Expert Answers to IOFM Exam APS Questions

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Accounts Payable Certification Accredited Payables Specialist (APS) Certification Exam

Accredited Payables Specialist (APS) Certification Exam

Last Update May 24, 2026
Total Questions : 100

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Questions 2

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.

Options:

I, II, and III

II and III only

I and III only

I and II only

Discussion 0

Questions 3

All of the following items are typically addressed in an organization’s vendor setup guidelines except:

Options:

Validating that the person who requested the new vendor is authorized to do so

Whether or not the vendor outsources its order fulfillment process

The conventions for the way letters and abbreviations must be entered

Verification that the vendor is not already in the system

Discussion 0

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Questions 4

According to the ACFE, which of the following is the most common type of fraud scheme?

Options:

Asset misappropriation

Intellectual property fraud

Corruption (bribery)

Financial misstatement

Discussion 0