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ABA CTFA Exam
Certified Trust and Financial Advisor (CTFA) (Page 5 )

Updated On: 1-Feb-2026
Page 5 of 91
PDF with 895 Questions

Loan disclosure statement is:

  1. A document which lenders are required to supply borrowers
  2. That states the dollar amount of finance charges
  3. That states APR applicable to a loan
  4. All of these

Answer(s): D



You can use to roughly estimate how many years a given sum of money must earn at a given compound annual interest rate in order to double that initial amount.

  1. Rule 415
  2. the Rule of 72
  3. the Rule of 78
  4. Rule 144

Answer(s): B



You are considering borrowing $10, 000 for 3 years at an annual interest rate of 6%. The loan agreement calls for 3 equal payments, to be paid at the end of each of the next 3 years. (Payments include both principal and interest.) The annual payment that will fully pay off (amortize) the loan is closest to:

  1. $2674
  2. $2890
  3. $3741
  4. $4020

Answer(s): C



Financial intermediaries:

  1. Do not invest in new long-term securities
  2. Include insurance companies and pension funds
  3. Include the national and regional stock exchanges
  4. Are usually underwriting syndicates

Answer(s): B



The market price of K-T-Lew Corporation's common stock is $60 per share, and each share gives its owner one subscription right. Four rights are required to purchase an additional share of common stock at the subscription price of $54 per share. If the common stock is currently selling "rights-on, " the theoretical value of a right is closest to:

  1. $0.96
  2. $1.20
  3. $1.5
  4. $6.0

Answer(s): B



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