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IOFM APS Exam Dumps

Accredited Payables Specialist (APS) Certification Exam

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Total Questions : 100
Update Date : July 16, 2026
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IOFM APS Sample Questions

Question # 1

What is one reason special care must be taken when making changes to the vendor master file?

A. Internal audit generally oversees this process and they must be consulted first
B. Many instances of fraud are enabled by changes in the VMF
C. This task is generally performed by those who have little training on data entry
D. Some AP software solutions have been shown to corrupt data during this process



Question # 2

Each of the following is one of the most common types of fraudulent expense reimbursement schemes, EXCEPT:

A. Personal expenses reported as business-related
B. Forged or modified travel receipts
C. Multiple reimbursements for the same expense
D. Lapping schemes for transportation cost



Question # 3

The acronym GAAP stands for which of the following? 

A. Government Accounting Acceptance Principles
B. Government Accounting Actuarial Program
C. General Accounting Administration Program
D. Generally Accepted Accounting Principles



Question # 4

Each of the following are ways to expand the use of the P-card, EXCEPT: 

A. Eliminate spending limits on the card
B. Issue AP a departmental card for making vendor payments
C. Have the issuer identify more vendors that accept the card
D. Expand the categories of purchases available for card use



Question # 5

In the U.S., what type of information is HIPAA designed to protect? 

A. Corporate whistleblower identities
B. External auditor findings
C. Private medical records
D. Electronic banking information