IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. What is an important reason an organization's tolerance level for discrepancies between a PO and an invoice should be kept confidential?
A) To prevent vendor fraud
B) To avoid scrutiny by internal audit
C) To allow overages to be deposited into a secure fund for executive use
D) To keep procurement alert to not making mistakes
2. According to the ACFE, which of the following is the most common type of fraud scheme?
A) Intellectual property fraud
B) Corruption (bribery)
C) Financial misstatement
D) Asset misappropriation
3. On a procurement card statement, which of the following levels of purchase detail is necessary in order to conduct spend analysis?
A) Level 3 detail
B) Level 2 detail
C) Level 1 detail
D) Level 4 detail
4. In the U.S., what is the best way to verify a vendor's business registration?
A) Send a letter to the vendor requesting written confirmation that the registration is up-to-date
B) Check the database of the Secretary of State where the vendor is registered
C) Submit a request to the Internal Revenue Service to do a Form 1120 search
D) Require a sworn affidavit from the vendor's financial institution
5. Which of the following are potential red flags for T&E expenses that fall outside of policy?
A) II and III only (Cab fares; Weekend stays)
B) II only (Cab fares)
C) I only (Charges for airline upgrades)
D) I and III only (Charges for airline upgrades; Weekend stays)
Solutions:
Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: D |
Frequently Asked Questions
1. What kinds of study material ITBraindumps provides?
Test engine: study test engine can be downloaded and run on your own devices. Practice the test on the interactive & simulated environment.
PDF (duplicate of the test engine): the contents are the same as the test engine, support printing.
2. How long can I get the products after purchase?
You will receive an email attached with the APS study material within 5-10 minutes, and then you can instantly download it for study. If you do not get the study material after purchase, please contact us with email immediately.
3. Can I get the updated products and how to get?
Yes, you will enjoy one year free update after purchase. If there is any update, our system will automatically send the updated study material to your payment email.
4. What's the applicable operating system of the test engine?
Online test engine can supports Windows / Mac / Android / iOS, etc., because it is the software based on WEB browser. You can use it on any electronic device and practice with self-paced.
Online test engine supports offline practice, while the precondition is that you should run it with the internet at the first time.
PC test engine is suitable for windows operating system, running on the Java environment, and can install on multiple computers.
PDF version: can be read under the Adobe reader, or many other free readers, including OpenOffice, Foxit Reader and Google Docs
5. How does your testing engine works?
Once download and installed on your PC, you can practice test questions, review your APS questions & answers using two different options 'practice exam' and 'virtual exam'.
Virtual Exam - test yourself with APS exam questions with a time limit.
Practice exam - review APS exam questions one by one, see correct answers.
6. How often do you release your products updates?
All the products are updated frequently but not on a fixed date. Our professional team pays a great attention to the exam updates and they always upgrade the content accordingly.
7. Do you have any discounts?
We offer some discounts to our customers. There is no limit to some special discount. You can check regularly of our site to get the coupons.