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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

Question 1

The acronym "VAT" stands for:

A. Value added tax
B. Variable added tax
C. Value assessed tax
D. Variable assessed tax

Question 2

Which of the following is true about a recurring wire transfer?

A. It must be made through CHIPS
B. It is made at the same time each week
C. It is made for the same amount each time
D. It is made to the same organization each time

Question 3

Cash management refers to an organization's management of which of the following?

A. Enterprise resource planning systems
B. Payment terms
C. Inflow and outflow of funds
D. Payroll disbursements

Question 4

Assigning a user name and password is one method of:

A. Security lockdown
B. Robotic process automation
C. Data authentication
D. Optical character recognition

Question 5

According to the IRS definition of an accountable plan, how much time is given an employee to adequately account for business expenses after they are incurred?

A. 120 days
B. 30 days
C. 90 days
D. 60 days

Solutions: