Free Accredited Payables Specialist (APS) Certification Exam Practice Questions

A.  

It is made at the same time each week

B.  

It is made to the same organization each time

C.  

It is made for the same amount each time

D.  

It must be made through CHIPS

A.  

Corporate whistleblower identities

B.  

External auditor findings

C.  

Private medical records

D.  

Electronic banking information

A.  

I and II only (Ensure correct and accurate recordkeeping; Provide a reliable approval workflow)

B.  

I only (Ensure correct and accurate recordkeeping)

C.  

I and III only (Ensure correct and accurate recordkeeping; Include report generation with visibility at all required levels)

D.  

II only (Provide a reliable approval workflow)

A.  

I and II only (What data is being accessed; Who is accessing the data)

B.  

I and III only (What data is being accessed; For what purpose the data is being used)

C.  

II and III only (Who is accessing the data; For what purpose the data is being used)

D.  

I, II, and III (What data is being accessed; Who is accessing the data; For what purpose the data is being used)

A.  

Federal Reserve Board

B.  

Department of Treasury

C.  

Department of Commerce

D.  

General Services Administration

A.  

II and III only (Secure record retention; Traveler location tracking)

B.  

III only (Traveler location tracking)

C.  

I and II only (Accurate recordkeeping; Secure record retention)

D.  

I only (Accurate recordkeeping)

A.  

$1,000

B.  

$600

C.  

$0

D.  

$300

A.  

Conduct a thorough audit of vendor names and addresses semiannually and make all changes discovered

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.  

Include in the vendor contract that you must be notified of any personnel changes in writing

A.  

I only (Expense substantiation)

B.  

I, II, and III (Expense substantiation; Business connection requirement; Return of unused cash advances on a timely basis)

C.  

II only (Business connection requirement)

D.  

I and III only (Expense substantiation; Return of unused cash advances on a timely basis)

A.  

To ensure the privacy of individuals or organizations that bank outside of the U.S.

B.  

To make the rules regarding reporting payments made to U.S. persons and non-U.S. persons more consistent

C.  

To make it more difficult for individuals or organizations to avoid paying taxes by banking outside of the U.S.

D.  

To respond to attempts by foreign governments to capture taxes on activities of U.S. persons in their countries