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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Which of the following techniques is NOT recommended to help protect confidential data?

A) When approached at your desk, turn off your monitor and turn papers face down
B) Save reports to a portable USB drive and give that to the requestor instead of emailing them
C) When leaving your work area even briefly, lock your computer down
D) Shred unneeded paper documents or put them in a secure disposal container

2. Evaluated Receipt Settlement (ERS) payments are made based on the quantity reflected on which of the following?

A) Supplier Invoice
B) Purchase Order
C) Advanced Shipping Notice
D) Receiving Documents

3. Which of the following are reasons an organization needs a sound records management plan? I. To afford some protection against lawsuits; II. To safeguard vital information; III. To analyze and manage expenditures.

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

4. Which of the following has significantly reduced the number of small dollar invoices to be processed?

A) Payment cards
B) Electronic data interchange
C) Evaluated receipt settlement
D) Petty cash

5. Which of the following best describes ERP systems?

A) They are payment systems designed exclusively for cryptocurrency
B) They link together business functions with real-time data flow
C) They provide a sophisticated means of fraud detection
D) They are popular methods of tracking continuous improvement

Solutions: