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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. All of the following are examples of key performance indicators (KPIs) EXCEPT:

A) Cost per invoice
B) Lost discounts
C) Positive pay
D) Invoices paid on time

2. In order to be SOX compliant, the T&E process in the U.S. must:

A) I and III only (Ensure correct and accurate recordkeeping; Include report generation with visibility at all required levels)
B) I only (Ensure correct and accurate recordkeeping)
C) I and II only (Ensure correct and accurate recordkeeping; Provide a reliable approval workflow)
D) II only (Provide a reliable approval workflow)

3. An organization's mission statement is intended to provide which of the following?

A) Metrics and benchmarking information
B) Ethics and compliance standards
C) Methodology and direction
D) Policies and procedures

4. Evaluated Receipt Settlement (ERS) requires which of the following?

A) Receipt and Invoice
B) PO and Invoice
C) PO and Receipt
D) PO, Receipt, and Invoice

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

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

Solutions: