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Very high hit rate

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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. When auditing expense reports, one thing to pay particular attention to is:

A) Airfare expenses in combination with hotel costs
B) Amounts just below the approval threshold
C) Highly itemized receipt details
D) Restaurant receipts that include client names

2. The well-publicized business scandals that occurred in the early 2000s, particularly in the U.S., resulted in legislation that protects which class of employees?

A) Executives
B) Whistleblowers
C) Auditors
D) Hourly employees

3. 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) Monitor vendor quality
D) Control the number of vendor calls

4. To date, the Streamlined Sales Tax Project has accomplished which of the following? I. Resolved the origin vs. destination question; II. Implemented a uniform exemption certificate; III. Created rate and boundary databases.

A) I, II, and III
B) II only
C) II and III only
D) I only

5. Filing for a VAT refund is difficult because: I. Invoices must include the name and address of the company filing for the refund; II. Only authorized agents may apply for the refunds; III. An original invoice must be submitted.

A) II only
B) II and III only
C) I and III only
D) I only

Solutions: