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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. Which AP function is typically NOT considered a good candidate for business process outsourcing (BPO)?
A) Invoice imaging
B) Check printing
C) Performance monitoring
D) Utility payments
2. Which of the following statements best describes the meaning of data integrity?
A) The data has been tested for accuracy
B) The data was encrypted using an algorithm
C) The data has not been altered
D) The data comes with a digital signature
3. All of the following items are typically addressed in an organization's vendor setup guidelines except:
A) Whether or not the vendor outsources its order fulfillment process
B) Verification that the vendor is not already in the system
C) Validating that the person who requested the new vendor is authorized to do so
D) The conventions for the way letters and abbreviations must be entered
4. Key elements essential for an effective vendor fraud prevention program include each of the following practices, EXCEPT:
A) Verifying that vendors are bonded
B) Confirmation of a physical address
C) Requiring a W-9
D) Checking government sanction lists
5. Which AP function is typically NOT considered a good candidate for business process outsourcing (BPO)?
A) Invoice imaging
B) Check printing
C) Performance monitoring
D) Utility payments
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: C |
