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IOFM APS Exam Overview:
| Certification Vendor: | IOFM (Institute of Finance & Management) |
| Exam Name: | Accredited Payables Specialist (APS) Certification Exam |
| Exam Number: | APS |
| Exam Duration: | 90–120 |
| Related Certifications: | Accredited Payables Manager (APM) Certified Accounts Payable Professional (CAPP) |
| Real Exam Qty: | 100–102 |
| Available Languages: | English |
| Exam Price: | $695–$895 USD |
| Exam Format: | Multiple-choice questions, Single-select / Multi-select |
| Certificate Validity Period: | 3 years |
| Passing Score: | 70% |
| Recommended Training: | IOFM APS Certification Program |
| Exam Registration: | IOFM Official Registration |
| Sample Questions: | IOFM APS Sample Questions |
| Exam Way: | Online proctored or onsite at authorized test centers |
| Pre Condition: | 1+ year AP experience (4-year degree), 2+ years (2-year degree), 3+ years (no degree); no mandatory prerequisite exam |
| Official Syllabus URL: | https://www.iofm.com/certification/aps |
IOFM APS Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Vendor Management | 15% | - Vendor communication and resolution - 1099 / tax reporting requirements - Vendor setup and maintenance |
| Topic 2: Invoice Processing | 25% | - Handling exceptions and discrepancies - Invoice receipt and validation - Matching and reconciliation |
| Topic 3: Internal Controls & Fraud Prevention | 10% | - Segregation of duties - Audit readiness and documentation - Fraud detection and mitigation |
| Topic 4: Process Improvement & Automation | 10% | - Workflow optimization - AP automation tools and technology - Data analysis and reporting |
| Topic 5: Accounts Payable Fundamentals | 20% | - Financial accounting basics for AP - Role and responsibilities of AP department - Regulatory compliance and ethics |
| Topic 6: Payments and Disbursements | 20% | - Payment methods and processing - Travel and expense management - Discounts, allowances and deductions |
IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. All of the following are examples of key performance indicators (KPIs) EXCEPT:
A) Positive pay
B) Cost per invoice
C) Invoices paid on time
D) Lost discounts
2. Examples of preventive controls include each of the following EXCEPT:
A) T&E expenditure guidelines
B) Dollar limits on use of P-card
C) Account reconciliation
D) Use of approved vendor lists
3. Which party is responsible for providing 1099 information for P-card transactions to the IRS?
A) Accounts payable
B) Card user
C) Merchant
D) Card issuer
4. Each of the following is a goal of a vendor management program, EXCEPT:
A) Collecting spend information for procurement
B) Streamlining sales and use tax process
C) Reducing duplicate payments
D) Compliance with laws and regulations
5. What is blockchain?
A) A random password generator
B) A distributed ledger system
C) An internal audit methodology
D) An accounts payable collaborative
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: B |
By Viola
