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Updated: Aug 18, 2026
No. of Questions: 102 Questions & Answers with Testing Engine
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IOFM APS Exam Overview:
| Certification Vendor: | IOFM (Institute of Finance & Management) |
| Exam Name: | IOFM Accredited Payables Specialist (APS) Certification Exam |
| Exam Number: | APS |
| Available Languages: | English |
| Exam Format: | Multiple-choice, Online proctored exam |
| Related Certifications: | Accredited Payables Manager (APM) |
| Recommended Training: | IOFM Accounts Payable Training |
| Exam Registration: | IOFM Certification Overview IOFM Training and Certification Programs |
| Sample Questions: | IOFM APS Sample Questions |
| Exam Way: | Online proctored, self-paced certification exam via IOFM platform |
| Pre Condition: | Recommended practical experience in accounts payable or finance operations; IOFM training is typically suggested but not strictly required. |
| Official Syllabus URL: | https://www.iofm.com/ |
IOFM APS Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Payments Management | - Payment scheduling and optimization - Payment methods and execution |
| Topic 2: Accounts Payable Fundamentals | - AP processes and lifecycle - Roles and responsibilities in AP departments |
| Topic 3: AP Automation and Technology | - Electronic invoicing and automation tools - ERP and AP system usage |
| Topic 4: Internal Controls and Compliance | - Regulatory compliance in payables - Audit controls and documentation |
| Topic 5: Vendor Management | - Vendor onboarding and maintenance - Vendor compliance and performance |
| Topic 6: Invoice Processing and Workflow | - Approval workflows and exceptions handling - Invoice receipt, validation, and matching |
| Topic 7: Fraud Prevention and Risk Management | - Fraud detection in accounts payable - Risk mitigation controls |
| Topic 8: Reporting and Analytics | - AP reporting and KPI tracking - Data analysis for payables optimization |
IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III.
States.
A) II and III only
B) I and III only
C) III only
D) I, II, and III
2. In order to get a sales tax exemption on goods purchased for resale, what must the buyer do?
A) Provide an exemption certificate to the seller
B) Supply a copy of a sales tax license to the seller
C) Inform the state in writing that the tax will be paid by the buyer
D) File a letter of intent with the local taxing jurisdiction
3. Payment of invoices when it is assumed that the goods have been received is referred to as which of the following?
A) I, II, and III (Positive Payment, Negative Assurance, Assumed Receipt)
B) III only (Assumed Receipt)
C) II and III only (Negative Assurance, Assumed Receipt)
D) I only (Positive Payment)
4. Which of the following is a key reason for careful management of your vendor master file?
A) Gain visibility into payment status
B) Reduce the potential for fraud
C) Control the number of vendor calls
D) Monitor vendor quality
5. Where circumstances do not permit implementing ideal controls, an organization should put in place the next- best alternative, commonly referred to as:
A) Interim controls
B) Secondary controls
C) Stop-gap controls
D) Compensating controls
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: D |
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By Marjorie
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By Pag
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By Sibyl
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By Xenia
I think 80% of the questions here are in the real test, the rest you can just work out yourself. This IOFM APS dump is good. i passed today with 87%.
By Arno
today passed exam. this dump is valid, only 5 questions new. But you also need to study the knowledge in order to pass
By Boris
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