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IOFM APS Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Invoices | |
| Topic 2: Payments | |
| Topic 3: Vendor Master File | |
| Topic 4: T&E (Travel and Expense) | |
| Topic 5: Internal Controls | |
| Topic 6: Tax and Regulatory | |
| Topic 7: Technology and Automation |
IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. Common elements required in a VAT-acceptable invoice include all of the following, EXCEPT:
A) The VAT rate applied
B) The customer's VAT identification number
C) The date of invoice issue
D) The supplier's banking information
2. What is the current thinking regarding automation of T&E expense handling, reporting, and reimbursement?
A) It reduces processing costs, thereby increasing efficiency in handling T&E data
B) T&E automation solutions are still too new to evaluate accurately
C) While automation can be helpful, T&E processing still requires a lot of manual work
D) It opens too many loopholes for unauthorized expenses to sneak through
3. To establish a successful shared services center, each of the following is required EXCEPT:
A) A customer service orientation
B) A change in mindset
C) Performance metrics
D) A greenfield site
4. Which of the following best describes ERP systems?
A) They link together business functions with real-time data flow
B) They provide a sophisticated means of fraud detection
C) They are popular methods of tracking continuous improvement
D) They are payment systems designed exclusively for cryptocurrency
5. Which of the following techniques is NOT recommended to help protect confidential data?
A) When leaving your work area even briefly, lock your computer down
B) When approached at your desk, turn off your monitor and turn papers face down
C) Shred unneeded paper documents or put them in a secure disposal container
D) Save reports to a portable USB drive and give that to the requestor instead of emailing them
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |








