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  • Total Questions: 102
  • Updated on: Jul 18, 2026
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  • Total Questions: 102
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  • Total Questions: 102
  • Updated on: Jul 18, 2026
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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. 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) Auditors
B) Executives
C) Whistleblowers
D) Hourly employees


2. The COSO framework's categories of internal controls include each of the following EXCEPT:

A) Accounting principles
B) Risk assessment
C) Control environment
D) Information and communication


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

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


4. Each of the following is a goal of a vendor management program, EXCEPT:

A) Compliance with laws and regulations
B) Reducing duplicate payments
C) Streamlining sales and use tax process
D) Collecting spend information for procurement


5. According to the IRS definition of an accountable plan, how much time is given an employee to adequately account for business expenses after they are incurred?

A) 30 days
B) 90 days
C) 60 days
D) 120 days


Solutions:

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

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