AFP CTP Practice Exams
Last updated on Oct 21,2026- Exam Code: CTP
- Exam Name: Certified Treasury Professional
- Certification Provider: AFP
- Latest update: Oct 21,2026
The fixed costs to manufacture widgets are estimated to be $54,000. The benefit (sales) of a widget is estimated to be $6.78 per unit, and the variable costs are estimated at $4.48 per unit.
What is the estimated break-even point in units for the manufacture of widgets (rounded to the nearest unit)?
- A . 4,796
- B . 7,965
- C . 12,054
- D . 23,478
Financing decisions in a budget are used to construct all of the following pro forma financial statement components EXCEPT:
- A . debt.
- B . interest expense.
- C . shareholder’s equity.
- D . inventory.
Treasury uses which of the following internal sources of information in its daily operations?
- A . Product development plans
- B . Information technology budgets
- C . Marketing reports
- D . Sales and purchasing summaries
Which scenario provides the BEST example of an agency problem?
- A . A CFO hires an independent auditor to review the company’s balance sheet.
- B . A Treasurer accepts a free round of golf from a banker.
- C . An account manager approves a risky loan in order to meet a salary incentive.
- D . A CEO is close friends with a competitor’s CEO.
Which of the following trade payment methods virtually eliminates the seller’s credit risk?
- A . Bankers’ acceptance
- B . Cash before delivery
- C . Countertrade
- D . Consignment
A small group of investors is purchasing a company using a large amount of debt. This group is intending to sell off pieces of the acquired company to other firms that it believes can take advantage of potential synergies.
What is this type of a transaction more specifically known as?
- A . A merger
- B . An acquisition
- C . A leveraged buyout
- D . An asset purchase
A disclaimer opinion is required on a set of financial statements when:
- A . material deviations from GAAP occur.
- B . the auditor is not independent.
- C . the financial statements may be misleading.
- D . the financial statements are fairly stated.
Which two of the following are optimal uses for short-term excess cash?
I. Pay down credit lines.
II. Make overnight investments.
III. Repurchase stock.
IV. Make capital expenditures.
- A . I and II
- B . I and III
- C . II and III
- D . II and IV
ABC Corporation receives images of paid check exception items from its bank and reviews them daily.
What action should be taken on an item where the payee on the image does NOT match the data from ABC Corporation’s accounts payable?
- A . Bank alerts payee that check is unmatched.
- B . ABC Company utilizes the holder in due course defense.
- C . Image remains stored on ABC Corporation’s network for future customer inquiries.
- D . No-pay decision is communicated to the bank.
The term "collection float" is defined as the delay between the time the payor:
- A . prepares the check and the payee deposits the check.
- B . mails the check and the payee deposits the check.
- C . mails the check and the check is charged to the payor’s account.
- D . mails the check and the payee receives the available funds.