IOFM APS - Accredited Payables Specialist (APS) Certification Exam
- Exam Code: APS
- Exam Name: Accredited Payables Specialist (APS) Certification Exam
- Updated: Jun 02, 2026
- Q & A: 102 Questions and Answers
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1. Evaluated Receipt Settlement (ERS) payments are made based on the quantity reflected on which of the following?
A) Advanced Shipping Notice
B) Supplier Invoice
C) Purchase Order
D) Receiving Documents
2. What is an efficient way to handle vendor contact information in the VMF that is likely to change frequently?
A) Include in the vendor contract that you must be notified of any personnel changes in writing
B) Include only the vendor web address in the VMF and check online to find the right contact as needed
C) Assign an individual to review the contact information for these vendors on a weekly basis
D) Conduct a thorough audit of vendor names and addresses semiannually and make all changes discovered
3. In the U.S., what type of information is HIPAA designed to protect?
A) External auditor findings
B) Electronic banking information
C) Corporate whistleblower identities
D) Private medical records
4. Benefits of ACH include each of the following, EXCEPT:
A) ACH speeds up payment processing time
B) ACH reduces the cost of invoice processing
C) ACH replaces having to issue paper checks
D) ACH eliminates the need for vendor verification
5. Good vendor master file practices include each of the following, EXCEPT:
A) Having a vendor verification program
B) Deleting and re-entering vendors that move
C) Finding and consolidating duplicate vendors
D) Blocking inactive vendors after a certain period
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |
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