IOFM Accredited Payables Specialist (APS) Certification : APS

  • Exam Code: APS
  • Exam Name: Accredited Payables Specialist (APS) Certification Exam
  • Updated: Jun 16, 2026
  • Q & A: 102 Questions and Answers

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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. Each of the following is one of the most common types of fraudulent expense reimbursement schemes, EXCEPT:

A) Multiple reimbursements for the same expense
B) Lapping schemes for transportation cost
C) Personal expenses reported as business-related
D) Forged or modified travel receipts


2. A copy of front and back of the original check, which is legally the same as the original check, is termed a substitute check or:

A) An image replacement document
B) A surrogate financial instrument
C) A negotiated bank draft
D) An electronic conversion order


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

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


4. Payments to non-resident aliens for services that are performed in the U.S. must be reported on Form 1042-S if the payment amount exceeds:

A) $1,000
B) $300
C) $0
D) $600


5. An organization's mission statement is intended to provide which of the following?

A) Policies and procedures
B) Ethics and compliance standards
C) Methodology and direction
D) Metrics and benchmarking information


Solutions:

Question # 1
Answer: B
Question # 2
Answer: A
Question # 3
Answer: C
Question # 4
Answer: C
Question # 5
Answer: C

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