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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Which of the following is true about a recurring wire transfer?

A) It must be made through CHIPS
B) It is made to the same organization each time
C) It is made at the same time each week
D) It is made for the same amount each time

2. 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

3. What is a "direct spend" invoice for?

A) Supplies
B) Inventory
C) Material
D) Repairs

4. When applied to T&E, compliance requires which of the following processes?

A) III only (Traveler location tracking)
B) II and III only (Secure record retention; Traveler location tracking)
C) I and II only (Accurate recordkeeping; Secure record retention)
D) I only (Accurate recordkeeping)

5. What is a good strategy for dealing with the change that typically accompanies automation?

A) Understand and accept that it will take time to learn a new system
B) If you feel the change won't be for the best, try to convince management to delay
C) Don't worry about it until you must actually implement the changes
D) Request that you be reassigned to a role that is unaffected by automation

Solutions: