AFP CTP Actual Questions

Certified Treasury Professional Questions and Answers

Question 109

Which of the following business practices does NOT comply with the Uniform Commercial Code?

Options:

A company reconciles its bank statements within 30 days of receipt.

A company receives a check marked "paid in full" and disputes it 120 days later.

A bank exercises ordinary care when it examines signatures on checks received.

A bank elects to return stale-dated items.

Question 110

A pizza restaurant chain maintains separate accounts at bank branches near each of their 1,067 restaurants to handle the deposit of cash received. Early each morning, the company’s point-of-sale system electronically transmits collection totals from the previous day to its main computer. ACH debits are then initiated to concentrate the funds from the local accounts to the concentration account the following day. Recently, several of the ACH debits have been returned for insufficient funds because deposits weren’t being taken to the bank on a timely basis by the local employees. Without increasing staff at the restaurants, what could Treasury do to prevent this from happening and avoid overdrafts at the local banks?

Options:

Negotiate better float schedules at its local banks.

Install smart safes at each restaurant location.

Use a courier to deposit to each bank 3 times per week.

Use wire transfers to concentrate the cash instead of ACH.

Question 111

Which two of the following are necessary to calculate average collected balances?

I. Deposit float

II. Reserve requirements

III. Ledger balance

IV. Earnings credit rate

Options:

I and II

I and III

II and IV

III and IV

Question 112

The PRIMARY objective of a corporation is to:

Options:

maximize value to shareholders.

maximize cash inflows.

minimize the cost of capital.

maintain adequate liquidity.

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Certified Treasury Professional Questions and Answers

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