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IOFM Accounts Payable Certification APS

APS

Exam Code: APS

Exam Name: Accredited Payables Specialist (APS) Certification Exam

Updated Time: Sep 04, 2026

Q & A: 102 Questions and Answers

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About IOFM APS Exam Materials

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IOFM APS Exam Syllabus Topics:

SectionObjectives
Topic 1: AP Automation and Technology- Electronic invoicing and automation tools
- ERP and AP system usage
Topic 2: Fraud Prevention and Risk Management- Risk mitigation controls
- Fraud detection in accounts payable
Topic 3: Payments Management- Payment scheduling and optimization
- Payment methods and execution
Topic 4: Reporting and Analytics- Data analysis for payables optimization
- AP reporting and KPI tracking
Topic 5: Accounts Payable Fundamentals- Roles and responsibilities in AP departments
- AP processes and lifecycle
Topic 6: Internal Controls and Compliance- Audit controls and documentation
- Regulatory compliance in payables
Topic 7: Vendor Management- Vendor onboarding and maintenance
- Vendor compliance and performance
Topic 8: Invoice Processing and Workflow- Invoice receipt, validation, and matching
- Approval workflows and exceptions handling

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

Question 1

When dealing with a rush payment, which of the following are acceptable practices? I. Allow the payment to be picked up by the vendor; II. Insist on making the payment electronically; III. Mail the payment.

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


Question 2

Cash management refers to an organization's management of which of the following?

A. Inflow and outflow of funds
B. Payment terms
C. Payroll disbursements
D. Enterprise resource planning systems


Question 3

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

A. I and III only (Provide access to a supplier portal, Including as much information as possible on the remittance advice)
B. 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)
C. II and III only (Assigning specific individuals to interact with specific vendors, Including as much information as possible on the remittance advice)
D. I and II only (Provide access to a supplier portal, Assigning specific individuals to interact with specific vendors)


Question 4

Ways in which an organization could suffer from check fraud include which of the following: I. Check alteration; II. Invalid payments; III. Stolen issued checks.

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


Question 5

What is an important reason an organization's tolerance level for discrepancies between a PO and an invoice should be kept confidential?

A. To keep procurement alert to not making mistakes
B. To prevent vendor fraud
C. To avoid scrutiny by internal audit
D. To allow overages to be deposited into a secure fund for executive use


Solutions:

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

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