IOFM APS : Accredited Payables Specialist (APS) Certification Exam

  • Exam Code: APS
  • Exam Name: Accredited Payables Specialist (APS) Certification Exam
  • Updated: Sep 05, 2026
  • Q & A: 102 Questions and Answers

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IOFM APS Exam Syllabus Topics:

SectionObjectives
Topic 1: Tax and Regulatory
Topic 2: Payments
Topic 3: Technology and Automation
Topic 4: Invoices
Topic 5: Vendor Master File
Topic 6: Internal Controls
Topic 7: T&E (Travel and Expense)

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

Question 1

What is one concern accounts payable should have regarding international travel?

A. Employees must collect appropriate VAT information to allow reclaiming the tax
B. Fluctuations in exchange rates must be considered to optimally schedule travel
C. Significant differences in time zones can make communication with travelers difficult
D. International travel vendors are known to be unscrupulous so expenses must be scrutinized


Question 2

Which U.S. government organization publishes "per diem" travel guidelines?

A. Department of Commerce
B. Department of Treasury
C. Federal Reserve Board
D. General Services Administration


Question 3

When checking the address of a new vendor, what is one potential red flag?

A. The vendor does not appear to use a post office box
B. The vendor is located in an unincorporated area
C. The vendor's warehouse and its accounts receivable address are different
D. The vendor has the same address as one of the organization's own locations


Question 4

Which of the following are reasons an employee should keep and submit T&E receipts, even if using a corporate travel card?

A. I and III only (There may be additional expenses for items paid out-of-pocket; The card information may not include the sufficient level of detail needed for approval)
B. II and III only (Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)
C. I, II, and III (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)
D. I and II only (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones)


Question 5

COSO identifies each of the following elements as necessary for an effective control environment, EXCEPT:

A. Information is distributed in a timely way
B. People know their responsibilities and limits of authority
C. Staff work in self-directed teams
D. Internal controls are monitored and evaluated


Solutions:

Question 1
Answer: A
Question 2
Answer: D
Question 3
Answer: D
Question 4
Answer: A
Question 5
Answer: C

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