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AFP CTP Exam
Certified Treasury Professional (Page 9 )

Updated On: 19-Jan-2026
Page 9 of 188
PDF with 1076 Questions

A high-yield, non-investment-grade security is commonly referred to as which of the following?

  1. A junk bond
  2. A convertible bond
  3. An industrial revenue bond
  4. An equity warrant

Answer(s): A



Representations and warranties in a loan agreement refer to which of the following?

  1. The financial condition of the borrower during the term of the loan
  2. Violations of loan covenants and material adverse changes
  3. Conditions at the time the agreement is executed
  4. Limitations that restrict the borrower's activities to protect the lender

Answer(s): C



A currency is said to trade at a discount if it is worth:

  1. less than its face value.
  2. less in the forward market than in the spot market.
  3. less in the futures market than in the forward market.
  4. less today than one year hence.

Answer(s): B



Which of the following statements is true about a forward foreign exchange contract?

  1. It is a right to buy or sell foreign currency at a specified price within a fixed time period.
  2. It does not require an underlying commercial transaction because the contract trades on its own.
  3. It specifies delivery of currencies at an exchange rate established today for a currency transaction that settles more than two days in the future.
  4. It is an exchange of currencies at the outset of a transaction at a fixed rate determined by the spot markets.

Answer(s): C



A bank uses all of the following to determine whether a company's balances are sufficient to compensate for services EXCEPT:

  1. collected balances.
  2. ledger balances.
  3. earnings credit rates.
  4. reserve requirement.

Answer(s): B



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