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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

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

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

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

3. Each of the following is a goal of a vendor management program, EXCEPT:

A) Compliance with laws and regulations
B) Streamlining sales and use tax process
C) Reducing duplicate payments
D) Collecting spend information for procurement

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

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

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

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

Solutions: