Pass the actual test with the help of APS study guide
Updated: Jul 27, 2026
No. of Questions: 102 Questions & Answers with Testing Engine
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| Certification Vendor: | IOFM (Institute of Finance & Management) |
| Exam Name: | IOFM Accredited Payables Specialist (APS) Certification Exam |
| Exam Number: | APS |
| Exam Format: | Multiple-choice, Online proctored exam |
| Available Languages: | English |
| Related Certifications: | Accredited Payables Manager (APM) |
| Recommended Training: | IOFM Accounts Payable Training |
| Exam Registration: | IOFM Training and Certification Programs IOFM Certification Overview |
| Sample Questions: | IOFM APS Sample Questions |
| Exam Way: | Online proctored, self-paced certification exam via IOFM platform |
| Pre Condition: | Recommended practical experience in accounts payable or finance operations; IOFM training is typically suggested but not strictly required. |
| Official Syllabus URL: | https://www.iofm.com/ |
| Section | Objectives |
|---|---|
| Topic 1: Vendor Management | - Vendor compliance and performance - Vendor onboarding and maintenance |
| Topic 2: Reporting and Analytics | - AP reporting and KPI tracking - Data analysis for payables optimization |
| Topic 3: AP Automation and Technology | - Electronic invoicing and automation tools - ERP and AP system usage |
| Topic 4: Internal Controls and Compliance | - Audit controls and documentation - Regulatory compliance in payables |
| Topic 5: Payments Management | - Payment methods and execution - Payment scheduling and optimization |
| Topic 6: Invoice Processing and Workflow | - Invoice receipt, validation, and matching - Approval workflows and exceptions handling |
| Topic 7: Fraud Prevention and Risk Management | - Risk mitigation controls - Fraud detection in accounts payable |
| Topic 8: Accounts Payable Fundamentals | - Roles and responsibilities in AP departments - AP processes and lifecycle |
1. Which AP function is typically NOT considered a good candidate for business process outsourcing (BPO)?
A) Invoice imaging
B) Performance monitoring
C) Check printing
D) Utility payments
2. What is the current thinking on the practice of maintaining a petty cash fund?
A) It's considered a best practice within service organizations and consulting businesses
B) Three separate individuals should sign off on disbursements
C) It should be maintained by an executive in the treasury department
D) It's practically obsolete and should be eliminated, if possible
3. What is blockchain?
A) An internal audit methodology
B) An accounts payable collaborative
C) A random password generator
D) A distributed ledger system
4. Which of the following has significantly reduced the number of small dollar invoices to be processed?
A) Electronic data interchange
B) Petty cash
C) Evaluated receipt settlement
D) Payment cards
5. Assigning a user name and password is one method of:
A) Security lockdown
B) Robotic process automation
C) Data authentication
D) Optical character recognition
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |
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