CPA.

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

Solutions: