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AFP CTP Exam
Certified Treasury Professional (Page 24 )

Updated On: 19-Jan-2026
Page 24 of 188
PDF with 1076 Questions

A company offers credit terms of net 40, with an opportunity cost of 12% to a customer. What discount would have to be offered for the customer to be indifferent between paying on Day 40 and paying with the discount on Day 10?

  1. 1.0%
  2. 1.3%
  3. 1.6%
  4. 2.0%

Answer(s): A



A company has average monthly sales of $2,700, of which 5 percent is on a cash basis, with the remaining sold on open account. The company's accounts receivable aging schedule at the end of March is as follows:

What is the company's DSO?

  1. 38.06
  2. 39.32
  3. 40.06
  4. 41.39

Answer(s): D



MICR encoding errors may be detected by all of the following TMS modules EXCEPT:

  1. positive pay module.
  2. current day reporting.
  3. reverse positive pay module.
  4. prior day reporting.

Answer(s): B



From a consumer's perspective, all of the following are true of both debit cards and credit cards EXCEPT:

  1. transactions are posted to bank accounts as withdrawals.
  2. transactions may require authorization from the card issuer.
  3. transactions can be conducted at automated teller machines.
  4. merchants receive availability within three business days.

Answer(s): A



Which of the following are interest-bearing instruments?

I). Certificates of deposit
II). Treasury bills
III). Treasury notes
IV). Banker's acceptances

  1. I and III only
  2. I and IV only
  3. I, III, and IV only
  4. II, III, and IV only

Answer(s): A



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