IOFM APS : Accredited Payables Specialist (APS) Certification Exam

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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Payments by U.S. companies to U.S. unincorporated service providers must be reported to the IRS if they equal or exceed which of the following dollar amounts?

A) $600
B) $300
C) $500
D) $1,000

2. To establish a successful shared services center, each of the following is required EXCEPT:

A) A change in mindset
B) A customer service orientation
C) Performance metrics
D) A greenfield site

3. Which of the following are incentives for automating accounts payable?

A) II and III only (Better forecasting; Eliminating the need for audits)
B) I, II, and III (Reduced costs of handling paper; Better forecasting; Eliminating the need for audits)
C) I and III only (Reduced costs of handling paper; Eliminating the need for audits)
D) I and II only (Reduced costs of handling paper; Better forecasting)

4. 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 only
B) I, II, and III
C) I and II only
D) III only

5. In which ways can the accounts payable specialist benefit the organization as a whole? I. Meet the organization's commitments; II. Communicate to management barriers to performance; III. Maintain positive relationships with suppliers.

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

Solutions: