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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Addressing data security involves the use of:

A) I and III only (Hardware; Human resources)
B) I only (Hardware)
C) I and II only (Hardware; Software)
D) I, II, and III (Hardware; Software; Human resources)

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

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

3. On a procurement card statement, which of the following levels of purchase detail is necessary in order to conduct spend analysis?

A) Level 1 detail
B) Level 2 detail
C) Level 3 detail
D) Level 4 detail

4. What is one benefit of entering a commodity code in a user-defined field when setting up a newvendor?

A) It enables procurement to use the data for spend analysis
B) It automatically generates a price comparison to other similar vendors
C) It prevents a duplicate vendor from being entered
D) It indicates which team member created the new record

5. Examples of preventive controls include each of the following EXCEPT:

A) T&E expenditure guidelines
B) Use of approved vendor lists
C) Dollar limits on use of P-card
D) Account reconciliation

Solutions: