IOFM : APS Questions & Answers
Updated: Jun 07, 2026
No. of Questions: 102 Questions & Answers with Testing Engine
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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. Benefits of ACH include each of the following, EXCEPT:
A) ACH eliminates the need for vendor verification
B) ACH speeds up payment processing time
C) ACH replaces having to issue paper checks
D) ACH reduces the cost of invoice processing
2. 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
3. To establish a successful shared services center, each of the following is required EXCEPT:
A) A change in mindset
B) Performance metrics
C) A customer service orientation
D) A greenfield site
4. What is a limitation typically associated with a blanket purchase order?
A) It should not extend past a specified timeframe
B) It must be settled with a same-day wire transfer
C) It should only be created for a specific delivery date
D) It is only issued for purchasing services, not for goods
5. Ways in which an organization could suffer from check fraud include which of the following: I. Check alteration; II. Invalid payments; III. Stolen issued checks.
A) I and II only
B) I, II, and III
C) II and III only
D) I and III only
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: B |
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