Free IOFM APS Exam Questions

Become IOFM Certified with updated APS exam questions and correct answers

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Total 101 Questions | Updated On: Mar 08, 2026

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Question 1

Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III. States.

A : II and III only

B : III only

C : I and III only

D : I, II, and III

Answer: C

Question 2

What is blockchain?

A : A distributed ledger system

B : A random password generator

C : An internal audit methodology

D : An accounts payable collaborative

Answer: A

Question 3

Which of the following are data security concerns?

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)

Answer: D

Question 4

Assigning a user name and password is one method of:

A : Optical character recognition

B : Robotic process automation

C : Data authentication

D : Security lockdown

Answer: C

Question 5

Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III. States.

A : II and III only

B : III only

C : I and III only

D : I, II, and III

Answer: C

Page: 1 / 21

Total 101 Questions | Updated On: Mar 08, 2026

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